The rallying U.S. stock market will take its cues next week from inflation and consumer spending data, developments in the war in Iran, and a high-stakes meeting between the leaders of the U.S. and China.
U.S. equities have been on a tear, with the benchmark S&P 500 up more than 16% from its low for the year, hit in late March. The strongest U.S quarterly earning season in more than four years has lifted sentiment for equities, while worries about worst-case economic fallout from the Iran war have abated and investors are jumping in for FOMO on gains.
With markets expecting a near-term resolution to the war, investors said they may focus on the CPI's core reading, which strips out energy and could offer clearer clues for projecting the path of interest rates. Following the war-related surge in energy prices, markets have ruled out equity-friendly rate cuts this year, and the latest Federal Reserve meeting indicated more hawkish sentiment from several policymakers.
Other data next week include Wednesday's producer prices, which will offer another look at inflation trends, and Thursday's monthly retail sales, where investors will focus on how much higher gasoline and overall energy costs are eating into other types of consumer spending. This week, the national average price for gasoline topped $4.50 a gallon for the first time since July 2022.
Data, Iran, US-China meeting in focus for scorching US stock market
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Posted by app1310
1 Comment
Blah blah this is nonsense. Prices move then shitty headlines are made after the fact.
The market is a joke and will continue to go up. Ride the wave!