Today, Fed Chair Powell speaks at 8:30 AM EST, keenly watched for policy cues amidst an ongoing government shutdown delaying key economic data. Initial jobless claims are also due. Tomorrow, Michigan Consumer Sentiment and inflation expectations are critical at 9:00 AM EST, given recent sentiment lows. Next Wednesday, October 15, CPI data at 8:30 AM EST will be pivotal for rate outlook, followed by Retail Sales and PPI next Thursday, October 16, at 8:30 AM EST. The Fed is widely expected to cut rates later this month due to labor market weakness.
Traders should brace for volatility around Powell's comments and upcoming inflation/retail sales data, especially with delayed jobs reports creating uncertainty. Focus on inflation metrics and consumer sentiment for clues on the Fed's dovish stance, as rate cuts are highly anticipated.
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.