The Market Brief
Hey team, let’s recap Thursday’s session, including all the nuances we were considering at the time, along with how they unfolded and see what’s next!
Impact Snapshot
Key Fed inflation gauge at 2.2% in August, lower than expected
🟧 Consumer Sentiment - 10:00am
Macro Viewpoint
Futures tied to the S&P 500 remained mostly flat on Friday as stocks appeared set for a winning week. Investors were also digesting new data showing further progress in reducing inflation.
Encouraging inflation figures gave traders optimism that the Federal Reserve might be more confident in continuing to cut interest rates.
According to a report from the Commerce Department, inflation in August moved closer to the Fed's target, potentially clearing the path for future rate cuts.
Wall Street had a strong session earlier, bolstered by economic data that reassured investors of the U.S. economy's resilience.
Initial jobless claims dropped more than expected, signaling a robust labor market, while second-quarter GDP growth was confirmed at 3%.