This Week: Producer prices, Rivian IPO, job openings
The Labor Department delivers its October barometer of U.S. wholesale prices Tuesday
A look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department delivers its October barometer of U.S. wholesale prices Tuesday.
Economists expect the producer price index, which measures inflation before it reaches consumers, rose 0.5% last month. That would match the increase in September, which followed a 0.7% gain in August. Inflation at the wholesale level climbed 8.6% in September from a year earlier, the largest advance on records back to 2010.
Producer price index, monthly percent change, seasonally adjusted:
May 0.9
June 0.6
July 1.0
Aug. 0.7
Sept. 0.5
Oct. (est.) 0.5
Source: FactSet
ELECTRIFYING DEBUT?
Electric vehicle startup Rivian Automotive makes its stock market debut Wednesday.
The 6-year-old company has drawn backing from Amazon, Ford, and other deep-pocketed investors. Last year, it raised $2.5 billion from accounts advised by investment firm T. Rowe Price, and it’s become a standout among fledgling EV startups. Its ticker symbol will be “RIVN” on the Nasdaq.
JOB MARKET BELLWETHER
The government delivers its latest monthly snapshot of U.S. job openings Friday.
The Labor Department is expected to report that U.S. employers advertised 10 million open jobs in September. That would be down from the 10.4 million jobs advertised by employers in August. The unprecedented demand for workers comes as employers struggle to fill open positions because many people who lost jobs in the pandemic have yet to start looking again.
JOLTS job openings, in millions, by month:
April 9.19
May 9.48
June 10.19
July 11.10
Aug. 10.44
Sept. (est.) 10.0
Source: FactSet
