“Investors Await Inflation Data and Fed Minutes in Wall Street’s Focus for the Week Ahead”
As Wall Street gears up for another week of trading, investors are honing in on key economic events that could shape market sentiment. With last week’s robust jobs report easing concerns about a potential interest rate cut, all eyes are now on the upcoming inflation data for March and the minutes of the Federal Reserve’s March monetary policy meeting.
The strong addition of 303,000 workers to payrolls in March has shifted the focus towards consumer prices data and the Fed minutes for any hints on the central bank’s rate cut plans for the rest of the year. The release of the consumer price index (CPI) for March and the minutes of the Fed’s March FOMC meeting on April 10 will provide valuable insights into the Fed’s future monetary policy decisions.
Additionally, the producer price index (PPI) data for March on April 11 and the import price index (IPI) data for March on April 12 will offer further indicators of the state of the economy. A preliminary report on consumer sentiment for April will also be released on April 12, adding to the mix of economic data for the week.
In addition to economic events, the first quarter earnings season kicks off with a slew of companies reporting their quarterly results. Companies such as Lotus Technology, Neogen, PriceSmart, Tilray Brands, and Delta Air Lines are among those scheduled to report earnings in the week ahead.
Last week saw US stocks closing higher on the back of the strong jobs report, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all posting gains. The US dollar strengthened against the Japanese yen, while the euro weakened. The yields on the 10-year Treasury and the 2-year Treasury also saw slight increases.
In the commodities market, benchmark US crude oil and Brent crude oil prices rose, while gold and silver prices also saw gains. The overall market sentiment remains positive as investors await further economic data and earnings reports to guide their investment decisions in the week ahead.
