ChainThink reports: Next week, U.S. macroeconomic focus will center on Fed Chair Walsh’s congressional testimony, U.S. June CPI and PPI data, and speeches by several Fed officials. Markets are watching these events for further clues on interest rate prospects.
Reports indicate that tensions between the U.S. and Iran escalated this week, breaking a fragile ceasefire of approximately three weeks. Rising oil prices have increased inflationary pressures and heightened expectations of tighter monetary policy from the Federal Reserve. Meanwhile, U.S. equities continued their strong performance, with the S&P 500 nearing its all-time high, and both the Nasdaq and S&P 500 posting back-to-back weekly gains.
SK Hynix ADR rose 13% on its first day, setting a new record for the largest IPO by a foreign company on U.S. markets with $26.5 billion raised.
Next week’s schedule shows that U.S. June CPI and core CPI will be released on Tuesday, and Waugh will testify before the House Financial Services Committee;
On Wednesday, the U.S. June PPI and core PPI will be released, Walsh will continue to testify at the Senate Banking Committee hearing, and the Federal Reserve will also publish the Beige Book on economic conditions.
In addition, Waller will speak on Monday, Goolsbee and Williams will make public remarks on Wednesday, and on Thursday, the U.S. initial jobless claims, June retail sales monthly rate, and July Philadelphia Fed manufacturing index will be released; Logan and Jefferson will also deliver speeches on the economy and monetary policy.