A look at some of the key business events and economic indicators upcoming this week:
SPOTLIGHT ON PEPSI
Wall Street expects another solid quarterly snapshot from PepsiCo.
Analysts predict the food and beverage company will report Tuesday that its third-quarter earnings and revenue increased from a year earlier. That would echo the company’s results in the first half of this year. PepsiCo has been expanding its offerings, focusing more on healthier snacks and beverages. In August, the company agreed to sell a controlling stake in Tropicana and other juices to a private equity firm.
JUST CHARGE IT
The Federal Reserve issues its latest monthly tally of U.S. consumer borrowing Thursday.
Americans, bolstered by a reopening economy and rising job levels, ramped up their use of credit this spring. Consumer borrowing, excluding mortgages and other loans secured by real estate, surged by almost $38 billion in June, but cooled to $17 billion in July. Economists project consumer borrowing increased by the same amount in August.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
March 19.3
April 18.3
May 35.0
June 37.9
July 17.0
Aug. (est.) 17.0
Source: FactSet
HIRING REBOUND?
Economists predict hiring in the U.S. accelerated last month after slowing in August.
The Labor Department is expected to report Friday that nonfarm employers added 525,500 jobs in September. That would be up from August, when America’s employers added just 235,000 jobs, a surprisingly weak gain after two months of robust hiring. The sharp pullback in hiring in August came as the coronavirus’ delta variant spread, discouraging some people from flying, shopping and dining out.
Nonfarm payrolls, monthly change, seasonally adjusted:
April 269,000
May 614,000
June 962,000
July 1,053,000
Aug. 235,000
Sept. (est.) 525,000
Source: FactSet
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