The Week Ahead
Tuesday, Sept. 29 -- The Federal Reserve's Federal Open Market Committee will meet to set monetary policy for the next seven weeks. According to the median forecast of economists surveyed by Standard & Poor's MMS, a unit of The McGraw-Hill Companies, no change is expected in interest rates. However, policymakers are likely to shift their policy bias from a neutral stance to one slanted toward easing.
Tuesday, Sept. 29, 10 a.m.EDT -- The Conference Board's consumer confidence index probably fell to 130 in September, from 133.1 in August.
NEW HOME SALES
Wednesday, Sept. 30, 10 a.m.EDT -- New single-family homes probably sold at an annual rate of 880,000 in August, says the S&P MMS forecast. That would be down from the 886,000 sold in July.
Wednesday, Sept. 30, 10 a.m.EDT -- The Conference Board's composite index of leading indicators was likely unchanged in August, after jumping 0.4% in July.
Thursday, Oct. 1, 10 a.m.EDT -- The National Association of Purchasing Management's business index likely fell to 49% in September, from 49.4% in August. A reading below 50% indicates that the factory sector is contracting.
Thursday, Oct. 1, 10 a.m.EDT -- Construction spending probably rose 0.3% in August, on top of a 0.4% increase in July.
Friday, Oct. 2, 8:30 a.m.EDT -- The S&P MMS survey expects that nonfarm payrolls increased a healthy 200,000 in September. Jobs grew by 365,000 slots in August, but much of those were workers returning after the General Motors Corp. strike. The jobless rate likely remained at 4.5%.