U.S. investors seek comfort in flood of data GlobeInvestor
Wall Street will be watching next week’s economic data with a laser focus after a dismal February jobs report and recessionary warning signals from U.S. Treasury yields.
“Investors are going to be hyper-sensitive to data,” said Jack Ablin, chief investment officer at Cresset Capital Management in Chicago. “The yield curve inversion is the manifestation of investors’ fears that the U.S. is getting caught up in a global slowdown.” February’s U.S. retail sales data, due on Monday, and the March jobs report, scheduled for Friday, may be the most closely watched indicators as economists want reassurance on the spending power and confidence of U.S. consumers, which represent about 70 per cent of the U.S. economy.
But Donald expects a rebound in both retail sales and jobs, since the last reports were weakened by the December-January government shutdown. She will also watch durable goods data, due on Tuesday, for a view on corporate capital spending. Kinahan says U.S.-China tensions could mute market reactions to data “unless it’s so far off to the upside or the downside.” The two countries are due to negotiate in Washington, D.C., next week after what Treasury Secretary Steven Mnuchin said were “constructive” talks in Beijing this week.
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