Weekly Macro Outlook: Nonfarm Payrolls and PCE Data to Take Center Stage, Micron to Release Earnings After Wednesday's Close

BlockBeats news, September 28 — The highlight of this week's macroeconomic data calendar is Friday's U.S. nonfarm payrolls report. This report contains three core readings — nonfarm payrolls, the unemployment rate, and average hourly earnings — and is directly tied to the Federal Reserve's rate path, making it a particularly weighty piece of employment data ahead of the October FOMC meeting. Here are the key points the market will focus on in the coming week (all times Beijing time):

Wednesday 20:15, U.S. September ADP employment change;

Wednesday 20:30, U.S. August core PCE price index year-over-year;

Thursday 16:00, Bank of England Governor Bailey speaks;

Thursday 20:30, U.S. initial jobless claims for the week ending September 26;

Thursday 21:30, European Central Bank President Lagarde speaks;

Friday 20:30, U.S. September seasonally adjusted nonfarm payrolls and unemployment rate;

Starting early Wednesday, Federal Reserve officials' public engagements will ramp up. 2027 FOMC voter and Chicago Fed President Goolsbee and 2028 FOMC voter and St. Louis Fed President Musalem will speak in succession, while permanent FOMC voter and New York Fed President Williams will deliver a keynote address at the University at Buffalo. On Thursday, Fed Governor Cook, Minneapolis Fed President Kashkari, and Richmond Fed President Barkin will speak in succession; on Friday, Williams and Dallas Fed President Logan will still have public engagements.

On the U.S. equities front: Micron (MU.O) will report earnings after the bell on Wednesday; on Thursday, Nike (NKE.N) will release its latest quarterly earnings, with the two companies corresponding to the two main themes of memory chips and consumer demand, respectively.