Are Emerging Markets Finally A Buy?
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What’s in Today’s Report:
- Are Emerging Markets Finally A Buy?
- FOMC Minutes: Did They Reinforce Rate Cut Expectations?
Futures are slightly lower mostly on digestion of Wednesday’s rally and as markets look ahead to today’s important economic data (CPI and claims).
Economically, Germany updated the last several retail sales reports and the net change was slightly better than expected, although that’s not moving markets.
Today focus will be on economic data as we get two potentially market moving reports: CPI (E: 0.1% m/m, 2.3% y/y) / Core CPI (E: 0.2% m/m, 3.2% y/y) and Jobless Claims (E: 226K). Goldilocks data, meaning an in-line CPI/Core CPI report and stable jobless claims, will keep soft landing hopes strong and likely boost stocks later today.
We also have several Fed speakers today including Cook (9:15 a.m. ET), Barkin (10:30 a.m. ET) and Williams (11:00 a.m. ET) but none of them should move markets.
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