Week InAdvance: August 29, 2022
Mon Aug 29 US Open tennis tournament starts in NYC. | Tue Aug 30 Markets are closed in London due to the UK's summer bank holiday. | Wed Aug 31 Three-day Nord Stream pipeline shutdown. | Fri Sep 2 US employment report for August. UK leadership ballot closes.
After a blowout US jobs report for July, investors will get a fresh look at the nation's labor market on Friday. Continuing strength may temper recession worries and allow the Federal Reserve to press on with steep interest-rate hikes. The monthly payrolls report is expected to show a gain of 300,000 jobs for August, while the unemployment rate is seen holding at 3.5%, matching a five-decade low.
On Wednesday, the euro zone reports inflation data for August. Consumer prices jumped 8.9% from a year earlier in July, overshooting expectations and climbing to another all-time high.
Several big Chinese banks report earnings in the coming week, and all eyes will be on any impact from the country's property crisis and mortgage-payment boycott. The results come as some lenders employ practices to inflate loan volumes as they struggle to meet government demands to pump more credit into the system.
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