The Week Ahead: Core PCE, Payrolls and Fed Speakers Put Stocks to the Test

U.S. equities closed higher last week. The Dow Jones Industrial Average finished at 51,828.62, up 0.28% for the week. The Nasdaq Composite closed at 27,068.72, up 2.06%, while the S&P 500 settled at 7,743.41, up 1.21%.

Inflation, growth and Federal Reserve policy remain the primary macro themes. Core PCE inflation is running at 3.3%, above the Fed’s 2% target. The Fed raised interest rates by 25 basis points at its September meeting and signaled at least one additional increase. Consumer spending, AI investment and corporate profits continue to support growth.

Progress Software’s report will focus on its Domo acquisition and AI-related business prospects, while Nike enters earnings season after its removal from the S&P 100. Core PCE data, employment data and a heavy Federal Reserve speaking schedule are the week’s main catalysts. Earnings from Vail Resorts, CarMax, Progress Software, Accenture and Nike will also draw attention.

Progress Software reports fiscal third-quarter results after the close. Analysts expect $1.52 per share, up from $1.50 a year ago, despite a 0.9% revenue decline to $247.59 million. Investors will monitor management’s comments on the $400 million Domo acquisition and its role across application development, developer tools, IT infrastructure, DevOps management and connectivity.

Nike reports fiscal 2027 first-quarter results after the close. Wall Street expects earnings per share to decline 10.2% year over year to 44 cents and revenue to decline 3.3%. Nike was removed from the S&P 100 effective September 21 and was the smallest-weigh...