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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