Macro outlook for next week: Non-farm payrolls and PCE will test the Fed’s interest rate path, Micron’s financial report will test the quality of demand

PANews reported on September 27 that according to Jinshi, the dominant variables in the market this week are investors’ repricing of further interest rate hikes by the Federal Reserve and the progress of negotiations between the United States and Iran around the Strait of Hormuz. U.S. stocks recorded their first rising week in three weeks this week, and artificial intelligence-related transactions have returned to the main line. The following are the key points that the market will focus on in the new week (all Beijing time):

At 03:25 on Thursday, Federal Reserve Governor Lisa Cook spoke;

Tuesday 22:00, US JOLTs job vacancies in August, US Conference Board consumer confidence index in September;

At 20:15 on Wednesday, the US ADP employment number in September;

At 20:30 on Wednesday, the annual rate of the US core PCE price index in August, the monthly rate of personal expenditures in August, the final value of the annualized quarterly rate of real GDP in the second quarter, the final quarterly rate of real personal consumption expenditures, and the final annualized quarterly rate of the US core PCE price index in the second quarter.

Wednesday 21:45, Chicago PMI for September in the United States;

At 20:30 on Thursday, the number of initial jobless claims in the United States for the week to September 26;

Thursday 21:45, US September S&P global manufacturing PMI final value;

At 22:00 on Thursday, the U.S. ISM manufacturing PMI in September and the U.S. construction spending monthly rate in August;

Friday 20:30, U.S. non-farm payrolls, unemployment rate, and average hourly wage after seasonally adjustment in September;

At 22:00 on Friday, the monthly rate of U.S. factory orders in August; 2026 FOMC voting committee member and Dallas Fed Chairman Logan gave a welcome speech at the fifth seminar on the macroeconomic impact of immigration.

The highlight of next week's data front will be Friday's U.S. non-farm payrolls report. In terms of U.S. stocks, Nike (NKE.N) will announce its latest quarterly financial report on Thursday; Micron (MU.O) will also release the list next week. The two companies respectively correspond to the two main lines of consumer demand and memory chips.