WEEKLY MARKET REPORT📅:
🔹Monday: Fed’s Waller Speech
🔹 Tuesday: Consumer Confidence; Fed’s Cook, Bowman; $FDX $CCL Earnings
🔹 Wednesday: New Home Sales; $MU $GIS Earnings
🔹Thursday: Q1 GDP, Jobless Claims, Durable Goods Orders, Pending Home Sales; $NKE $WBA Earnings
🔹Friday: PCE Inflation, Chicago PMI, Consumer Sentiment
🔸Global stocks rose as traders geared up for a week laden with political risk and inflation data.
🔸 Markets are at a critical juncture heading into the second half of 2024, with an uncertain outlook for central-bank policy rates.
🔸This week is relatively data-light except for the key PCE data which will be a big driver, and the Trump-Biden debate will be a major event
🔸The outlook hinges to a large extent on whether the Federal Reserve’s favored inflation yardstick shows a softer monthly advance in price growth.
🔸The enthusiasm surrounding artificial intelligence has lifted the market significantly this year even as investors grappled with shifting expectations for rate cuts and a slowing economy.
🔸Investors will closely monitor May’s personal consumption expenditure data, the Federal Reserve’s preferred inflation gauge, which is set to be released Friday morning.
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