Consumer prices, unemployment insurance claims, Victoria’s Secret earnings and more: Thursday’s 5 things to know

Here are the key events taking place on Thursday this could have an impact on trade.

The most anticipated economic report of the week is released at 8:30 a.m. ET on Thursday…

CONSUMER PRICE: The Bureau of Labor Statistics is expected to report that the consumer price index rose 0.2% month over month in September, slightly above August’s 0.1% pop.

Year-over-year, watch for prices to climb 8.1% in September, after posting a higher-than-expected 8.3% rise in August on the back of moderating energy costs.

WHOLESALE INFLATION RISES MORE THAN EXPECTED IN SEPTEMBER

That would be the lowest since February and the third consecutive month of slowing growth after June’s 9.1% surge, the highest inflation rate in nearly 41 years.

“As the COVID pandemic has faded into the background, inflation has become public enemy number one. Pending the monthly retail price update, it appears that the year-on-year change the other of the CPI will remain elevated through the end of the year,” said Mark Hamrick, senior economic analyst at Bankrate.com. “There has been relief from the high gasoline prices that have tend to aggravate consumers the most, but high food and housing prices seem to linger for some time as unwanted visitors.”

Adjusting for volatile food and energy costs, the core consumer price index is expected to rise 0.5% in September, slightly off a peak of 0.6% the preceding month.

Annually, the core CPI should climb 6.5% in September. It would be the second consecutive month of rising core inflation, after a bigger than expected peak of 6.3% in August.

APPLICATIONS FOR UNEMPLOYMENT BENEFITS: The Labor Department will release the number of new jobless claims last week, which should show that the labor market remains tight. Expectations are for 225,000, up slightly from the higher than expected 219,000 the previous week.

Continuing claims, which track the total number of workers collecting unemployment benefits, are expected to rise for a second week to 1.365 million.

PEOPLE’S VIEWS ABOUT THEIR PERSONAL FINANCES HAVE BECOME MORE NEGATIVE: POLL

VICTORIA’S SECRET: The shares rose 3% in premarket trading. The owner of Victoria’s Secret, PINK and Happy Nation said so expects third quarter operating profit will be towards the top of its previously disclosed guidance range of $10 million to $40 million, and earnings are expected to be towards the top of its previously disclosed guidance range of $0.00 to $0.25 per diluted share.

The updated guidance for operating profit and earnings per diluted share is based on a decline in net sales in the high single digit range from a year ago, which is in line with guidance previously disclosed by the company.

The world’s largest specialty lingerie retailer is hosting an Investor Day Thursday in Chicago.

TIMKENSTEEL: The shares were down more than 3% in premarket trading. The high-grade specialty steel maker said an explosion at a smelter in July that killed one worker and seriously injured two others impacted third-quarter profitability.

The company expects adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to be between about $9 million and $12 million.

Net sales decreased 24% to $316.8 million from the second sequential quarter, due to lower shipments and additional revenue per ton, partially offset by higher base selling prices.

The company released its full third quarter results on November 3.

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EARNING CALENDAR: On Friday, a handful of companies will release their third-quarter results before the big banks. Watch for results from Dow member and drug retailer Walgreens Boots Alliance, the world’s largest asset manager BlackRock and Delta Air Lines, all released ahead of Thursday’s opening bell.