US Stocks Trim Early Gains as Apple Outlook and Economic Data Weigh on Investors; Bitcoin Stabilizes Within Range After Weekend Gains | Daily Market Analysis
Key events: Australia - RBA Interest Rate Decision (Jun) Australia - RBA Rate Statement UK - Construction PMI (May) Canada - Ivey PMI (May) USA - EIA Short-Term Energy Outlook US stocks edged lower on Monday, trimming early gains, as investors weighed the near-term outlook for Apple while sifting through the economic data and plotting the slope for the Fed's final glide path as we near the end of their aggressive rate hike cycle.
Mixed Stock Market As Investors Await Key CPI Data | Daily Market Analysis
Key events: Australia – Retail Sales (MoM) USA – EIA Short-Term Energy Outlook At the beginning of the week, the stock market was mixed and lacking direction in terms of risk appetite, as investors await the release of key US CPI data and a string of corporate earnings reports later in the week. Dow Jones Industrial Average closed lower amidst range-bound trading as investors awaited further catalysts, including the consumer inflation report that is due later in the week.
US Retail Sales Drop 1% as Fed Predicts More Rate Hikes | Daily Market Analysis
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Powell's Speech To Hint At the Fed's Position on the U.S. Economy | Daily Market Analysis
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Markets Fall Ahead of Central Bank Meetings | Daily Market Analysis
Key events: Australia – Retail Sales (MoM) (Dec) Canada – GDP (MoM) (Nov) USA – CB Consumer Confidence (Jan) New Zealand – Employment Change (QoQ) (Q4) U.S. stocks are steadily declining Monday as last week's momentum wears off ahead of this week's week of important central bank meetings. Another critical Fed meeting is looming, which could prompt some investors to position for a "higher rates for longer" regime as recession fears ease and global growth shows signs of picking up again.
Markets Are Mixed Due to Dissonant Data and Earnings | Daily Market Analysis
Key events: Australia – CPI (QoQ) (Q4) Canada – BoC Monetary Policy Report Canada – BoC Interest Rate Decision USA – Crude Oil Inventories Canada – BOC Press Conference The S&P 500 fluctuated around the 4,000 mark, with no major moves up or down, as investors disagreed on mixed earnings reports and mixed economic data.
Markets Remain Under Pressure Amid the Fed Officials' Speeches | Daily Market Analysis
Key events: Australia – Retail Sales (MoM) (Nov) USA – Crude Oil Inventories Yesterday's speech by Fed chief Jerome Powell at the Stockholm forum gave no hints about the regulator's plans as he did not directly address economic or monetary policy issues. Investors are now waiting for the key event of the week - the release of the U.S. consumer inflation data for December, which the consensus forecast suggests slowed to 6.5% y/y from 7.1% y/y.
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