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S&P 500 rises as investors look ahead to CPI, retail sales and earnings
Money markets are pricing about a 44% chance of a Fed rate hike in September, with major US data releases including CPI on Wednesday and PPI on Thursday.
LiveMint Markets said Wall Street faces a packed schedule, with investors weighing upcoming inflation and consumer data plus corporate earnings for direction after the latest trading session.
The S&P 500 rose 47.68 points, or 0.6%, to 7,757.64 on Friday. Ahead next week, investors are set to watch the July Consumer Price Index on Wednesday and the Producer Price Index on Thursday, followed by July retail sales data on Friday, and housing data including July existing home sales on Tuesday.
The outlook for the Federal Reserve is also in focus, with US money markets pricing about a 44% probability of a rate hike in September, according to LSEG data. The week includes releases such as weekly jobless claims for the week ended August 8 on Thursday and a University of Michigan preliminary consumer survey for August on Friday.
On the corporate calendar, investors will monitor quarterly results from Applied Materials, Rocket Lab, Archer Aviation, CoreWeave, CAVA, Cisco and Coherent. In bonds, the US Treasury plans auctions totaling $125 billion across the week, including $58 billion of three-year notes on Tuesday and $42 billion of 10-year notes on Wednesday.
Latest closeS&P 500 7,709.96 ▼0.2%