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Biden to join UAW picket line, earnings: What to watch this week

President Joe Biden is traveling to Michigan on Tuesday, September 26th to support the UAW strikes. Former President Donald Trump says he will visit with autoworkers in Detroit on Wednesday instead of attending the second Republican presidential debate.

On the earnings side, Costco (COST) will be reporting its fourth quarter results next week as well as Nike (NKE), which will be reporting its first quarter results on Thursday, September 28th.

On the economic front, the consumer confidence index for September will be released on Tuesday, September 26th. Core PCE inflation data for August will be released on Friday, September 29th. This is one of the key economic data points that the Federal Reserve will be looking at for its next interest rate hike decision.

Yahoo Finance's Josh Lipton takes a look at what to watch this week. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video transcript

JOSH LIPTON: Time now for what to watch next week. President Biden reportedly to travel to Michigan on Tuesday to support UAW strikes. This according to the Washington Post. This is coming after the United Auto Workers Union extended its strike to GM and Stellantis. Former President Trump has already announced a trip to Detroit on Wednesday evening, the same time as a GOP debate.


On the earnings front, Costco reporting its results. The retailer showing relative strength, heading into its earnings report. Investors can also look forward to quarterly results from Nike, with shifts in the retail industry. China recovery uncertainty will be one of the focal points when the company reports on Thursday, September 28.

And turning to the economic landscape, consumer confidence for the month of September is out on Tuesday. This coming after the index saw a pullback in confidence, reversing that sharp uptick in July. And then later in the week, new data for the Fed's preferred inflation gauge core PCE for the month of August expected to edge up 0.2%, and rise 3.9% year over year. That will be one of the key economic data points the Fed will keep an eye on, when making their next policy decision.