U.S. stock and bond markets will be closed on September 7 for Labor Day, giving investors a three-day weekend. The New York Stock Exchange, Nasdaq, and U.S. bond markets will resume trading on Tuesday at 9:30 a.m. Eastern Time.
Last week, the market closed lower.
Last week, major U.S. stock indices closed lower. One reason was that August employment data came in stronger than expected, prompting investors to reassess the Fed’s interest rate path for this month.
In the U.S., non-farm payroll employment increased by 162,000 in August, exceeding market expectations, while the unemployment rate remained at 4.1%. Following the data release, market expectations for a 25-basis-point rate hike at the Fed’s September 16 meeting rose to approximately 58%–59%.
This week, focus on inflation data.
Following the employment data, market focus has shifted to inflation indicators. The Producer Price Index (PPI) for September will be released on September 10 in the U.S., followed by the Consumer Price Index (CPI) on September 11.
These two data points will serve as key references for the Federal Reserve in assessing inflation trends and may continue to influence short-term fluctuations in the stock market, bond market, and the U.S. dollar.