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Markets cautious ahead of key inflation figures
2024-08-12 14:59:09
Markets
Inflation
Economy

Markets cautious ahead of key inflation figures

Image courtesy of : AFP (SPENCER PLATT)

Stock index futures tread cautiously as investors await key inflation figures, including the Consumer Price Index and producer price reports. The S&P 500, Nasdaq 100, and Dow futures saw modest movements, reflecting the uncertainty in the market.

The upcoming economic data will provide insights into the health of the economy amid recessionary fears and discussions of a potential Federal Reserve rate cut. Signs of middle-income consumers' spending power and retail sales reports will also be closely watched.

The past week was volatile, with stocks tumbling before a seesaw session on Friday. Global markets are also bracing for potential impacts, with concerns over a slowdown and the unwinding of the yen carry trade.

Overall, investors are preparing for another big week, anticipating market excitement and closely monitoring the data and earnings reports for potential market reactions.

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Looking Ahead: Key Inflation Data and Economic Reports to Watch

Last week was filled with market volatility, with stocks like S&P 500 and Dow experiencing losses. However, there were some positive highlights, such as Eli Lilly posting blowout quarter while Walt Disney shares fell due to weak theme park performance. Tech stocks like Microsoft are being added for AI growth. Traders have been making adjustments to their portfolios, exiting stocks like Ford and Wynn, while adding stocks like Eaton and AMD. Key inflation data, including PPI and CPI reports, are expected to provide insights into price growth stabilization and potential rate cut expectations from the Fed. This week, we can also expect earnings reports from companies such as Monday.com, Home Depot, Walmart, and Alibaba. Other economic data, including jobless claims, Philly Fed, retail sales, and housing starts, will also be watched closely. Asian stocks are rising ahead of U.S. inflation data, while China's economic slowdown is a concern. India's Nifty 50 faces volatility due to Hindenburg allegations. Overall, investors are preparing for potential market volatility driven by economic data and upcoming events.

Market Outlook: Focus on Inflation and Retail Data Impact

Stock futures remain stagnant before crucial inflation and retail reports. Investors anticipate July PPI and CPI data to gauge price stability. Home Depot and Walmart earnings announcements are imminent. Uncertainty looms over US inflation, impacting yen and potential Fed actions. Technical analysis suggests S&P 500 trends, focusing on key resistance levels. While long-term outlook remains positive, short-term market sentiment is mixed. Attention shifts to upcoming economic figures for broader market direction and potential rate adjustments.

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