The Market Brief
Hey team. All three major U.S. stock indexes are on track for weekly losses, as a sharp post-election rally has lost momentum, with market attention turning to the health of the economy and potential inflation risks.
Let’s re-cap yesterday’s session and see what’s next!
Impact Snapshot
🟥 Retail Sales - 8:30am
Macro Viewpoint
U.S. stock index futures fell on Friday after Federal Reserve Chair Jerome Powell signaled there was no urgency to reduce interest rates, lifting bond yields and weighing on rate-sensitive equities.
Several Fed policymakers have advocated a cautious stance on easing, citing the strong economy, persistent inflation concerns, and prevailing uncertainties.
These remarks led traders to lower their expectations for a December rate cut, with the odds dropping to below 60% from around 80% just a day earlier.
Meanwhile, October's consumer and wholesale price increases, although in line with forecasts, rose from the previous month, indicating lingering areas of economic heat.
