Stocks were mixed with little conviction in either direction.
Four economic data points will help shape the narrative when, on Wednesday, July CPI and Core CPI numbers come out.
• Fed presidents and governors repeat mantra that more rate hikes are coming.
• The supply chain snarl in Taiwan may be easing.
• Congress passed a new law addresing climate change and inflation; what does it mean?
Headlines of the Day
S&P 500 gives up earlier gain and falls slightly as Nvidia warning hits tech stocks
Stocks struggled to hold their ground on Monday, following the S&P 500′s third straight weekly gain, as demand concerns for the semiconductor industry weighed on tech names.
Daly Says Fed Is ‘Far From Done Yet’ on Bringing Inflation Down
‘We need to leave our minds open’ for September meeting. Suggests 50 basis points isn’t only option on the table.
US Inflation Peak in Sight But Debate Rages Over What Comes Next
Fed hopes to tame inflation without too much economic pain. Skeptics say it will take a recession to bring prices down.
Ships Resume Taiwan Routes Even as China Continues to Drill
Vessels start to travel through China military exercise zones. New drill near Taiwan signals that risks remain for ships.
Senate Passes Inflation Reduction Act. What’s Inside.
Senate Democrats passed the Inflation Reduction Act of 2022 in a party-line vote after a marathon weekend session.
Economic Data Results for 8-8-2022
Baltic Exchange Dry Index
The Baltic Dry Index (BDI) is an index of average prices paid for the transport of dry bulk materials across more than 20 routes.
Economic Data Due Tomorrow on 8-9-2022
NFIB Business Optimism Index JUL
Consumer Inflation Expectations JUL
IBD/TIPP Economic Optimism AUG
Nonfarm Productivity QoQ Prel Q2
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