Today, Friday, high-impact Core PCE and GDP data release at 8:30 am, followed by Manufacturing and Services PMI at 9:45 am. These metrics are vital for assessing inflation and growth. Next Friday, Core PPI at 8:30 am will further clarify price pressures. Throughout the week, watch Fed speeches on Tuesday and Wednesday, alongside Thursday's jobless claims, as markets weigh the Fed's next move amid shifting economic resilience and recent political commentary regarding interest rate policy.
Traders should prepare for heightened volatility in $SPY and $QQQ during today's PCE and GDP releases. If inflation data exceeds expectations, expect a hawkish shift in Fed rhetoric. Monitor the $DXY for strength if PMI data confirms economic expansion, potentially pressuring gold and long-term bonds.
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.