Home Business News Inflation data and earnings season set to influence investor sentiment

Inflation data and earnings season set to influence investor sentiment

10th Jan 24 1:06 pm

US stock futures recorded some volatility amid ongoing market uncertainty while traders continue to focus on tomorrow’s inflation data.

The latter could affect expectations regarding the next steps in monetary policy while anticipations of an interest rate cut in March continue to subside. Recent labor market data points to robust economic conditions, while Fed officials see little likelihood of a rate cut before mid-year.

Additionally, markets are gearing up for the earnings season starting Friday, with banking companies leading the way. Investors could react strongly to the figures which could help the market return to its uptrend if they come up better-than-expected.

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Most sectors ended in the red yesterday, with the energy sector leading the most losses, continuing its decline from last year. The sector could continue to see negative performances if oil prices continue to slide. At the same time, increasing geopolitical tensions could remain a source of risks.

Cryptocurrency industry stocks experienced declines following a false announcement posted to the US Securities and Exchange Commission’s X account with Coinbase losing 4.66%. Hewlett Packard Enterprise’s stock dropped close to 9% yesterday after investor skepticism over its $13 billion acquisition of Juniper Networks.

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