The Market Brief
Hey team, despite the new highs seen last week, the market has shown a more muted response with no real conviction, which coincided with the quarterly options expiry.
Let’s evaluate today’s market and see what’s next!
Impact Snapshot
🟥 Flash Manufacturing/Services PMI - 9:45am
Futures point to flat open after Fed sent stocks to record
Macro Viewpoint
U.S. equity futures signaled a flat day on Wall Street, with stock indexes hovering near record highs as traders awaited new indications of potential further easing following last week’s substantial interest rate cut by the Federal Reserve.
Investors look ahead to remarks from several policymakers and key economic data to assess the outlook for interest rates and the health of the economy.
The Fed's key monetary policy decision last week helped lift Wall Street's major indexes, leading to monthly gains despite September's historical reputation as a typically weak month for equities.
Further out this week, the main focus point will be Fed’s preferred price metric and data on US personal spending, due on Friday.