As the final quarter of 2024 begins, investors are keeping a close eye on various economic factors that could shape the coming months. Here’s a rundown of key events and issues on the horizon:
Rising Interest Rates: The possibility of rising interest rates is a concern for investors, as it could have implications for the economy and financial markets. JPMorgan’s Jamie Dimon has suggested that interest rates “could rise more,” highlighting the need for a careful approach to monetary policy.
UAW Strike: The United Auto Workers (UAW) strike against Detroit’s Big Three automakers continues to impact the economy. As the strike enters its third week, there will be new estimates on its cost to the economy. This ongoing labor dispute has implications for the automotive industry and beyond.
Tesla’s Q3 Delivery Numbers: Tesla, the electric vehicle giant led by Elon Musk, is expected to release its third-quarter delivery numbers. In the previous quarter, Tesla produced a substantial number of vehicles and achieved impressive delivery figures, contributing to its strong performance in the stock market.
Economic Data: The week will also bring economic data on vehicle sales, construction spending, and manufacturing Purchasing Managers’ Index (PMI). These indicators will provide insights into the health of various sectors within the economy.
Sam Bankman-Fried Trial: The trial of crypto investor Sam Bankman-Fried is set to begin in New York. This legal proceeding is of interest to those following developments in the cryptocurrency space.
Kaiser Permanente Strike: More than 75,000 union healthcare workers at Kaiser Permanente may go on strike if a new contract is not reached. This potential strike is significant, potentially becoming the largest healthcare worker strike in U.S. history and affecting multiple states.
National Emergency Alert: A national emergency alert is scheduled to be broadcast on cell phones, televisions, and radios. FEMA and the Federal Communications Commission will conduct this test to ensure the effectiveness of emergency warning systems.
Jobs Report: The monthly jobs report will be a critical economic indicator to watch. It will reveal the number of jobs created and the unemployment rate for September. Analysts will be closely monitoring these figures to assess the state of the labor market.
As we move into the final quarter of the year, these economic events and developments will play a crucial role in shaping the economic landscape and influencing investment decisions. Investors and economists will be closely analyzing these factors to gauge the direction of the economy in the coming months.
