Wall Street is awaiting key inflation data this week.
Wall Street investors had been looking for signs that the size of future rate hikes might be smaller as inflation cools off, Fed Chair Jerome Powell last week reiterated that he is"strongly committed" to bringing down inflation.scheduled to be released Tuesday. The report is one of the last pieces of data on inflation the Fed will see ahead of its September meeting. Retail sales and industrial production reports will be released Thursday.
"With the expectation for another 0.3% increase in the core rate for August, if the number is higher this will be a negative for stocks and bonds. If the report is less, it will be a catalyst for a market rally," David Donabedian, chief investment officer of CIBC Private Wealth U.S. "Retail sales is also expected to be flat for the month of August, as it was for the prior month.
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