TLDR
- The August Personal Consumption Expenditures inflation report arrives Wednesday, the first inflation reading since the Federal Reserve’s September rate hike.
- The September jobs report is due Friday, with economists expecting 100,000 new jobs and unemployment holding at 4.2%.
- Micron Technology reports fiscal fourth-quarter earnings Wednesday, with analysts forecasting $31.52 per share on revenue near $51.07 billion.
- CarMax, Carnival, Nike, and Accenture also report earnings this week, offering a look at consumer and business spending.
- The 10-year Treasury yield closed last week at 5.17%, and mortgage rates hit their highest level since January 2025.
Wall Street enters the week focused on inflation, jobs, and a batch of corporate earnings. All three major indexes gained last week. The Nasdaq closed near a record high, and the Dow snapped a three week losing streak.
The Bureau of Economic Analysis releases the August Personal Consumption Expenditures price index on Wednesday. This is the Fed’s preferred inflation gauge. It is also the first inflation reading since the central bank raised interest rates on September 16.
Core PCE rose 3.3% year over year in the last report. That is still well above the Fed’s 2% target. A hotter than expected reading could raise the odds of another rate increase in October.
Jobs Data and Consumer Confidence in Focus
The Conference Board updates its Consumer Confidence Index on Tuesday. The index slipped in August, even though Americans felt slightly better about the job market.
The September jobs report follows on Friday. Economists surveyed by Reuters expect the economy added 100,000 jobs. The unemployment rate is expected to stay at 4.2%.
August hiring beat forecasts, though not by enough to change the low hiring, low firing pattern seen this year. A stronger than expected report could support the case for another Fed rate hike.
Consumer sentiment has been under pressure. The University of Michigan survey showed sentiment at its second lowest level in the survey’s 74 year history. Mortgage rates add to that strain, with the 30 year fixed rate climbing to 7.45%, the highest since January 2025.
Earnings From Micron, CarMax, and Nike
Micron Technology reports fiscal fourth-quarter results Wednesday. Analysts expect $31.52 per share on revenue of about $51.07 billion. Micron makes memory chips and is watched closely as a signal of demand tied to AI data centers.
#earnings for the week of September 28, 2026https://t.co/hLn2sKQhEY$MU $NKE $CCL $ACN $CAG $JBL $KMX $AYI $MTN $UEC $IVA $MKC $JEF $CNXC $FDS $PRGS $AIR $SANG $GNS $BSET $ATCH pic.twitter.com/qDjcnxmtyc
— Earnings Whispers (@eWhispers) September 25, 2026
CarMax reports fiscal second-quarter results Tuesday. An activist investor pushed the company earlier this year to consider price cuts on used vehicles. The report may show whether pricing pressure has eased.
Carnival Corporation kicks off the week’s earnings Monday. Analysts expect $1.35 per share on revenue of $8.39 billion. Cruise spending held up this summer even as some consumers cut other travel costs.
Nike reports fiscal first-quarter results Wednesday after the close. Analysts expect $0.44 per share on revenue of $11.33 billion. Nike’s last report showed a 12% drop in China sales.
Accenture reports Thursday, with analysts expecting $3.18 per share on revenue of $18.03 billion. The consulting firm recently signed a five year AI safety partnership with Anthropic.
McCormick and Company also reports Wednesday, expecting $0.76 per share on revenue near $1.98 billion. The spice maker plans to merge with Unilever.
Bond Yields and Broader Market Conditions
The 10-year Treasury yield ended last week at 5.17%. The 30-year yield reached its highest level in more than 20 years. Higher yields make future company earnings less valuable in today’s dollars.
U.S. 30-Year Treasury Yield closes at 5.49%, the highest level in more than 22 years 🚨 🚨 pic.twitter.com/MyAfEkUceX
— Barchart (@Barchart) September 25, 2026
Eight of the S&P 500’s 11 sectors were negative for September. An equal weighted version of the index was down about 4% for the month, showing the market’s gains have relied heavily on a small group of large technology stocks.
Gold closed near $4,322.40, oil traded near $92.79, and Bitcoin ended close to $83,809. The VIX, a measure of expected market volatility, fell to 14.87.
Several companies trade ex-dividend this week, including Cisco Systems, Deere, and Bristol-Myers Squibb. Investors will weigh this week’s jobs and inflation data against elevated bond yields to gauge the market’s next direction.
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