New York Fed President William Dudley Discussed Inflation
In his speech on August 10, New York Fed President William Dudley joined the group of FOMC members to ease concerns about slowing inflation (TIP).
The retail sales report for July was released by the United States Census Bureau on August 15. According to the report, US retail sales were $478.9 billion.
The US inflation report, which was released on August 11, indicated that inflation has risen 1.7% YoY. Slowing inflation has been a concern for the Fed.
The most important indicators for this week will be US retail sales, the UK’s CPI, and US consumer sentiment.
The US Consumer Price Index rose 0.1% in July 2017, compared with no change in June 2017, falling short of the market’s expectations of a 0.20% rise.
The UK Services PMI stood at 53.8 in July 2017, compared with 53.4 in May, beating the market expectation of 53.6.
The Japan Services PMI stood at 52.0 in July 2017, compared with 53.3 in June 2017, missing the market expectation of 53.3.
The Spain Services PMI stood at 57.6 in July, compared with 58.3 in June. The PMI figure didn’t meet the preliminary market estimation of 58.3.
The Eurozone Services PMI remained unchanged in July 2017, coming in at 55.4 but missing the preliminary market estimation.
The July Germany Services PMI stood at 53.1, compared with 54.0 in June 2017, falling short of the preliminary market’s estimation of 53.5.
The July France Services PMI (purchasing managers’ index) stood at 56.0 in July 2017, compared with 56.9 in June 2017, meeting the initial estimate of 55.9.
The July US Services PMI (purchasing managers’ index) report shows a strong improvement in the US business climate.
In this series, we’ll analyze the services PMIs for major developed nations including the US, France, Germany, Spain, the Eurozone, Japan, and the UK.
Wynn Resorts was the S&P 500’s top gainer on Tuesday. Buying was triggered in Wynn Resorts on August 16 due to the release of Deutsche Bank’s report.
The S&P 500 fell lower last week amid geopolitical concerns. However, it started this week on a stronger note by rebounding on Monday.
At 6:35 AM EST on August 16, 2017, the FTSE 100 Index was trading at 7,429.50. The iShares MSCI United Kingdom (EWU) fell 0.33% to $33.5 on August 15.
After gaining for seven consecutive trading weeks, China’s Shanghai Composite Index fell last week. The index started this week on a stronger note.
The S&P 500 fell lower last week amid geopolitical concerns. But it started this week on a stronger note by rebounding on Monday.
Last week, the United Kingdom’s FTSE 100 Index fell in the last three trading days to a three-month low. But the index started this week on a stronger note.
After gaining for seven consecutive trading weeks, China’s Shanghai Composite Index fell last week. But despite weak economic data, the index rebounded on Monday.