Minutes of the Fed’s latest meeting confirmed the central bank’s message of “long-term interest rate hikes,” but recent mostly soft economic data released after the meeting added some question marks over the length of the period of higher rates. It is being Investors now expect the Fed to maintain more or less hawkish rhetoric, which is interpreted as an attempt to keep market sentiment in check to prevent excessive monetary easing.
With no market-moving earnings announcements scheduled this week, investors will focus on a number of important economic reports scheduled to be released in the coming days. The primary focus will be on PCE data, which helps investors understand the continuing impact of Fed rate hikes.
Here are three economic events that could impact your portfolio this week. Check out the TipRanks Economic Calendar for a complete list of all upcoming economic events.
» GDP growth rate for Q3 2023 (annual rate) (Second Estimates) – Wednesday, November 29 – This report released by the U.S. Bureau of Economic Analysis provides an initial update on the health of the U.S. economy over the past quarter, incorporating new data obtained since the release of the first estimates. Provides updated information on estimates. . Economic growth in the third quarter is expected to be even faster than previously expected, with analysts expecting 5% annualized growth (initially expected 4.9%).
» October Core Personal Consumption Expenditures (Core PCE) – Thursday, 11/30 – This report published by the U.S. Bureau of Economic Analysis reflects the average amount consumers spend each month, excluding seasonal items such as food and energy. FOMC policymakers use the annual Core PCE Price Index as their primary measure of inflation. Analysts expect core PCE to slow further from September, mimicking the disinflationary trend seen in CPI reports.
» October ISM Manufacturing PMI – Friday 12/01 – This report released by the Conference Board shows the economic performance of the U.S. manufacturing sector. This is an important indicator of the overall economic situation. The PMI is considered one of the most reliable leading indicators for assessing the state of the U.S. economy, helping analysts and economists accurately predict changes in economic trends. In contrast to other economic sectors, manufacturing has continued to decline for 11 months. It is expected to enter further contraction territory in October.