Volatility is high today, Friday, with Core PCE (YoY, MoM) released at 7:30 AM EST, a crucial inflation gauge amidst recent hawkish Fed commentary questioning further rate cuts. Several Fed officials speak throughout the day, potentially influencing rate expectations. Next week, Monday brings ISM Manufacturing PMI at 10:00 AM EST, followed by Wednesday's key ADP Employment Change at 8:15 AM EST and ISM Services PMI at 10:00 AM EST, offering vital insights into labor market and economic growth.
Traders should brace for significant market moves around today's PCE data and Fed speeches, given the uncertainty on future rate cuts. Focus on manufacturing and services PMIs next week for broader economic health, and ADP data as a precursor to NFP, impacting rate hike probabilities.
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.