Comments from several Federal Reserve officials last week hinted at the possibility of further policy rate hikes, denting optimism about an easing of the tightening that has boosted stocks in previous periods.
The actions They operate with volatility this Monday, marking the beginning of a week full of expectations surrounding crucial data on inflation in the United States and potential consumer resistance to rising borrowing costs. The New York stock market is recovering after starting the first session in the red.
On this day, the Nasdaq Composite, a leading technology index, leads the losses with a decrease of 1.4%. The benchmark S&P 500 erases the initial decline and climbs 0.4%, while the Dow Jones Industrial It also turns around and advances 0.3%.
Attention is focused on Tuesday, the date on which the October consumer price indexa crucial piece of information for the Federal Reserve’s decisions on interest rates. Comments from several Federal Reserve officials last week hinted at the possibility of further policy rate hikes, denting optimism about an easing of the tightening that has boosted stocks in previous periods.
Wall Street: waiting for key data for the economy
The cautious tone intensifies with concerns about the US government’s finances, as Moody’s changes its debt outlook from “stable” to “negative.” The approach of another government shutdown deadline on Friday adds additional pressure. Legislators, apparently without the necessary will, face the fiscal crisis while the debt situation is aggravated by high interest ratesas former Federal Reserve official Bill Dudley warned.
In a bid to liven up the week, key results are expected from large consumer-focused retailers, with notable showings from Home Depot (HD), Target (TGT) and Walmart (WMT).
Fisker (FSR) and Tyson (TSN) results will also be under scrutiny on Monday. Investors will be watching financial updates to better understand U.S. consumer sentiment.especially after recent economic data reflected a decline in their confidence in the country’s economy.
Additionally, attention is expected to focus on the face-to-face meeting scheduled for Wednesday between the President Joe Biden and his Chinese counterpart, Xi Jinping. This meeting, the first in a year, It takes on particular relevance given the recent tense relationship between these superpowers, seen as a potential risk to an already faltering global economy.
Source: Ambito
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