This week features critical economic data and a pivotal Fed decision. Wednesday brings ADP Employment and GDP at 12:15 PM/12:30 PM EST, followed by the Fed Interest Rate Decision and FOMC Press Conference at 6:00 PM/6:30 PM EST. Markets widely expect the Fed to hold rates amidst resilient labor markets and sticky inflation, with June CPI at 2.7% and May Core PCE at 2.7%. Thursday sees key Core PCE inflation data at 12:30 PM EST. Friday concludes with the highly anticipated Nonfarm Payrolls and Average Hourly Earnings at 12:30 PM EST, plus ISM Manufacturing PMI at 2:00 PM EST.
Traders should brace for significant volatility, especially around Wednesday's Fed announcements, as any deviation from a rate hold could spark sharp market reactions. Friday's jobs report is crucial for rate outlooks, given recent slowing wage growth. Monitor inflation metrics closely for further Fed policy cues.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.