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Sunday, May 19, 2024

Inflation Expected to Decrease as Markets Wait For Incoming Data

Key Takeaways:

  • Inflation Rate (YoY), is projected to show a slight decrease in the inflation rate year-over-year, from 3.5% in the previous month to a consensus estimate of 3.4%.
  • Retail sales data are also important, with the consensus suggesting a slowdown in year-over-year growth from 4% to 3.8%.
  • The NY Empire State Manufacturing Index is expected to improve slightly from -14.3 to -10.8 in May. This reading, while still in negative territory, may suggest a gradual recovery in the manufacturing sector.

Markets Waiting For Data

The U.S. Dollar Index and S&P futures are currently stable on Sunday, April 12, 2024, as investors and traders wait for inflation and retail sales data on Wednesday, April 15, 2024.

S&P Futures Chart
DXY Chart

Inflation and Retail Sales

Among the most anticipated releases is the Inflation Rate (YoY), which is projected to show a slight decrease in the inflation rate year-over-year, from 3.5% in the previous month to a consensus estimate of 3.4%. The core inflation rate (YoY) is also expected to dip slightly from 3.8% to 3.6% year-over-year.

Retail sales data are also important, with the consensus suggesting a slowdown in year-over-year growth from 4% to 3.8%. However, month-over-month retail sales are expected to show a decrease, with a consensus estimate of 0.4% compared to the previous month’s 0.7% growth. Retail sales excluding autos are projected to experience a more significant slowdown, from 1.1% to 0.2% month-over-month.

The NY Empire State Manufacturing Index is expected to improve slightly from -14.3 to -10.8 in May. This reading, while still in negative territory, may suggest a gradual recovery in the manufacturing sector.

The DXY and S&P futures have remained relatively stable, indicating a cautious stance among investors.

Lazarus
Lazarushttps://ljlnews.com
Publisher and editor of LJLNews. I am a Stock Market enthusiast, with an interest for politics. I hope you enjoy reading the articles! Contact me at: Lazaruslucas@ljlnews.com

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