Updated Market Outlook
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What’s in Today’s Report:
- Updated Market Outlook
- Weekly Market Preview: Will Powell Confirm A September Rate Cut?
- Weekly Economic Cheat Sheet: The First Big Number of August (and It Needs to be Goldilocks)
Futures are little changed following a very quiet weekend of news as investors look ahead to more growth data this week and Powell’s speech on Friday.
There was no notable economic data over the weekend or overnight.
Geopolitically, optimism is continuing to build towards a ceasefire between Israel and Hamas and that’s weighing on oil prices, although nothing formal has been announced.
Today there is only one economic number, Leading Indicators (E: -0.3%), and barring a big surprise that shouldn’t move markets. There is also one Fed speaker, Waller (9:15 a.m. ET), and he is part of Fed leadership so if he strongly hints at a September rate cut, that should be a mild tailwind for stocks and bonds.
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