Mid-Week Wrap: 15 May 2024
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Market Mood
Prepare for crucial US inflation data amidst a growing sense of optimism about inflation control, marked by central banks hinting at rate cuts during recent meetings. Although recent data suggests a slowing US economy, driven by a robust job market, concerns persist about potential inflation surges. Economists anticipate a decline in core inflation, yet unexpected upward surprises could have significant repercussions. The core US markets experienced a calm week leading up to the data release, with the S&P 500 Index poised just below its March peak. The market's reaction hinges on whether the inflation figures meet or fall below expectations.