Two economic reports are due from the U.S. next week: the advance estimate of third-quarter GDP and September PCE.
According to the BEA calendar, GDP is scheduled for October 29. PCE is also due that week.
Both reports are drawing a lot of attention because U.S. stocks were hit by rising inflation expectations last week. On October 22, the Nasdaq fell 2.6% and the Philadelphia Semiconductor Index dropped 6.72%, as tensions in the Middle East pushed oil prices higher and markets worried that inflation could return.
If core PCE rises by more than 0.3% month over month, the odds of no rate cut in November will increase significantly. High-valuation tech stocks could take another hit.
If PCE comes down and the impact of oil prices proves temporary, this pullback may have been just a shakeout.
The key report to watch next week is PCE. GDP reflects activity from July through September, while PCE gives us a real-time read on inflation in September.
Markets are currently betting on a rate cut. We’ll find out on Thursday evening whether that bet is right. #美国下周将公布q3gdp和9月pce $BZ
According to the BEA calendar, GDP is scheduled for October 29. PCE is also due that week.
Both reports are drawing a lot of attention because U.S. stocks were hit by rising inflation expectations last week. On October 22, the Nasdaq fell 2.6% and the Philadelphia Semiconductor Index dropped 6.72%, as tensions in the Middle East pushed oil prices higher and markets worried that inflation could return.
If core PCE rises by more than 0.3% month over month, the odds of no rate cut in November will increase significantly. High-valuation tech stocks could take another hit.
If PCE comes down and the impact of oil prices proves temporary, this pullback may have been just a shakeout.
The key report to watch next week is PCE. GDP reflects activity from July through September, while PCE gives us a real-time read on inflation in September.
Markets are currently betting on a rate cut. We’ll find out on Thursday evening whether that bet is right. #美国下周将公布q3gdp和9月pce $BZ