Consumer confidence, Campbell Soup earns, jobs report
Aug 28, 2022, 9:10 PM | Updated: 9:20 pm
A look at some of the key business events and economic indicators upcoming this week:
EYE ON CONSUMERS
The Conference Board delivers its latest index of U.S. consumer confidence Tuesday.
Economists expect the reading edged up in August to 96.9. A reading of 90 or better reflects a healthy economy. The index measures consumers’ assessment of current conditions and their outlook for the future, and has mostly fallen this year as consumers grapple with the highest inflation in decades and rising interest rates.
Consumer confidence, by month:
March 107.6
April 108.6
May 103.2
June 98.4
July 95.7
Aug. (est.) 96.9
Source: FactSet
SOUP’S ON
Wall Street expects an improved showing from Campbell Soup’s latest quarterly report card.
Analysts predict Camden, New Jersey’s Campbell will report higher earnings and revenue for the May-July quarter than a year ago. That would echo its results in the previous quarter. The maker of canned soup, Pepperidge Farm cookies and V8 juice raised its revenue forecast for the year in June, citing strong demand and improving profit margins thanks to higher prices. Campbell Soup serves up its fiscal fourth-quarter results Thursday.
ALL ABOUT JOBS
The Labor Department releases its monthly snapshot of hiring by nonfarm employers Friday.
Economists predict employers added 290,000 jobs in August — the smallest gain since April 2021. In July, employers added a robust 528,000 jobs, which helped lower the national unemployment rate to 3.5%, matching a more than 50-year low.
Nonfarm payrolls, monthly change, seasonally adjusted:
March 398,000
April 368,000
May 386,000
June 398,000
July 528,000
Aug. (est.) 290,000
Source: FactSet
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