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Fed decision, FedEx, Nike, Costco earnings and Biden at UN General Assembly top week ahead
Some inflation causes will dissipate but underlying reasons will remain: Bob Doll
Crossmark Global Investments chief investment officer Bob Doll discusses inflation, the Federal Reserve, the markets and China’s impact on the global economy.
Investors will be watching the Federal Reserve closely this week as the agency offers new insight on inflation and its impact on the U.S. economic outlook and monetary policy moving forward.
The market will also take in key housing data and a slew of earnings from big names including FedEx, Nike and Costco.
President Biden is also set to deliver in-person remarks to the 76th session of the United Nations General Assembly for the first time since taking office.
DOW JONES AVERAGES
NASDAQ COMPOSITE INDEX
This as the market looks to bounce back after a losing week and an ongoing rocky September.
FOX Business takes a look at the news likely to move financial markets in the coming days.
Kicking off the week will be earnings from homebuilder Lennar and the National Association of Homebuilders' housing market index.
MATCH GROUP, INC.
PERRIGO CO. PLC
It will also be a big day for Match Group, which will replace Perrigo Company in the S&P 500.
Earnings will ramp up on Tuesday with Adobe, AutoZone and Cracker Barrel before the market open and FedEx and Stitch Fix after the bell.
CRACKER BARREL OLD COUNTRY STORE, INC.
As for economic data, investors will be watching for building permits, housing starts, and the U.S. current account for the second quarter.
This as the Organisation for Economic Co-operation and Development (OECD) will update its forecasts for major economies in its interim outlook.
RAYMOND JAMES FINANCIAL, INC.
Other market-related events to watch include Raymond James 3-for-2 stock split, which will take effect in the form of a 50% stock dividend payable to shareholders of record as of Sept. 9. Shareholders will receive one additional share of Raymond James Financial common stock for every two shares owned, which will be distributed on Tuesday. Cash will be distributed in lieu of fractional shares based on the stock's closing price on Monday.
XEROX HOLDINGS CORP.
INTERCONTINENTAL EXCHANGE, INC.
Xerox will also transfer its common stock listing from the New York Stock Exchange to the Nasdaq on Tuesday. The company will keep its current ticker symbol XRX.
Also on Tuesday, Universal Music Group is expected to begin trading on Euronext Amsterdam, according to its IPO prospectus. The label behind Taylor Swift and the Rolling Stones is aiming for an estimated equity value of €33 billion, or $39 billion. Approximately 60% of shares in Universal will be distributed to French media group Vivendi, including its controlling billionaire Vincent Bolloré. Last month, Bill Ackman's Pershing Holdings purchased a 10% stake in the company, based on a valuation of €35 billion. Tencent Holdings also bought a total stake of 20% last year.
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