The Market Brief
Hey team, an eventful week has concluded. Let’s review Friday’s session, how the week closed, and see what’s next for the markets!
Impact Snapshot
Services/Manufacturing PMI - Monday
Consumer Confidence - Tuesday
Q2 GDP -Thursday
Fed Chair Powell Speech - Thursday
Unemployment Claims - Thursday
PCE Inflation - Friday
Macro Viewpoint
The S&P 500 climbed 1.4% this week as investors reacted positively to a half-point interest rate cut by the Federal Reserve.
This rate reduction, the first by the Federal Open Market Committee since 2020, lowers the federal funds rate to a range of 4.75% to 5%.
Following the Federal Reserve’s significant half-point cut, Wall Street is gearing up for an eventful week ahead, with several central bank officials set to speak.
Traders will be eager for insights on the recent decision and any indications of further monetary policy easing.
Next week’s economic calendar includes key growth indicators such as September’s flash PMIs, the third estimate of U.S. Q2 GDP, and August's core personal consumption expenditures (PCE) price index, the Fed’s preferred measure of inflation.