Stock Market Update Monday August 12, 2024
- AlgoTradeAlert
- Aug 12, 2024
- 2 min read
Stock Market Update Monday August 12, 2024 The financial markets may be dominated by the geopolitical landscape due to escalating tensions with Iran, which pose a significant risk to market sentiment. The potential for an imminent attack from Iran has prompted a heightened sense of caution among investors, with equities poised to enter a 'risk-off' phase if an attack materializes.
On the macroeconomic front, all eyes will be on the upcoming release of the July Core CPI report, scheduled for Wednesday, August 12, at 08:30 AM Eastern Time. The consensus forecast anticipates a modest month-over-month increase of 0.19%. This follows a series of subdued inflation readings in the preceding months. A July CPI outcome in line with expectations would further reinforce the narrative of cooling inflation. A benign inflation print this week could serve as a pivotal fundamental catalyst, bolstering the case for the Fed to contemplate a rate-cutting cycle. Furthermore, we believe that the Fed may be on the cusp of transitioning from its rigid 'data dependence' approach to a more 'forward-looking' stance. Our team of professional traders do not predict markets we prepare for the next move.
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