Welcome to Extreme Investor Network, where we provide you with valuable insights into the stock market, trading, and all things Wall Street. Today, we’re focusing on key economic events happening this week that could impact the markets and your investments.
In the UK, manufacturing and services PMIs are set to be released, with expectations of improvements in both sectors. This data will be closely watched as concerns about wage growth and services inflation persist. Any surprises in the data could lead to movements in gilts and the GBP, with a potential impact on the Bank of England’s rate decisions.
Over in the US, manufacturing and services PMIs will also be revealed, with slight changes expected in both sectors. Investors will be paying close attention to these numbers, as they could influence expectations around interest rate cuts. Higher-than-expected data could lead to a stronger USD, while softer numbers may increase rate cut expectations and send the USD lower.
Later in the week, the US will release its advance GDP growth rate for Q2 2024, with forecasts indicating an acceleration in economic activity. Any surprises in this data could also impact the USD. Additionally, the US Core PCE Price Index for June will be released, providing insights into inflation levels and further influencing rate decisions.
On the earnings front, we have some major companies reporting this week, including Tesla, Google, Coca-Cola, and IBM. These earnings reports can provide valuable information on the health of the economy and specific industries.
As always, stay tuned to Extreme Investor Network for the latest updates and analysis on the stock market and trading trends. Remember, informed investing is key to success in the world of finance.