Wall Street Is Holding Back Ahead of US Inflation Figures
Traders are bracing for July inflation data that could reinforce a September Federal Reserve rate hike, while Brent crude rose 5.15%, analysts said.
- Traders and investors are nervously awaiting the consumer price index report on Wednesday, with the producer price index expected Thursday, following Monday's market declines as traders brace for potential Federal Reserve action.
- Should inflation spike back to May levels or worse, the Federal Reserve may lock in a 25 basis point rate hike in September, heightening market caution ahead of Wednesday's data release.
- Major indices finished lower on Monday, with the Nasdaq closing down 0.32% at 26,605, the Russell 2000 down 0.56% at 3,017, and the S&P 500 falling 0.06% to 7,753.
- Bitcoin traded at $64,225 while Ethereum hit $1,890 as crypto markets grew cautious, even as gold extended its seven-month best week to close at $4,388.
- Brent Crude surged 5% to $88 amid Strait of Hormuz tensions, while Bank of America noted that 10 times more ships need passage to stabilize oil markets.
29 Articles
29 Articles
On Wednesday, US consumer prices are reported for July. Wall Street calculates a lower inflation rate than in June, says Markus Koch and explains how this could affect the markets.
The summer calm settled in Wall Street, where Wednesday's inflation could finally put a little movement back on. ...
Here Are Tuesday’s Top Wall Street Analyst Research Calls: Airbnb, AppLovin, Autodesk, Best Buy, BigBear.ai, Boeing, Fiserv, Jabil, Spotify Technology and More
Wall Street analysts are reshuffling their bets ahead of a critical inflation report, with major calls hitting Airbnb, AppLovin, Boeing, Spotify, and a handful of others that could move your portfolio before the week is out.
The market stabilized after its best week since mid-April, as the new rise in oil prices, the standoff with Iran and critical inflation data bring back uncertainty about the Fed's next moves.
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