What’s Ahead? (E45)

Consumer inflation is trending in the right direction, and home sales have ticked higher, reaching a remarkable record high, showcasing the resilience and ongoing recovery of the housing market. The U.S. economy grew by 3% in the second quarter, indicating strong performance amid global uncertainties. Here is what you need to be on the lookout for this week: Jerome Powell will speak today at 10:55 AM; listeners should tune in carefully, as he might divulge crucial information regarding the potential next rate cut, which could impact various financial markets. Here is the essential data to monitor this week: JOLTS, jobless claims, and the unemployment rate, all of which will provide insight into the labor market’s health and overall economic stability. The SPY looks like it has substantial support to bounce off the 569 level, positioning it well for future gains. Additionally, Bitcoin has surged back to 63k, signaling renewed confidence in cryptocurrency markets, while there appears to be a shift in the housing market landscape, with many individuals keenly looking to jump in before the anticipated rate cut relief, making this a pivotal moment for both buyers and investors.