Publication date: September 24, 2026

In this market calendar, we discuss the most important macroeconomic developments and releases that could move the financial markets in the coming week.

A look back at the past week

The stock markets started the week strongly and, on balance, held up well despite growing concerns about interest rates and inflation. Technology stocks, in particular, performed strongly. The Nasdaq even reached a new record high on Tuesday. Starting Wednesday, however, market jitters increased due to another rise in oil prices and strong U.S. economic data, but so far this has mainly led to a partial pullback from earlier gains.

U.S. interest rates remained a key factor in this context. On Wednesday, the 5-year yield rose above 5 percent for the first time since 2007, while the 10-year yield also hovered around that level. Stronger-than-expected data on the U.S. manufacturing and services sectors reinforced expectations that the Federal Reserve may raise interest rates again.

Higher interest rates are a particular concern for technology and growth stocks, as earnings further in the future are valued lower when interest rates are higher.

On the trade front, however, there was positive news this week. The United States and China extended their trade truce, which was set to expire on November 10 by two months, until January 10. President Xi Jinping also visited the White House for talks with President Trump. While there were no major breakthroughs on issues such as trade, AI, and Taiwan, the extension of the trade truce prevents a further escalation between the two countries for the time being.

Outlook for the coming week:

The most important macroeconomic release of the coming week is the core PCE price index. This key indicator of U.S. inflation will be released on Wednesday at 2:30 p.m. In July, the core PCE price index rose 0.2% month-over-month and 3.3% year-over-year. This means that underlying inflation remains well above the Federal Reserve’s 2% target. If the August figure comes in higher, the likelihood of another interest rate hike in late October will increase, putting further pressure on the technology sector in particular. A lower figure, on the other hand, could provide some relief for the stock markets. On Wednesday, the final estimate of U.S. economic growth (GDP) for the second quarter will also be released.

On Friday at 2:30 p.m., the U.S. jobs report for September will be released. In August, 162,000 jobs were added, nearly three times as many as expected, and the unemployment rate remained stable at 4.1%. In the current situation, good news isn’t necessarily good news for the stock market. A strong labor market gives the Fed room to raise interest rates further. A weaker jobs report could actually put downward pressure on interest rates, but a significant setback would heighten concerns about economic growth.

Earlier on Friday, Eurostat will release its first estimate of inflation in the eurozone for September. In August, inflation came in at 3.2%, mainly due to higher energy prices. The ECB raised interest rates to 2.50% on September 10. A further rise in inflation makes another rate hike more likely.

In addition, investors continue to closely monitor developments in the Middle East. The tensions are driving up energy prices, which could further fuel inflation and thus create upward pressure on interest rates. Conversely, a reduction in geopolitical tensions could bring relief to the financial markets.

Economic calendar for Week 40

Below is an overview of the most important macroeconomic releases for the coming week. These figures may lead to increased volatility in the financial markets.

Monday, September 28, 2026:

United States:

No major macroeconomic releases.

Tuesday, September 29, 2026:

United States:

• 4:00 p.m.: Job Openings and Labor Turnover Survey (JOLTS) – August
• 4:00 p.m.: Conference Board Consumer Confidence Index for September

Wednesday, September 30, 2026:

United States:

• 2:15 p.m.: ADP Employment Report for September
• 2:30 p.m.: Core PCE Price Index for August
• 2:30 p.m.: Gross Domestic Product, second quarter (third estimate)
• 10:30 p.m.: Micron quarterly earnings
  
  

Thursday, October 1, 2026:

United States:

• 4:00 p.m.: ISM Manufacturing Purchasing Managers' Index for September
• 10:15 p.m.: Nike quarterly earnings

Friday, October 2, 2026:

Europe

• 11:00 a.m.: Eurozone Consumer Price Index for September (initial estimate)
  
  

United States:

• 2:30 p.m.: September jobs report
• 2:30 p.m.: September unemployment rate

Please note that publication dates and times are subject to change. For the most up-to-date information, always consult the official communication channels of the relevant institutions and government agencies.

Disclaimer: Investinginvolves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. They are therefore intended for educational purposes only.