US GDP and PCE Data in Focus for the Week Ahead

Welcome to Extreme Investor Network, where we bring you the latest insights and updates on the Stock Market, trading, and everything Wall Street-related. Our Research Team is always on the lookout for key indicators and market movements that could impact your investment decisions.

This week, we are closely monitoring the 2-year and 10-year UST yields, the US Dollar Index, and energy markets, specifically oil and gold. These are crucial factors that can give us valuable insights into the direction of the market.

In terms of upcoming events, the US GDP Advance estimate on Thursday and the PCE Price Index on Friday are the headline data releases to watch out for. Additionally, durable goods orders, New Home Sales, and Pending Home Sales data from the US will provide further insights into the economy.

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For global markets, April’s S&P Global PMIs for Europe, the UK, and the US will be released on Tuesday. Keep an eye on CPI inflation data from Australia on Wednesday, as well as the Bank of Japan rate announcement on Friday.

On the earnings front, big tech companies like Tesla (TSLA), Microsoft (MSFT), Meta (META), and Google (GOOG) will be reporting earnings this week. With major US equity markets experiencing some downside pressure recently, it will be interesting to see how these earnings reports impact market sentiment.

In particular, the US GDP data for Q1 2024 is expected to show a slowdown in economic growth. However, there is a possibility for an upside surprise, as the Atlanta GDPNow model suggests a higher growth rate than market expectations. A positive GDP surprise could strengthen the USD and influence rate market dynamics.

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The PCE Price Index data is also crucial, with expectations for a slight increase in both headline and core measures. Year-on-year, we anticipate a rise in headline PCE data and a slight slowdown in the Core measure.

Stay tuned to Extreme Investor Network for more updates and analysis on the Stock Market and trading landscape. Our expert insights aim to help you make informed investment decisions in today’s dynamic market environment.

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