What’s in Today’s Report:
- All About Demand
- Weekly Market Preview: The Fed and Inflation
- Weekly Economic Cheat Sheet: Fed Meeting, Core PCE Price Index and GDP.
Futures are marginally lower as increased concerns about regulation in China caused a sharp drop in Chinese shares, and that’s weighing on global equities.
The Hang Seng dropped more than 4% on Monday on fears of increased regulation from the Chinese government, following reports China was going to make the education business sector “not for profit.”
COVID headlines remained generally unchanged over the weekend as cases continued to rise in the U.S, although governments continue to resist restrictions and lockdowns.
Today there’s only one notable economic report, New Home Sales (E: 800k), and that shouldn’t move markets. On the earnings front, the key report today comes after the close (TSLA $0.96), so focus will be on COVID headlines and if there are any reports of increased restrictions or lockdowns here in the U.S., that will hit stocks.