Will the Fed Make an Emergency Rate Cut? 14 August 2024
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Market Mood
This week’s economic calendar features key events including the release of U.S. CPI data. Although markets are currently expecting rate cuts later this year, focus is increasingly shifting towards labor market indicators and high-frequency data such as retail sales and industrial production. Globally, economic growth will be examined with the upcoming Q2 GDP data from the UK, Eurozone, and Japan, which are expected to show improvement, consistent with recent PMI figures. Additionally, China's industrial production figures will be a focal point following PMI data indicating a slower manufacturing sector. In corporate news, Walmart and Alibaba are set to release earnings this Thursday. Walmart is predicted to exceed expectations and potentially raise its full-year guidance due to its broad consumer appeal, whereas Alibaba may report a 10% drop in adjusted EBITDA as it increases spending to attract international customers.