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With the markets still digesting the hawkish comments from the US Federal Reserve Chair, Jerome Powell, at the Jackson Hole Economic Symposium, investors await another eventful week, full of important economic releases.
Which economic reports are due this week?
Inflation in the US has been hitting new records in recent times, although some easing was seen in July. The annual inflation rate in the US slowed to 8.5% in July, compared to the 40 + year high of 9.1% recorded in June. Energy CPI increased just 32.9%, after reaching a 42-year high of 41.6% a month ago, following a major slowdown in gasoline prices. Data on the inflation rate for August will be released on Tuesday, September 13.
Annual producer inflation also decelerated to 9.8% in July, recording the lowest level since October 2021. The markets will be watching PPI data for August, as well as further signs of easing in the inflation level. Data on retail sales and industrial production will be released on Thursday, September 15.
How could these reports impact the Fed’s upcoming rate decision?
The US recently released jobs data for August, with a higher-than-expected rise in nonfarm payrolls, but lower-than-expected increase in wages. So, the recent jobs report was a mixed bag, which might not significantly impact the Fed’s decision. Therefore, the upcoming data on inflation could drive the central bank’s decision, as another acceleration in the inflation rate might confirm a bigger 75 bps rate hike.
Dow Jones outlook
The release of these major economic reports is expected to significantly impact the equity markets, including stocks listed on the Dow Jones. The blue-chip index might receive some support if these reports come in better than the analyst estimates.
Get ready for this big week in the stock markets.
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