Home Business News US stock market exposed to slew of economic data this week

US stock market exposed to slew of economic data this week

27th Nov 23 3:41 pm

The US stock market started the week with a slight downturn after four consecutive weeks of gains.

Key data ranging from inflation to growth, along with comments and speeches from Federal Reserve members, are expected to shape projections for next year’s monetary policy.

This, in turn, could impact sentiment and appetite for risk as well as the market’s potential to extend gains through year-end.

This week’s Personal Consumption Expenditures (PCE) data, a preferred inflation gauge for the Fed, will clarify the inflation trend.

Meanwhile, GDP data and Purchasing Managers’ Index (PMI) readings will assess the economy’s health and resilience. Federal Reserve Chair Powell and other members may drop hints regarding their monetary policy expectations, which could influence market expectations for a rate cut next year.

Strong Black Friday sales data could be a positive indicator for the retail sector, which has recorded a positive performance this month.

Nvidia retreated from the 500-dollar mark, following three weeks of strong performance. The Chinese market remains a challenge for the company, as it announced a delay in launching its latest artificial intelligence chip in China.

Nvidia is developing new products for the Chinese market to comply with US export restrictions.

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