The Most Important Central Banker This Week (Not Powell)
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What’s in Today’s Report:
- The Most Important Central Banker This Week (Not Powell)
Futures are slightly higher on better than feared tech earnings and more global central bank rate cuts.
Palo Alto Networks (PANW) posted solid guidance and that, along with CSCO results last week, is helping to bolster the outlook for tech and that’s supporting futures.
Sweden’s Riksbank (their central bank) cut rates 25 bps, as expected, and that reminded investors we are in the midst of a global rate cutting campaign (which is a positive).
There are no notable economic reports today but there are two Feds speakers, Bostic (1:35 p.m. ET) and Barr (2:45 p.m. ET) and if they join other colleagues in expressing openness to cutting rates in September, it should be a mild tailwind for stocks.
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