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Analytics, 20 June 2022

What will drive the markets this week?

The S&P 500 and the Nasdaq Composite bounced on Friday as Wall Street attempted to bounce back following a brutal week of selling. The Federal Reserve raised its benchmark interest rate by 75 basis points, the most since 1994, leading most global stocks into a downtrend.

Next week will be a shortened trading week as markets close for the Juneteenth holiday in the U.S. on Monday. Fed Chair Jerome Powell will testify before Congress on Wednesday and Thursday, as part of a semiannual testimony on monetary policy.

We can expect important updates on the U.S. housing market, including new and existing home sales tracking in the month of May. The June flash estimate of S&P Global’s Composite PMI Survey, along with the final reading of the University of Michigan’s Consumer Sentiment Index (MSCI), will be released on Thursday and Friday, respectively.

International updates on key economic indicators are also expected, with inflation updates for the U.K. and Japan, and consumer confidence readings for the U.K. and Eurozone.

Monday, June 20

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Wednesday, June 22

Thursday, June 23

Friday, June 24

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