Next week: Bath & Body Works, consumer confidence, Fed meeting minutes
A look at some of the key business events and economic indicators upcoming next week.
Retailer Bath & Body Works offers up its latest financial results on Monday before markets open.
The retailer is forecast by analysts to post third-quarter earnings per share of 47 cents on $1.58 billion in revenue, close to the 48 cents-per-share profit and $1.56 billion in sales in the same period a year ago. Bath & Body Works shares are down about 30% since the beginning of the year.
On Tuesday, the Conference Board issues its consumer confidence report for November.
Analysts expect consumer confidence rose for the second straight month. October’s reading came in much higher than expected at 108.7, the biggest monthly jump since March of 2021. The consumer confidence index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.
Consumer confidence, by month:
June: 97.8
July: 101.9
Aug.: 105.6
Sept.: 99.2
Oct.: 108.7
Nov. (est.): 112.9
Source: FactSet.
The Federal Reserve on Wednesday releases the minutes from its most recent policy meeting.
Just two weeks ago, the Fed cut its key interest rate by a quarter-point in response to the steady decline in inflation that took hold during the post-pandemic boom. The rate cut followed a larger half-point reduction in September, and reflects the Fed’s renewed focus on supporting the job market as well as fighting inflation, which now barely exceeds the central bank’s 2% target.
