CPI inflation

Key events: UK - Core Retail Sales (MoM) (Jun) Canada - Core Retail Sales (MoM) (May) USA - FOMC Member Williams Speaks USA - FOMC Member Bostic Speaks The S&P 500 slumped for a second consecutive day on Thursday, experiencing wild swings as the early-day rebound in tech faded amid an ongoing rotation out of high-flying megacap tech stocks ahead of Netflix's earnings report.

Key events: UK - GDP (QoQ) (Q1) USA - Core PCE Price Index (YoY) (May) USA - Core PCE Price Index (MoM) (May) USA - Chicago PMI (Jun) The S&P 500 managed a slight gain on Thursday as investors balanced a decline in chipmaker Micron against gains in consumer stocks, just ahead of key inflation data. The Dow Jones Industrial Average increased by 36 points, or 0.1%, the S&P 500 added 0.1%, and the NASDAQ Composite rose by 0.30%.

Key events: Eurozone - Eurogroup Meetings Eurozone - ECB's De Guindos Speak Friday saw a robust rally in the S&P 500, marking its best week since November, driven by upbeat earnings reports from tech giants Microsoft and Alphabet, reigniting investor confidence in the AI-driven tech sector. The Dow Jones Industrial Average climbed 153 points, or 0.40%, while the S&P 500 surged 1%, and the NASDAQ Composite, led by tech stocks, soared 2%. With a gain of 2.7% for the week, the S&P 500 ended a three-week losing streak.

Key events: USA - Core CPI (MoM) (Mar) Canada - BoC Interest Rate Decision USA - Crude Oil Inventories USA - 10-Year Note Auction USA - FOMC Meeting Minutes On Tuesday, US stocks managed to secure a modest gain, although investors faced a tumultuous session characterized by fluctuations between losses and gains. This volatility was spurred by a dip in the tech sector led by Nvidia, casting a shadow ahead of pivotal inflation data scheduled for release the following day.

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Key events: USA - Core CPI (MoM) (Feb) USA - USD CPI (YoY) (Feb) USA - CPI (MoM) (Feb) USA - 10-Year Note Auction On Monday, the Dow Jones Industrial Average experienced a modest gain as investors anticipated forthcoming inflation data, a crucial factor influencing the Federal Reserve's stance on interest rates. The Dow rose by 46 points or 0.1%, while the S&P 500 declined by 0.1%, and the NASDAQ Composite slipped by 0.4%.

Key events:  USA - Core CPI (MoM) (Dec) USA - CPI (MoM) (Dec) USA - CPI (YoY) (Dec) USA - Initial Jobless Claims USA - 30-Year Bond Auction On Wednesday, US stocks saw an upward trend with a boost from mega-cap companies, although gains were tempered in anticipation of forthcoming inflation reports and significant bank earnings later in the week.

Key events: USA - OPEC Monthly Report USA - Crude Oil Inventories The major indices on Wall Street closed the week with substantial gains on Friday, bolstered by prominent technology and growth stocks as Treasury yields stabilized. Investors also looked ahead to next week's reports on inflation and other economic data. The tech-heavy Nasdaq Composite witnessed its most significant one-day percentage increase since May 26, showcasing the strength of the tech sector.

Key events: USA - CB Consumer Confidence (Sep) USA - New Home Sales (Aug) USA - Building Permits On Monday, the S&P 500 experienced a modest increase, boosted by Amazon.com (NASDAQ: AMZN) shares and the energy sector. This uptick coincided with rising Treasury yields, and investors were closely watching economic data and statements from Federal Reserve policymakers later in the week to gain insight into the future of interest rates.

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