Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Economy and Credit Markets Ended Sept. 9, 2022
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 

The European Central Bank raised interest rates from 0% to 0.75% last week in an attempt to curb inflation. A rate increase that large is rare for the ECB and the most it has ever raised interest rates in a single hike. Eurozone inflation is higher than in the US, increasing 9.1% in August as energy prices are surging in the eurozone amid the war in Ukraine. On Thursday, Fed Chairman Jerome Powell reiterated the Fed’s commitment to curb inflation in the US, setting the stage for another 0.75% rate hike later this month. Shorter-term yields climbed on his remarks. St. Louis Fed President James Bullard also said last week that Wall Street is underestimating a scenario in which interest rates have to stay higher for longer to bring inflation back to 2%. The market expects rate cuts beginning in the middle of next year. The next reading of the Consumer Price Index will be released Tuesday. Economic data released last week showed the ISM Services Index beat expectations in August and that economic activity in the services sector continues to expand. Major economic reports (related consensus forecasts, prior data) for the upcoming week include Tuesday: August CPI MoM (-0.1%, 0.0%), August CPI YoY (8.0%, 8.5%); Wednesday: September 9 MBA Mortgage Applications (N/A, -0.8%), August PPI Final Demand MoM (-0.1%, -0.5%); Thursday: September 10 Initial Jobless Claims (225k, 222k), August Retail Sales Advance MoM (0.0%, 0.0%), August Industrial Production MoM (0.1%, 0.6%), September Empire Manufacturing (-15.0,-31.3); Friday: September Preliminary U. of Mich. Sentiment (59.8, 58.2).

Posted on Monday, September 12, 2022 @ 8:18 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
A Snapshot Of Homebuilder-Related Stocks
A Snapshot Of Bond Yields
US Stock Markets Ended Sept. 2, 2022
US Economy and Credit Markets Ended Sept. 2, 2022
A Snapshot Of The S&P 500 Index Earnings Beat Rate
A Snapshot Of The U.S. Dollar
US Stock Markets Ended August 26, 2022
US Economy and Credit Markets Ended August 26, 2022
Technology Has Been The “Gold Standard” For Decades
A Global Snapshot Of Equity Returns Spanning The COVID-19 Pandemic
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2023 All rights reserved.