US consumer sentiment his 7-month high in October on rate cut relief

Events to look out for on Friday include durable goods data, consumer-goods company results and the latest from the US election campaign trail:

Durable goods: Orders for long-lasting goods like washing machines and aircraft are forecast to have decreased 1 per cent in September after a flat reading in August, according to an LSEG poll of economists.

Consumer companies: Further clues on the resilience of shoppers in the US and around the world will be revealed when consumer-facing companies report this morning. These include toothpaste maker Colgate-Palmolive and Sharpie pen maker Newell Brands.

US election: Vice-president Kamala Harris will hold a rally in Houston, Texas, where global pop star Beyoncé is expected to appear. Meanwhile, former president Donald Trump will hold a rally in the swing state of Michigan.

US consumer sentiment: The University of Michigan’s consumer sentiment index is forecast to report a final reading of 69 in October, down from September’s 70.1. 

Fedspeak: Federal Reserve Bank of Boston president Susan Collins will participate in a fireside chat before the Black Economic Council of Massachusetts Black Expo.