Wall Street week ahead: Reports on consumer confidence and inflation on tap
Wall Street is set to receive crucial information next week regarding consumer confidence and inflation. The Conference Board will release its annual consumer confidence report on Tuesday, with analysts predicting a decline in U.S. economic confidence in August, following a similar drop in July. This decline is attributed to high inflation rates and the ongoing U.S.-Iran conflict, which has disrupted oil supplies and increased costs for various goods.
Additionally, on Wednesday, the Federal Reserve will release its report on personal consumption expenditures (PCE) for July. This report, considered the Fed's preferred inflation indicator, has consistently indicated inflation remaining well above the central bank's 2% target rate. In early 2025, inflation began to rise again as the Iran war limited global oil shipments through the Strait of Hormuz.
The Fed is currently debating whether to maintain its interest rate steady during the September meeting, as inflation has started to climb once more.
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