QUESTION:
Give me a comprehensive US market update for this week.
RESPONSE:
This week in the U.S. financial markets is marked by significant anticipation and activity, primarily centered around the Federal Reserve’s upcoming meeting and its implications on interest rates. Here’s a comprehensive update:
1. Federal Reserve Meeting:
The Federal Reserve’s meeting this week is highly anticipated, with expectations leaning towards an interest rate cut. This decision is seen as crucial and could potentially influence market directions in the near term.
2. Economic Data Releases:
Key economic data set to be released this week includes August retail sales, which will provide insights into consumer spending and overall economic health. This data is particularly significant as it is the last major release before the Fed announces its decision on interest rates.
Other important data releases include building permits, housing starts, and existing home sales figures, which will further illuminate the state of the U.S. housing market and broader economic conditions.
3. Market Performance:
The stock market has shown resilience with the S&P 500 and Nasdaq Composite recently logging their best week of 2024. This positive momentum comes after a period of volatility where the S&P 500 had briefly fallen nearly 10% below its all-time high.
Wall Street has been experiencing mixed trading sessions as it approaches the Fed meeting, reflecting a cautious optimism among investors.
4. Investor Sentiment and Strategy:
Investors are closely monitoring the Fed’s moves, with the broader market sentiment being cautiously optimistic. The anticipation of rate cuts has kept the markets relatively stable, but the actual decision will be pivotal in determining the future trajectory.
5. Global Influences:
Asian markets have shown mixed responses, partly influenced by downbeat economic data from China. This underscores the interconnected nature of global financial markets and the impact of international economic developments on U.S. markets.
This week is shaping up to be a pivotal one for the U.S. markets, with the Federal Reserve’s decision potentially setting the tone for the remainder of the year. Investors and analysts alike are advised to keep a close watch on the aforementioned economic indicators and central bank communications.
References
[1] Treasury yields little changed as Fed meeting set to kick off [CNBC]
All eyes are on the Federal Reserve this week, with an interest rate cut from the central bank all but guaranteed. https://www.cnbc.com/2024/09/17/us-treasury-yields-as-fed-meeting-set-to-kick-off.html
[2] Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?
WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week:
[3] This is the ‘billion-dollar blind spot’ of 401(k)-to-IRA rollovers, Vanguard finds [CNBC]
That’s because the U.S. Federal Reserve is expected to initiate a round of interest-rate cuts this week. https://www.cnbc.com/2024/09/16/401k-ira-retirement-rollovers-cash-investments.html
[4] Fed Once Again Expected To Make Jumbo Interest Rate Cuts At This Week’s ‘Weighty’ Meeting [Forbes]
Economists at leading U.S. banks are split on what they expect this week. https://www.forbes.com/sites/dereksaul/2024/09/16/fed-once-again-expected-to-make-jumbo-interest-rate-cuts-at-this-weeks-weighty-meeting
[5] It’s The Economy, Stupid [Forbes]
This week, the market is focused on one thing and one thing only, Wednesday’s Federal Reserve Open Market Committee (FOMC) meeting. https://www.forbes.com/sites/jjkinahan/2024/09/16/its-the-economy-stupid
[6] Treasury yields little changed as Fed meeting set to kick off [CNBC]
Before the Fed’s decision, investors on Tuesday will be parsing through August retail sales figures for hints about the state of the consumer. https://www.cnbc.com/2024/09/17/us-treasury-yields-as-fed-meeting-set-to-kick-off.html
[7] Stock market today: Wall Street makes early gains with all eyes on the Fed and an interest rate cut
Apart from the Federal Reserve’s most anticipated meeting in years, which wraps up on Wednesday, traders also were awaiting U.S. retail sales data for August that will provide a glimpse into the mind of the U.S. consumer.
[8] America’s economic engine is still revving, despite fears of a slowdown [CNN]
Tuesday’s report is the final major economic release before the Federal Reserve announces its latest interest-rate move on Wednesday. https://edition.cnn.com/2024/09/17/economy/us-retail-sales-august/index.html
[9] This week: retail sales, unemployment, home sales
The Commerce Department delivers its latest snapshot of U.S. retail sales Tuesday.
[10] U.S. Treasury yields dip as investor focus shifts to Fed meeting [CNBC]
Investors will also be watching out for several economic data releases throughout the week, including August retail sales data on Tuesday, as well as building permit, housing start and existing home sales figures later in the week. https://www.cnbc.com/2024/09/16/us-treasury-yields-as-investor-focus-shifts-to-fed-meeting.html
[11] U.S. Treasury yields dip as investor focus shifts to Fed meeting [CNBC]
Investors will also be watching out for several economic data releases throughout the week, including August retail sales data on Tuesday, as well as building permit, housing start and existing home sales figures later in the week. https://www.cnbc.com/2024/09/16/us-treasury-yields-as-investor-focus-shifts-to-fed-meeting.html
[12] CNBC Daily Open: The real question isn’t the Fed’s first cut, but where it goes after [CNBC]
Best week of 2024 On Friday, the S&P 500 rose 0.54% and the Nasdaq Composite advanced 0.65%, giving both indexes their best week of 2024. https://www.cnbc.com/2024/09/16/cnbc-daily-open-where-does-the-fed-go-after-its-first-cut.html
[13] Forbes Daily: Murdoch Family Feud Will Decide Future Of Fox News [Forbes]
The S&P 500 closed out its best week of the year Friday , fresh off of its worst week of 2024, as the market walks a tightrope. https://www.forbes.com/sites/daniellechemtob/2024/09/16/forbes-daily-murdoch-family-feud-will-decide-future-of-fox-news
[14] AP Top Extended Financial Headlines at 8:27 p.m. EDT
U.S. stocks closed their best week of the year with more gains and climbed to the cusp of their records
[15] Stock market today: Wall Street hangs near records as it counts down to a rate cut
The calm movements for the U.S. stock market overall are a sharp departure from prior weeks, during which the S&P 500 briefly fell nearly 10% below its all-time high.
[16] Stock futures are little changed as investors await major Fed decision: Live updates [CNBC]
After a rough start to a historically weak September, the three major U.S. indexes ended last week’s trading session in the green, with the S&P 500 and tech-heavy Nasdaq Composite just closing their best week of 2024 https://www.cnbc.com/2024/09/15/stock-futures-are-little-changed-as-investors-await-major-fed-decision-live-updates.html
[17] Asia-Pacific markets set to open mixed after China’s downbeat economic data [CNBC]
After a rough start to a historically weak September, the three major U.S. indexes ended last week’s trading session in the green, with the S&P 500 and tech-heavy Nasdaq Composite closing their best week of 2024. https://www.cnbc.com/2024/09/16/asia-pacific-markets-live-stocks-to-slide-after-chinas-economic-data.html
[18] AP Top Financial News at 9:47 a.m. EDT
Wall Street drifts in mixed trading ahead of Fed meeting this week
[19] Stock market today: Wall Street makes early gains with all eyes on the Fed and an interest rate cut
Apart from the Federal Reserve’s most anticipated meeting in years, which wraps up on Wednesday, traders also were awaiting U.S. retail sales data for August that will provide a glimpse into the mind of the U.S. consumer.
[20] Stock market today: Wall Street hangs near records as it counts down to a rate cut
The calm movements for the U.S. stock market overall are a sharp departure from prior weeks, during which the S&P 500 briefly fell nearly 10% below its all-time high.
[21] Treasury yields little changed as Fed meeting set to kick off [CNBC]
All eyes are on the Federal Reserve this week, with an interest rate cut from the central bank all but guaranteed. https://www.cnbc.com/2024/09/17/us-treasury-yields-as-fed-meeting-set-to-kick-off.html
[22] CNBC Daily Open: The real question isn’t the Fed’s first cut, but where it goes after [CNBC]
Best week of 2024 On Friday, the S&P 500 rose 0.54% and the Nasdaq Composite advanced 0.65%, giving both indexes their best week of 2024. https://www.cnbc.com/2024/09/16/cnbc-daily-open-where-does-the-fed-go-after-its-first-cut.html
[23] Stock market today: Wall Street makes early gains with all eyes on the Fed and an interest rate cut
Apart from the Federal Reserve’s most anticipated meeting in years, which wraps up on Wednesday, traders also were awaiting U.S. retail sales data for August that will provide a glimpse into the mind of the U.S. consumer.
[24] Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?
WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week:
[25] It’s The Economy, Stupid [Forbes]
This week, the market is focused on one thing and one thing only, Wednesday’s Federal Reserve Open Market Committee (FOMC) meeting. https://www.forbes.com/sites/jjkinahan/2024/09/16/its-the-economy-stupid
[26] Asia-Pacific markets set to open mixed after China’s downbeat economic data [CNBC]
Asian markets were set to open mixed Monday as investors digested the downbeat economic data from China released over the weekend, while several key markets were closed for holidays. https://www.cnbc.com/2024/09/16/asia-pacific-markets-live-stocks-to-slide-after-chinas-economic-data.html
[27] Asian stocks mixed amid weak China data after Wall Street closes the best week of 2024
HONG KONG (AP) — Asian stocks were mixed on Monday with several key markets closed for a holiday, after U.S. stocks finished their best week of the year and climbed to the cusp of their records.
[28] Asia-Pacific markets set to open mixed after China’s downbeat economic data [CNBC]
After a rough start to a historically weak September, the three major U.S. indexes ended last week’s trading session in the green, with the S&P 500 and tech-heavy Nasdaq Composite closing their best week of 2024. https://www.cnbc.com/2024/09/16/asia-pacific-markets-live-stocks-to-slide-after-chinas-economic-data.html
