The Week Ahead: Will CPI and PPI Reports Push Stocks to New Record Highs?

Author: James Hyerczyk

Updated: September 6, 2026

Key Points

• The upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) reports will be critical in assessing rate-hike expectations and the potential for new record highs in the stock market.
• Oracle's earnings report is anticipated to provide insights into AI data-center spending, which is significant for the technology sector.
• Hot inflation data could trigger a market correction, while cooler readings may support further gains.

Market Overview

U.S. equities displayed mixed results at the end of the week. The Dow Jones Industrial Average closed at 53,414.25, down 0.27%. The Nasdaq Composite rose to 26,506.99, up 0.40%, and the S&P 500 settled at 7,718.60, up 0.09%.

Federal Reserve policy remains a focal point, with August payrolls increasing by 162,000, significantly above the forecast of 55,000. The unemployment rate held steady at 4.1%, while wage growth slowed to 3.1%. As of late Friday, Fed funds futures indicated a 57% probability of a rate hike in September.

Upcoming Economic Releases

The week is shortened due to Labor Day, but key inflation reports are scheduled: PPI on Thursday and CPI on Friday, just ahead of the FOMC meeting on September 15-16.

Key Economic Releases & Notable Earnings

Monday, September 7

• No earnings reports scheduled.
• Bank Holiday.

Tuesday, September 8

• ABM Industries (ABM), estimated earnings: $1.01 per share.
• United Natural Foods (UNFI), estimated earnings: $0.61 per share.
• Economic Releases: NFIB Small Business Index, Consumer Credit m/m.

Wednesday, September 9

• Multiple earnings reports including Academy Sports + Outdoors and Chewy.
• Economic Releases: ADP Weekly Employment Change, 10-y Bond Auction.

Thursday, September 10

• Oracle (ORCL), estimated earnings: $1.74 per share, significant for AI trade.
• Economic Releases: Core PPI, PPI, Unemployment Claims, Existing Home Sales.

Friday, September 11

• Kroger (KR), estimated earnings: $1.06 per share.
• Economic Releases: Core CPI, CPI, Consumer Sentiment, Federal Budget Balance.

Technical Outlook

All major indices remain above their rising 52-week SMAs, indicating a sustained long-term uptrend. The Dow Jones, Nasdaq, and S&P 500 are positioned near record highs, with upcoming inflation reports likely to influence market direction.

Outlook

The PPI and CPI reports are pivotal for market sentiment ahead of the FOMC meeting. Economists predict a rise in Core PPI and PPI, while CPI is expected to show a monthly gain. A CPI in line with or below expectations could support the Fed's decision to maintain current rates, while a rise in inflation could prompt a rate hike.

Conclusion

Traders will closely monitor the inflation data and earnings reports from Oracle, AeroVironment, and Kroger to gauge market sentiment and potential movements in the indices.