What will move the market on October 18-22?
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
American stock futures revive ahead of data
On Friday, Wall Street futures pointed to a higher start because shares looked set to revive from the previous session’s dip in tech stocks with Nike’s better-than-expected revenues backing stocks and traders looking for economic data out later in the day.
The blue-chip Dow futures acquired 0.23%, the S&P 500 futures leapt 0.25%, the tech-heavy Nasdaq 100 futures soared 0.41%.
On Friday, Nike acquired more than 6% in pre-market trade because the world’s number one footwear maker beat consensus on both the top as well as bottom line, having released earnings following the previous session’s close.
Later in the session market participants will assess American data, including the core PCE price index, the Fed’s favorite inflation gauge in addition to personal income & spending for May.
Financial markets remained quite skeptical that the American major bank would follow through on its predication to lift rates once more in 2017, placing their odds of a December hike at approximately 45%.
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Latest news
Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Will the UK and US Cope with Inflation?
Every week we expect many interesting events that can shake the market.
