Wall Street Awaits Consumer Confidence and Inflation Data Next Week
Investors will watch Tuesday's Conference Board confidence report and Wednesday's July PCE inflation numbers, both expected to show continued weakness.
Wall Street is set to receive two pivotal economic releases early next week. Tuesday brings the Conference Board's consumer confidence survey, which analysts expect to reveal another drop in sentiment for August following a July decline. The following day, the July personal consumption expenditures (PCE) report will be issued, serving as the Federal Reserve’s favored inflation metric and likely showing rates still above 3%.
Elevated inflation has been fueled by rising gasoline prices and higher shipping costs, consequences of the Iran conflict disrupting oil flow through the Strait of Hormuz. These data points come as the Federal Reserve is expected to maintain its benchmark interest rate at the upcoming September policy meeting. Market participants will gauge whether the economy’s slowdown is deepening and how it may influence future monetary decisions.
Why it matters
The reports will shape investor expectations and inform the Fed’s next policy move amid persistent inflation.
In this story
