Stock market investors on Wall Street are gearing up for a crucial week ahead as they closely monitor key economic reports, particularly inflation data, for clues on the US Federal Reserve’s rate cut plans. Last week, investors’ hopes were buoyed after Federal Reserve chair Jerome Powell hinted at potential interest rate cuts in the near future.
The upcoming economic reports scheduled for release include the consumer price index (CPI) report for February on March 12, US retail sales and producer price index (PPI) for February on March 14, and industrial production for February on March 15. These reports will provide valuable insights into the state of the economy and the Fed’s monetary policy decisions.
In addition to economic data, investors will also be keeping a close eye on quarterly earnings reports from companies such as Oracle, Kohl’s, Dollar General, Adobe, and Ulta Beauty, among others.
Last week, the US markets saw mixed results, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closing in the red. The two-year Treasury yield dipped slightly, while the US dollar weakened against the Japanese yen and euro. Crude oil prices fell, while gold prices rose.
Overall, global markets showed a mixed performance, with European indices trading mixed and Asian markets posting modest gains.
As investors brace for a potentially volatile week ahead, all eyes will be on the upcoming economic reports and earnings releases to gauge the direction of the stock market and the broader economy.
