๐ Key Events This Week:
1. July S&P Global Services PMI data - Monday
2. July ISM Non-Manufacturing PMI data - Tuesday
3. 10-Year Note Auction - Wednesday
4. Initial Jobless Claims data - Thursday
5. Total of 5 Fed speaker events this week
6. ~20% of S&P 500 companies report earnings
๐ธNo major news this week.
- Stock futures climbed early Monday even as investors remained on edge over the Trump administrationโs new round of tariffs, heightening worries about rising inflation and an economic slowdown.
-Stocks are coming off a volatile trading week that saw each of the three major U.S. indexes end with significant losses, halting weeks of mostly positive moves for the broader market.
- Fridayโs sell-off was driven by a worse-than-expected July jobs report and jitters about President Donald Trumpโs new modified tariff rates.
-President Donald Trump wants lower interest rates. Achieving that objective will require overcoming bigger obstacles than Fed Chair Jerome Powell.
- There are structural forces that drive the cost of borrowing, and right now theyโre pointing up. Governments and businesses are piling on debt to pay for tax cuts, military spending, and AI investments โ which means more demand for credit.