FOMC meeting

Key events: Eurozone - CPI (YoY) (Nov) UK - BoE Gov Bailey Speaks Eurozone - ECB's De Guindos Speaks Canada - GDP (YoY) (Q3) Asian markets saw a broad decline on Friday as geopolitical tensions from the Russia-Ukraine war escalated, weighing heavily on risk sentiment. Japan's Nikkei was particularly affected, dropping sharply as the yen surged on stronger-than-expected inflation data, further challenging the market outlook.

Key events: USA - CB Consumer Confidence (Nov) USA - New Home Sales (Oct) USA - FOMC Meeting Minutes On Monday, the Dow Jones Industrial Average soared 440 points, or 1%, to close at a record high of 44,736.57. This milestone marked a strong start to the week, bolstered by President-elect Donald Trump’s announcement of Scott Bessent as the nominee for Treasury Secretary. The S&P 500 and NASDAQ Composite also posted gains of 0.3%, reflecting broad market optimism.

Key events: Switzerland - Employment Level (Q3) Eurozone - ECB's Lane Speaks The Dow Jones Industrial Average has rebounded from a recent lull, continuing its upward momentum into a strong finish for the week. Overall, the DJIA is poised to conclude the week with an approximate gain of 1.8% since Monday's opening, though it remains slightly below last week's peak of around 44,485.

Key events: USA - Core CPI (MoM) (Oct) USA - CPI (MoM) (Oct) USA - CPI (YoY) (Oct) USA - FOMC Member Kashkari Speaks USA - FOMC Member Williams Speaks On Tuesday, the S&P 500 closed lower, taking a pause from its recent upward momentum as surging Treasury yields weighed on the market ahead of key inflation data due Wednesday.

Key events: USA - Core CPI (MoM) (Sep) USA - CPI (YoY) (Sep) USA - CPI (MoM) (Sep) USA - Initial Jobless Claims USA - 30-Year Bond Auction The S&P 500 closed higher on Wednesday as investors continued to analyze signals from the Federal Reserve regarding future interest rate moves, ahead of important inflation data and Tesla’s robotaxi event. The Dow Jones Industrial Average gained 431 points (1%), the S&P 500 rose 0.7%, and the NASDAQ Composite added 0.5%.

Key events: USA - Crude Oil Inventories USA - 10-Year Note Auction USA - FOMC Meeting Minutes The stock market closed on a strong note, with tech stocks driving gains, notably led by Nvidia, as the third-quarter earnings season got underway. The Dow Jones Industrial Average climbed 126 points, or 0.3%, while the S&P 500 saw a rise of 1%, and the NASDAQ Composite surged by 1.4%.

Key events: UK - CPI (YoY) (Aug) Eurozone - CPI (YoY) (Aug) USA - Crude Oil Inventories USA - FOMC Economic Projections USA - FOMC Statement USA - Fed Interest Rate Decision USA - FOMC Press Conference US stocks remained mostly unchanged on Tuesday, despite an upbeat retail sales report that eased concerns about a significant economic downturn ahead of the Federal Reserve's upcoming policy meeting.

Key events: Eurozone - ECB McCaul Speaks USA - Core Retail Sales (MoM) (Aug) USA - Retail Sales (MoM) (Aug) Eurozone - ECB's Elderson Speaks  US stocks traded in mixed territory on Monday as investors awaited this week’s Federal Reserve meeting, where the central bank is expected to begin a cycle of rate cuts.

Key events: UK - Employment Change 3M/3M (MoM) (Jul) UK - Unemployment Rate (Jul) Eurozone - EU Economic Forecasts Canada - BoC Gov Macklem Speaks USA - Fed Vice Chair for Supervision Barr Speaks The S&P 500 rallied on Monday, recovering from its steepest weekly decline since 2023, as investors reacted to Apple's latest AI-powered iPhones and anticipated this week's inflation data.

Key events: USA - Initial Jobless Claims USA - S&P Global US Manufacturing PMI (Aug) USA - S&P Global Services PMI (Aug) USA - Existing Home Sales (Jul) Global stocks took a breather on Wednesday after a prolonged rally brought them close to recent record levels. Investors are now focused on upcoming signals from the Federal Reserve regarding potential interest rate cuts to guide their next steps.