The Week Ahead
After six straight years of growth and record sales of new vehicles last year, U.S. auto sales appear to be hitting a plateau. Sales of new cars and trucks fell in August, ending the summer on a low note for the auto industry and making it less likely that this year’s auto sales will match the record set in 2015. Did the trend continue last month? Automakers report their September U.S. sales figures Tuesday. A forecast by J.D. Power and LMC Automotive predicts sales declined again last month from a year earlier.
The parent company of KFC, Taco Bell and Pizza Hut serves up its latest quarterly results Wednesday.
Wall Street anticipates that Yum Brands’ third-quarter earnings and revenue increased from a year earlier. Yum Brands has delivered improved earnings through the first half of this year, even as revenue has declined. The company has been preparing to spin off its China business, which has come under pressure after food scares and marketing missteps that hurt sales at KFC and Pizza Hut.
Eye on hiring
Economists predict hiring in the U.S. increased in September.
The Labor Department is expected to report on Friday that nonfarm employers added 170,000 jobs last month. In August, the economy added 151,000 jobs, a modest gain after an increase of 275,000 in July, the most in eight months, and 271,000 in June. Even so, the unemployment rate held steady at 4.9 percent for a third straight month.