Five Things You Need to Know to Start Your Day
US data, peak inflation and the risk of blackouts.
US jobs openings and a consumer confidence gauge both topped forecasts, pointing to strength in household and labor demand. All eyes are now on how much the Fed chooses to hike in September. Given Powell stated at Jackson Hole that this will depend on the "totality of data," the level of scrutiny on economic releases will be very high, and the potential for market volatility elevated. The Conference Board’s August index of sentiment rose to a three-month high, and the report also showed firmer buying plans for appliances and cars. Job vacancies, meanwhile, unexpectedly increased to 11.2 million in July.