The Fed will publish the “Beige Book” with its interpretations of the US economy and data on the personal consumption expenditure index are expected.
The stock indices of Wall Street They fall this Monday awaiting a key inflation reading and the comments of the authorities of the Federal Reserve (Fed), due later in the week, while shares of some retailers rise as holiday shopping gains momentum with Cyber Monday deals.
He Dow Jones loses 51.61 points (0.15%), to 35,338.54 units; he S&P 500 falls 10.56 points (-0.23%), to 4,548.78 units, and the Nasdaq Composite gives up 25.34 points (-0.18%) to 14,225.51 units.
Investors are waiting the publication of the “Beige Book”the compendium of reports of the Fed about the economy, and data from the index of personal consumption expenditure of October during the week, which would help give clues about the next Fed rate decision.
Wall Street ended the Thanksgiving week on a positive note, and the major indices posted their fourth consecutive week of gains thanks to growing optimism that the Federal Reserve has finished raising interest rates.
Effect of Black Friday and Cyber Monday on stocks
American retailers were in the spotlight after the “Black Friday” and at the start of Cyber Mondaywhere shoppers looking for deep discounts are expected to spend a record $12 billion to $12.4 billion.
The Amazon.com and Walmart shares they rise 1% and 0.4%, respectively. The retail sector of the S&P 500, which includes Amazon, gained 0.5%.
Attention will also be focused on a number of Fed officials speaking at different conferences this week, with the chairman expected to Jerome Powell participates in a fireside chat on Friday.
The operators have discounted the possibility of a pause in rate hikes in Decemberand see a 55% chance of a rate cut of at least 25 basis points in May 2024, according to CME Group’s FedWatch tool.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
