1. Fed chair Powell speaks
We'll hear from Federal Reserve Chairman Jerome Powell for the first time since key economic data was reported.after U.S. manufacturing data missed estimates on Tuesday, coming in at its lowest level in a decade. But Friday's jobs report, which showed unemployment at its lowest level in 50 years, somewhat hampered recession fears.
Traders are currently pricing in a 74% chance of a 25 basis point rate cut at the Fed's October meeting, according to theFederal Reserve Chairman Jerome Powell will deliver remarks at the National Association for Business Economics' annual meeting in Denver, Colorado. Following the Chairman's prepared remarks, there will be a moderated Q&A.A slew of economic data comes in Tuesday. First up, we'll get a read on China's economy when Caixin PMI for September is reported.
At 8:30 a.m. ET, U.S. producer prices for September will come in, followed by consumer prices on Thursday. The PPI reading can help determine the overall health of the economy since it provides insight into how much businesses are spending on raw goods and services.