• Tuesday: Consumer Confidence; $META event
• Wednesday: New Home Sales; $MU Earnings
• Thursday: Q2 GDP, Jobless Claims, Durable Goods Orders, Pending Home Sales; Fed Chair Powell Speech; $COST Earnings
• Friday: PCE Inflation, Consumer Sentiment ⚠️
US equities climbed and Treasuries fell after data showing US business activity is robust even as growth moderates, further stoking confidence the world’s largest economy can nail a soft landing.
The S&P 500 edged 0.4% higher, trading in a narrow range after manufacturing data and comments from Fed officials on Monday.
US business activity expanded at a slightly slower pace in early September, according to data released Monday, while expectations deteriorated and a gauge of prices received climbed to a six-month high.
Investors are looking for fresh signs on the scope for further easing after the Federal Reserve’s half a percentage point interest-rate cut last week.
Traders have been wagering on nearly three-quarters of a point more in rate cuts by year end, a slightly more aggressive path than what policymakers have indicated.