Today, US financial markets remain closed due to a public holiday, so there is no trading on Wall Street. Investors will return to activity on Tuesday, but it is already clear that the coming days may bring a significant increase in volatility. Friday's session ended with mixed sentiments, with the market's attention focused primarily on the latest macroeconomic data from the US.
January's inflation reading showed a slower-than-expected pace of price growth, but in the current environment this does not necessarily mean a rapid reversal in monetary policy. On the contrary, lower inflation may give the Federal Reserve the comfort of maintaining a cautious approach and no pressure for rapid interest rate cuts. In addition, a very strong labor market report released earlier in the week confirmed the solid condition of the US economy and reinforced the arguments for restraint in monetary policy easing. Currently, the market is pricing in a maximum of two interest rate cuts this year, which shows that expectations for the scale of cuts are limited.
This week, the focus will be on further important macroeconomic publications. Of particular importance will be Friday's PCE inflation reading, the Federal Reserve's preferred measure of price pressure. On the same day, we will also see preliminary data on economic growth in the fourth quarter. Combined with the ongoing corporate earnings season, this creates a mix of factors that, despite today's trading break, may significantly influence the direction of US indices in the coming days.
US500 (S&P 500) contracts are trading in a narrow range today, hovering around the reference level. The lack of an open cash session and few significant macroeconomic events are causing limited volatility and reduced investor activity. The market remains calm today.
Source: xStation5
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