The Week Ahead: Fed meeting, Father’s Day, Consumer Price Index

Here’s a look at some of the stories Missouri Business Alert is tracking this week:

Monday

Gov. Jay Nixon will participate in a presentation about the outdoor economy at a Western Governors’ Association meeting in Wyoming. Missouri State Parks welcomed a record 19.2 million visitors in 2015, the governor’s office reports.

Tuesday

The Census Bureau will release its monthly report on retail sales. Following strong sales growth in April, more modest gains are expected for May, Bloomberg reports.

Isle of Capri Casinos, the St. Louis-based casino operator, is scheduled to report earnings for its fourth quarter and all of Fiscal 2016.

Wednesday

The Federal Reserve Bank’s Federal Open Market Committee concludes its two-day meeting with an announcement about the federal funds rate target. The rate is expected to remain unchanged, Bloomberg reports, following a weak May jobs report.

Insurer Progressive is set to report quarterly results.

Thursday

The Labor Department will release its monthly Consumer Price Index. Despite a sharp increase in gasoline prices in May, consensus estimates call for a moderate gain of 0.3 percent in the CPI, Bloomberg reports.

Kroger Co. and Smith & Wesson are among the companies scheduled to release earnings.

Friday

The Labor Department will release regional and state unemployment numbers for May. In April, Missouri had an unemployment rate of 4.3 percent, up from 4.2 percent the previous month but down from 5.2 percent in April 2015.

Mule jumping, blacksmiths and lots of song and dance will be on display in downtown West Plains at the 22nd annual Old-Time Music Ozark Heritage Festival. The event, which runs Friday and Saturday, celebrates the music and culture of the Ozark Highlands.

Sunday

U.S. consumers are expected to spend $14.3 billion for Father’s Day, the National Retail Federation reports. That’s a record for Father’s Day but lags behind this year’s Mother’s Day spending of $21.4 billion, according to the NRF. The biggest expected expenditure for consumers will be meals and other special experiences, with spending on those projected to reach $3.1 billion.


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