What’s in Today’s Report:
- What Happens After Inflation Peaks?
- Weekly Market Preview: Fed Decision Wednesday
- Weekly Economic Cheat Sheet: Q2 GDP and Inflation Stats are the Highlights
Futures are modestly higher as markets bounce from Friday’s declines, following a quiet weekend and as investors look forward to numerous important catalysts this week.
Chinese authorities are considering some restrictions on movement in Shanghai as COVID cases rise, but are still resisting broad lockdowns (for now).
Economically, German Ifo Business Expectations declined further (80.3 vs. (E) 83.3).
Today there’s only one notable economic report, the Chicago Fed National Activity Index (E: 0.05), and markets will want to see stability here following last week’s disappointing data. If this number is surprisingly weak (like the PMIs last Thursday/Friday) then that will likely weigh on stocks as recession fears grow.
Earnings season continues and this will be a very busy and important week for results. Some earnings we’ll be watching today include: WHR ($5.22), NXPI ($3.39), and LOGI ($3.39).