Stocks are down as equities face pressure from the Federal Reserve, while negotiations in Hollywood and a fiscal standoff in Washington weigh on traders. The tech-heavy Nasdaq Composite has fallen by 5.9% and the benchmark S&P 500 is down 4.2% for the month. In political news, American legislators are attempting to resolve a continuing budget impasse before the federal government’s operating budget runs out on October 1. Meanwhile, Amazon plans to invest up to $4 billion in artificial intelligence company Anthropic, and oil prices increase on projections of a significant shortfall in supply.
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The recent jobs report suggests that the Federal Reserve will hold interest rates steady. Stocks are performing well, but concerns about China’s economic data may impact the global economy. The Reserve Bank of Australia is expected to keep rates unchanged, while oil prices may be influenced by supply concerns. Economic indicators indicate a soft landing for the economy, supporting the idea that the Fed’s rate hikes are nearing an end. This week, data on service sector activity and the Fed’s Beige Book will provide further insights. The U.S. stock market will be closed on Monday for Labor Day. In China, weak demand and a worsening property crisis are affecting economic recovery. Oil prices have surged due to supply concerns, and Saudi Arabia may extend production cuts. The Reserve Bank of Australia is anticipated to maintain interest rates due to a slowdown in inflation and an increase in the unemployment rate.
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The annual meeting of the central bank in Jackson Hole, Wyoming is highlighted by Federal Reserve Chairman Jerome Powell’s speech. The worsening crisis in China’s real estate market and PMI data from the UK and Eurozone are expected to impact the economy. Investors are eager to hear Powell’s speech for insight into interest rates and the state of the economy. Furthermore, market observers will be monitoring for any indications of potential interest rate cuts in 2024. The speech will also provide information on the outlook for interest rates and the earnings of chipmaker Nvidia. Oil prices have faced downward pressure due to concerns over global demand and the escalating property crisis in China.
As inflation data is revealed in the upcoming week, all eyes will be on the United States. The UK’s GDP report will demonstrate how the economy is faring in the face of ongoing rate increases. Data from China may indicate that the second-largest economy in the world is at risk of deflation. This information will help you get your week started.
On Thursday, the United States is scheduled to reveal data on July’s inflation, which will demonstrate if price pressures are declining and whether markets are right to believe that the Fed is about to cease its aggressive cycle of interest rate hikes.
Lower numbers would increase the likelihood that the Federal Reserve will decide against increasing interest rates at its upcoming September meeting following a quarter-point increase last month.
This week will be dominated by central bank meetings as the Federal Reserve and the European Central Bank are expected to announce rate increases. The Bank of Japan, however, is expected to hold the line. Investors are closely watching the market for signs of a turning point and oil prices are expected to rise further despite supply concerns. The focus is on whether this will be the final rate hike in the Fed’s tightening cycle. The ECB’s intentions for September are also under scrutiny as inflation remains above target. Economic data will guide future decisions, according to ECB President Christine Lagarde. The BoJ’s monetary policy decision will be closely watched, as rumors of a policy shift persist. The Fed’s announcement will test the resilience of US equity markets, which have been surging. Investors are particularly interested in the performance of growth and tech stocks, such as Microsoft and Alphabet. Oil prices have been increasing due to supply limitations and geopolitical tensions.
The Federal Reserve is expected to raise rates, June inflation figures for the US will be in the spotlight. Big bank results and data from China also anticipated. Oil prices may surge due to rate increase from the Bank of Canada. Consumer price index and core CPI expected to rise. June jobs report showed weak job creation but high pay growth. Fed officials will provide insights. Big banks to disclose Q2 results. Analysts anticipate slow dealmaking and trading revenue. China’s inflation and trade data expected to show sputtering recovery. Beijing battling faltering economy and high-tech trade conflict. Bank of Canada likely to hike rates after strong jobs data. RBNZ to keep rates on hold. Oil prices reach nine-week high due to supply issues and technical buying. OPEC+ announces more output cuts. Weakened dollar lifts oil prices and may increase demand.
This week, investors are eagerly awaiting the nonfarm payrolls report and the Federal Reserve’s meeting minutes. The stock markets have gained momentum in the first half of the year, and there are expectations for additional stimulus measures from China. The main focus will be on the United States’ employment report, with economists anticipating a gain of 200,000 jobs in June. Additionally, there will be updates on other aspects of the labor market before Friday’s report. Investors will also be looking for insights from the Fed’s meeting minutes, which could shed light on the argument surrounding monetary policy tightening.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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