This Week: Treasury budget, consumer prices, Walmart earns
A look at some of the key business events and economic indicators upcoming this week:
FEDERAL BUDGET WATCH
The Treasury Department issues a report Tuesday on how much money Uncle Sam took in and paid out last month.
The September report showed that the federal government’s receipts and outlays translated into a surplus of $119.1 billion for the month. Economists project that October ended with a shortfall of $107 billion. In October last year, the government ended the month with a shortfall of $63.2 billion.
Treasury budget, billions of dollars, not seasonally adjusted:
Oct. (est.) -107.0
PRICES EDGING HIGHER?
Inflation has been mostly creeping higher this year, cutting into Americans’ spending power.
Yet core inflation, which excludes volatile energy and food costs, remains close to the Federal Reserve’s target of 2 percent. Prices at the consumer level rose 2.3 percent in September from a year earlier, with higher housing and gasoline costs driving most of the increase. The Labor Department issues its October snapshot of consumer prices Wednesday.
Consumer price index, annual percent change, not seasonally adjusted:
Oct. (est.) 2.5
BULKING UP ONLINE
Walmart has been buying up companies such as Bonobos and ModCloth in a bid to drive more online business.
The retailer’s $16 billion buyout of Indian online retailer Flipkart prompted Walmart to trim its profit outlook for the year. It also forecast slower U.S. online sales growth. Investors will be listening for a strategy update Thursday, when Walmart delivers its latest quarterly results.