Week ahead: Federal Reserve expected to leave interest rates unchanged; FedEx and others to report earnings

All eyes will be on the Federal Reserve next week. The FOMC is expected to hold interest rates where they are after hiking them to their highest level in more than two decades in July. 

Monday, September 18

The week will start relatively quietly, but those interested the housing market will have something to watch for with the home builder confidence index due out at 10 am ET. 

Others due to report: 

Earnings: Stitch Fix, Investcorp Credit Management Bdc

Tuesday, September 19 

AutoZone is scheduled to report its quarterly results before the market opens on Tuesday, when investors will be watching to see if the auto parts retailer can maintain its streak of earnings surprises. 

In the past two quarters, the company has posted an average earnings beat of more than 13%. This time around, the retailer has a Zacks Earnings Expected Surprise Prediction of ...read the preview. 

Others due to report:

Earnings: Steelcase

Economic announcements: Housing starts, building permits

Wednesday, September 20

FedEx (NYSE:FDX) is expected to deliver lower revenue but higher earnings when it reports first-quarter results after the closing bell on September 20 as measures it is taking to transform its business gain traction.

Under its DRIVE program, the package delivery giant is aiming to become a more flexible, efficient and data-driven organization ...read the preview. 

General Mills (NYSE:GIS) is expected to report higher revenue but lower earnings when compared to the same period last year when it hands down its first-quarter fiscal 2024 results.

For the quarter, analysts expect the Cheerios, Pillsbury and Betty Crocker parent company to post revenue of $4.88 billion compared to ...read the preview. 

Meanwhile, the US Federal Reserve is expected to leave interest rates unchanged after raising them to their highest level in 22 years in July, but economists think it will be interesting to see how Jerome Powell leaves the door open for a potential future hike ...read the macro preview.

Others due to report:

Earnings: KB Home (NYSE:KBH)

Thursday, September 21

In the aftermath of Powell's Wednesday speech, a slew of economic data will be released Thursday morning, headlined by initial jobless claims. 

Others due to report:

Earnings: Scholastic Corp, Flux Power (NASDAQ:FLUX) Holdings

Economic announcements: Philadelphia Fed manufacturing survey, US current account deficit, US leading economic indicators, existing home sales  

Friday, September 22 

Following the rate decision, Friday will see speeches from Fed Gov. Lisa Cook, Minneapolis Fed President Neel Kashkari and San Francisco Fed President Mary Daly. 

Others due to report:

Economic announcements: S&P flash US services PMI, S&P flash US manufacturing PMI