Because you said you wanted it (unless you were lying to spare my feelings)…I’m back with another look at the financial week ahead. Last week was a busy, if not painful, week for the markets with the threat of a labor strike by rail workers adding to the uncertainty. Markets are allergic to uncertainty.
Last week the CPI, or Consumer Price Index, numbers came out and they were not great. The grocery store prices rose 13.5% from last August which is the most they’ve increased in a one-year span since 1979. Most energy prices fell from their high point earlier in the summer but not electricity which rose for the 6th consecutive month. The stock market took the news hard.
Data need: We can look forward to a bunch of real estate numbers coming out like building permits and home sales. These numbers will give us a better idea of what to expect from the housing market in the coming months. Not only that but rent numbers have an impact on the CPI. So if the housing market is looking bad and rents go up then we can expect inflation to continue to go up.
The biggie: The FOMC or Federal Open Markets committee’s monthly statement along with their Summary of Economic projections. After that the Fed Chair Jay Powell will have a press conference.
Historically September is the worst month for the markets and this September won’t be bucking that trend. Usually going into the holiday season things get better, but this week should give us an idea of what to expect in the coming months…so stay tuned 💸
