Nasdaq Set for Best Single Day Finish in 5 Months, but Fed Decision Still Lurks
Has the interest rate cut in September stabilized? The labor cost indicators, which are the most important to the Federal Reserve, unexpectedly slowed down.
Wages and salaries for private sector workers (excluding incentive paid occupations) increased by 1.0% in the second quarter, with a year-on-year growth rate dropping from 4.2% in the previous quarter to 4.1%, compared to 4.8% in the same period last year.
Another big impact tonight! The biggest point of interest is how the Federal Reserve will express its position on the interest rate cut in September.
The market is starting to bet on the yield curve returning to normal.
USA's job openings in June recorded higher-than-expected numbers, with both voluntary quits and recruitment dropping significantly.
Analysis indicates that the JOLTS report in June once again clearly demonstrates that the U.S. labor market has not deteriorated as increasingly more pessimists assert. However, financial blog Zerohedge points out that private sector job openings have dropped significantly, falling to levels last seen in late 2018, while government job vacancies are only slightly below historic highs.
Will the European Central Bank cut interest rates as expected in September? Two major data releases this week will provide the first clues.
A series of economic data to be released this week in the eurozone will provide key information for the European Central Bank to determine whether to resume rate cuts in September.
AllianceBernstein Anticipates a Soft Landing Due to Easing Inflation and Moderating Growth
