Reserve Bank of Australia

Key events: USA - Core CPI (MoM) (Nov) USA - CPI (YoY) (Nov) Canada - BoC Interest Rate Decision USA - Crude Oil Inventories USA - 10-Year Note Auction The S&P 500 marked its second consecutive day of losses as the tech sector continued to struggle, overshadowing a strong performance by Alphabet. This comes as investors brace for key inflation data, which could shape expectations for future Federal Reserve actions.

Key events: Australia - RBA Interest Rate Decision (Dec) The S&P 500 experienced a downturn on Monday as technology stocks, led by Nvidia, came under pressure just ahead of significant inflation data set for release this week. The Dow Jones Industrial Average fell by 240 points, or 0.5%, while the S&P 500 dropped 0.6%, and the Nasdaq Composite also declined by 0.6%.

Key events: USA - Initial Jobless Claims The S&P 500 and Nasdaq continued their upward momentum on Wednesday, achieving record-high closes for the third consecutive session. Gains in the technology sector primarily drove this rally, as market participants interpreted Federal Reserve Chair Jerome Powell's remarks as signaling a cautious but stable approach to monetary policy. Powell refrained from suggesting any imminent risk to a potential December rate cut, keeping investors optimistic.

Key events: Australia - RBA Interest Rate Decision (Nov) USA - US Presidential Election USA - S&P Global Services PMI (Oct) USA - ISM Non-Manufacturing PMI (Oct) USA - ISM Non-Manufacturing Prices (Oct) USA - 10-Year Note Auction As the week kicked off, US markets took a cautious stance, with the S&P 500 ending Monday in the red. Investors are bracing for two major events: the presidential election on Tuesday and the Federal Reserve’s upcoming rate decision.

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Key events: USA - ADP Nonfarm Employment Change (Sep) USA - Crude Oil Inventories The S&P 500 declined on Tuesday as investors moved away from riskier assets due to escalating concerns over a broader Middle East conflict, following Iran's launch of multiple missiles targeting Israel. The Dow Jones Industrial Average dropped 173 points, or 0.4%, while the S&P 500 fell 1% and the NASDAQ Composite slid 1.5%.

Key events: Australia - RBA Interest Rate Decision (Sep) USA - CB Consumer Confidence (Sep) US stocks closed higher on Monday as investors paused near record highs, awaiting further signals from the Federal Reserve. The Dow Jones Industrial Average gained 0.15%, the S&P 500 rose 0.28%, and the NASDAQ Composite, which focuses on tech stocks, increased by 0.14%.

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Key events: USA - Durable Goods Orders (MoM) (Jul) US stocks surged on Friday as Treasury yields dropped following Federal Reserve Chair Jerome Powell's hints at upcoming rate cuts. The S&P 500 increased by 1.1%, resulting in a 1.5% weekly gain. Meanwhile, the Dow Jones Industrial Average jumped by 462 points, or 1.1%, and the NASDAQ Composite rose by 1.5%.

Key events: USA - Average Hourly Earnings (MoM) (Jul) USA - Nonfarm Payrolls (Jul) USA - Unemployment Rate (Jul)  The S&P 500 started August under significant pressure on Thursday as softer economic data rekindled recession concerns. The Dow Jones Industrial Average dropped 669 points or 1.6%, the S&P 500 fell 2.8%, and the NASDAQ Composite decreased 2.8%.