Jobs, Inflation Reports and Micron Results Set Up Busy Week

A busy week of U.S. jobs and inflation reports begins Tuesday, with Micron set to report fiscal fourth-quarter results after Wednesday’s close. The calendar follows an up week for major indexes, though futures were lower Monday morning.

Tuesday brings August job openings data, with expectations for 7.2 million openings, down from 7.27 million the previous month. September labor updates include ADP’s private-sector payroll report Wednesday, weekly jobless claims Thursday and the government’s employment report and unemployment rate Friday.

August Personal Consumption Expenditures inflation figures are also due this week. Forecasts call for year-over-year headline inflation to ease to 3.6% and core inflation, excluding food and energy, to 3.2%. Both would be 10 basis points lower than the previous readings, according to the article.

Micron’s results will test high expectations. Forecasts cited in the article call for fiscal fourth-quarter earnings growth of 937.95% and revenue growth of 349.48% from a year earlier. The company has not missed earnings expectations since fiscal second quarter 2023, the article said.

Other market indicators were also in focus Monday. Oil was up more than 2.5%, with WTI at $94 a barrel and Brent at $106. The 10-year Treasury yield stood at 5.21%, its highest level since 2007, according to the article.