What to Expect in Markets This Week: Jobs Report, Inflation Data, Earnings From Micron, Nike and FedEx
Daniel Heuer / Bloomberg via Getty Images The Fed tied its interest-rate cut last week to worries over growing weakness in the labor market. The data drought of the government shutdown is giving way to a deluge. Several long-awaited economic reports are on the schedule this week. Market watchers will get delayed reports on employment levels, retail sales, and inflation, along with regularly scheduled data on existing-home sales and consumer sentiment. Fed Chair Jerome Powell said central bankers need more data as they evaluate the path of interest rates; Remarks by Fed governors Stephen Miran and Christopher Waller could sway markets as investors await signals on the central bank’s next move on interest rates. Investors will get another look at the artificial intelligence trade this week with the an earnings report due from chipmaker Micron Technology. Reports from Nike, FedEx, CarMax, General Mills and Carnival will offer insight into the U.S. consumer. Read to the bottom for our calendar of key events—and one more thing. Data Highlights Jobs, Inflation, Retail Sales Reports The Fed tied its interest-rate cut last week to worries over growing weakness in the labor market. That picture will become somewhat clearer when the Bureau of Labor Statistics releases November employment data on Tuesday. Also due that day are retail sales data from October and business inventories levels from September, which can provide a closer look at consumer demand. On Thursday, the release of the November Consumer Price Index (CPI) will provide insight into tariffs’ impact on inflation as the Fed watches price pressures closely going into 2026. Meanwhile, two Federal Reserve officials tied to President Donald Trump will speak this week: Fed Governor Stephen Miran, who speaks as markets open on Monday, has served as an economic adviser to Trump and voted for a larger interest rate cut at last week’s meeting. Fed Governor Christopher Waller, among the potential candidates to lead the central bank, will deliver remarks to a meeting of CEOs on Wednesday. Earnings Continue, WIth Micron, Nike and FedEx Due While most major tech firms have reported their earnings for the third quarter, investors this week will hear from one of the hottest plays in the artificial intelligence trade. Micron Technology’s report on Wednesday arrives after a year in which the memory chip maker’s stock has surged by more than 200%. Several earnings reports this week will highlight consumer health, including the Thursday report from Dow Jones component Nike, which is seeing success from its turnaround efforts. The sneaker maker warned that tariffs could still impact its bottom line, even as sales showed surprising growth in its most recent quarterly report.