Stock market investors on Wall Street in the week ahead will be watching the Federal Reserve’s preferred inflation gauge — the Personal Consumption Expenditures (PCE) index and speeches from a host of Fed speakers including Chair Jerome Powell.
The week will also see data on durable goods orders and consumer confidence.
Last week, the US central bank kept its interest rates unchanged and also signaled three rate cuts in the year ahead.
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Economic events
On March 26 (Tuesday), data on durable goods orders for February and consumer confidence for March will be released.
Data on fourth quarter GDP (gross domestic product) – 2nd revision is slated to be released on March 28 (Thursday). The Chicago Business Barometer (PMI) for March and the pending home sales data for February will also be released on the sane day.
March 29 (Friday) will see the release of advanced US trade balance in goods data for February, the PCE index for February and a speech by Fed Chair Jerome Powell at a San Francisco Fed conference.
Earnings
Following companies are due to report quarterly earnings in the week ahead— Westport Fuel Systems, McCormick, GameStop, Paychex, Carnival, Jefferies, H.B. Fuller, Walgreens Boots Alliance, Oxford Industries, and Torrid.
US markets last week
On Friday, the Dow Jones Industrial Average fell 305.47 points, or 0.77 per cent, to 39,475.90, the S&P 500 lost 7.35 points, or 0.14 per cent, to 5,234.18 and the Nasdaq Composite gained 26.98 points, or 0.16 per cent, to 16,428.82.
For the week, the S&P 500 gained 2.3 per cent, the Dow climbed 2 per cent, and the Nasdaq rose 2.9 per cent.
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The US dollar slipped to 151.46 yen from 151.69 Japanese yen. The euro fell to $1.0804 from $1.0862.
The yield on the 10-year Treasury fell to 4.20 per cent on Friday from 4.27 per cent.
US crude oil benchmark for May delivery fell 44 cents to $80.63 per barrel on Friday. Brent crude for May delivery lost 35 cents to $85.43 per barrel.
Gold for April delivery dropped $24.70 to $2,160 per ounce. Silver for May delivery shed 16 cents to $24.84 per ounce.
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Published: 24 Mar 2024, 10:36 PM IST