Business week ahead, Sept. 16-20
"Quadruple witching," a stock market event worth watching, takes place this week. Credit: AP/Richard Drew
KEY EVENT: A news-packed week features an update on Long Island job creation, a Federal Reserve meeting and a quarterly stocks event that could add more volatility to an already volatile market.
MONDAY: The Federal Reserve Bank of New York releases the September Empire State manufacturing report.
TUESDAY: The September homebuilders’ optimism survey from the National Association of Home Builders. The report is often a bellwether on how the economy will be performing a few months from now. Earnings: Photoshop maker Adobe, FedEx.
WEDNESDAY: The Federal Reserve ends a two-day meeting with a statement on the economy and a decision on interest rates. Many economists expect the Fed to cut rates. After the meeting, Fed chairman Jerome Powell holds a news conference. Earnings: General Mills.
THURSDAY: The state Labor Department releases jobs created on Long Island in August. Also, August existing-home sales from the National Association of Realtors and jobless benefits claims for the week ended Sept. 14 from the Labor Department. Earnings: Olive Garden owner Darden Restaurants.
FRIDAY: “Quadruple witching,” the quarterly stock market event when stock futures, stock options, index futures and index options expire at the same time. The event sometimes causes wild swings in stock prices.
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