Company / Analytics

Analytics, 26 September 2022

What will drive the markets this week?

Last week, global markets underwent a brutal week as central banks across the globe announced aggressive hikes in interest rates with an aim to curb inflation.

In the US, the fed raised interest rates by 75 basis points for the third time this year and released new economic projections showing a significant slowdown in the economy later in 2022 and 2023. All major US indices capped their fifth negative week in six, with each index losing at least 4%. With the exception of the Dow, all indices were trading in the bear market territory. All other major global indices ended the week in losses too.

Investors can expect several key economic updates this week. On Tuesday, the latest reports on the housing market will become available, with the release of August new home sales and the S&P Case-Shiller Home Price Index for July. The Conference Board’s Consumer Confidence Index (CCI) and the University of Michigan’s Consumer Sentiment Index (MCSI) will offer updates on consumer sentiment. On Thursday, the Bureau of Economic Analysis (BEA) will release its final estimate for second-quarter GDP growth. The Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, will arrive on Friday. Nike, Micron Technology, Carnival Corporation, and Bed Bath & Beyond will be among the companies reporting earnings.

Events that are expected to move the markets this week

Monday, September 26

Tuesday, September 27

Wednesday, September 28

Thursday, September 29

Friday, September 30

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