Week ahead: August PPI and CPI land Sept 10-11, with Oracle and Adobe reporting the same day

The coming week compresses an unusual amount of event risk into three sessions. The Bureau of Labor Statistics releases August producer prices on Thursday September 10 at 8:30am ET and August consumer prices on Friday September 11 at the same hour . Both land immediately before the Federal Reserve's September 15-16 meeting, where the target range currently sits at 3.50% to 3.75% and has been unchanged since December 2025. Futures pricing was leaning toward a hold when CME's FedWatch reading was last widely cited on August 25, but that snapshot is nearly two weeks old and last week's stronger-than-expected August payrolls print has already moved the debate.

The Treasury adds a second source of yield pressure across the same days. The department sells 6-week, 13-week and 26-week bills alongside a 3-year note on September 8, a 17-week bill and a 10-year reopening on September 9, and 4-week and 8-week bills alongside a 30-year reopening on September 10. Long-end auctions arriving hours before a CPI print is the kind of sequencing that turns a modest inflation surprise into an outsized move in duration.

Corporate results are stacked on the same Thursday. Oracle reports fiscal Q1 2027 after the close on September 10, with consensus near $19.1 billion to $19.5 billion of revenue and non-GAAP EPS of roughly $1.73 to $1.77; the company's own guidance of $1.72 to $1.76 on 27% to 29% revenue growth sits at the low end of that band. ADBE reports fiscal Q3 2026 the same afternoon, where the setup is the reverse: consensus of about $6.644 billion and $5.88 non-GAAP EPS sits below Adobe's own guidance of $6.67 billion to $6.72 billion and $6.05 to $6.10. Two AI-exposed software franchises printing within minutes of each other gives the market a clean read on whether enterprise AI spending is still converting into recognised revenue.

Energy is the wildcard that could overwhelm all of it. Brent settled at $96.28 a barrel on September 4, up about 21% over the month and roughly 9% on the week, its strongest weekly gain since mid-July, a move traders have attributed to renewed US-Iran military exchanges. A crude market moving in double digits weekly feeds directly into the next two inflation prints rather than this one, which is what makes the combination awkward: a soft August CPI would not settle the question if September energy costs are already running hotter. Watch the PPI print for early pass-through in energy and transport components, the 30-year auction's tail on Thursday afternoon, and whether Oracle's and Adobe's guidance holds up against their own prior ranges.

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