Small Business Optimism, IMF Outlook, Fed Speakers: 3 Things to Watch By

By Liz Moyer

-- Stocks fell again on Monday as investors await the minutes of the Federal Reserve’s September meeting and data on inflation later this week.

Investors are also preparing for the onslaught of corporate earnings, which get off this week with a few companies such as PepsiCo Inc (NASDAQ:PEP), and then later in the week big banks including JPMorgan Chase & Co (NYSE:JPM), Citigroup Inc (NYSE:C), and Morgan Stanley (NYSE:MS).

This latest quarter about to be reported will likely show the strain high inflation is pressing on corporate revenue and profit, and profit margin.

The Fed won’t meet again until November, but officials have been out in recent days to say they are continuing to focus on taming inflation, recognizing that their moves to raise interest rates might cause some pain in the near term.

Here are three things that could affect markets tomorrow:

1. Business optimism

The NFIB Small Business optimism reading for September is due out at 6:00 ET (10:00 GMT). Analysts expect it to be 91.2, a slight tick down from 91.8% in August.

2. IMF outlook

The International Monetary Fund is expected to report its growth outlook for global economies at 9:00 ET as it and the World Bank gather for their annual meetings in Washington, D.C., this week.

3. More Fed speak

Two more Fed officials are among the global central bank representatives expected to speak on Tuesday, including Cleveland Fed President Loretta Mester and Philadelphia Fed President Patrick Harker.

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