Were Powell’s Comments Really That Bullish?
What’s in Today’s Report:
- Were Powell’s Comments Really That Bullish?
- Weekly Market Preview: Does the Tech Pullback Continue? (NVDA Earnings on Wednesday)
- Weekly Economic Cheat Sheet: More Focus on Inflation (Core PCE Price Index on Friday)
Futures are modestly lower mostly on digestion of Friday’s big rally and following a quiet weekend of news.
Economically, the only notable report was German IFO Business Expectations, which jumped to a one year high (91.6 vs. (E) 90.8).
There was no notable geopolitical news over the weekend.
Today there are two economic reports, Chicago Fed (Prior: -0.10), New Home Sales (E: 628K) and two Fed speakers, Logan (3:15 p.m. ET) and Williams (7:15 p.m. ET), but none of that should move markets as the economic reports shouldn’t change the outlook for growth while Powell largely acknowledged a likely rate cut in September (making other Fed commentary less important).
On earnings, there are two reports to watch today: PDD ($1.69) and HEI ($1.12).
