Federal Reserve’s Meeting Minutes

Investors are keenly awaiting the release of the minutes from the Federal Reserve’s July meeting on Wednesday. These minutes will provide insights into the central bank’s discussions about interest rates in the near future. The Fed recently raised rates and hinted at the possibility of another increase in September. The minutes will help us understand whether more rate hikes are likely or if there might be a pause.

U.S. Economic Updates

We’ll be getting some important economic data from the U.S. this week. On Tuesday, we’ll see how much people have been spending as July retail sales data is released. We’re also looking at how the manufacturing sector is doing, with reports on manufacturing indexes coming out. There’s some good news expected in the housing sector, with reports on building permits and housing starts. Additionally, we’ll be getting the weekly report on jobless claims, which gives us an idea of how the job market is doing.

Retail Earnings Season

Companies in the S&P 500 have been sharing their earnings reports, and this week it’s all about the big retailers. Home Depot will let us know how they’ve been doing, followed by Target and Walmart. These reports are important because they tell us how much people are spending, which is a big deal for the U.S. economy. Also, we want to hear about how inflation is affecting these companies’ profits.

Chinese Economy Check

We’ll be watching China closely as they release data about their economy. China’s recovery from the pandemic has been a bit shaky lately. The data on retail sales, industrial production, and investment will give us an idea of how things are going. The numbers are expected to show some improvement, but not too much. There’s concern about how China’s economy is doing, especially since consumer prices went down recently.

Oil Price Movement

Oil prices have been going up for a while now, and we want to know why. The International Energy Agency predicted that the demand for oil hit a record high in June and might go even higher this month. This is good news for countries that produce oil. Also, Saudi Arabia and Russia are making less oil, which means there might not be as much supply. All of this can make oil prices rise. However, some experts are saying that the momentum might slow down soon. Still Saudi Arabia stocks higher at close of trade; Tadawul All Share up +1.0% at the close on Sunday.

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