US futures were slightly down today, following yesterday’s small decline, amidst uncertainty over this week’s inflation data and its influence on monetary policy forecasts. Today’s focus could turn to consumer confidence data alongside speeches from Federal Reserve officials.
Meanwhile, major US indices recorded a strong performance this month thanks to a risk-on sentiment, with market participants expecting a rate cut in the second quarter of next year.
This week’s key focus remains the Personal Consumption Expenditures (PCE) data while investors adopt a cautious stance ahead of its release.
Markets are priced for a soft landing, banking on sustained consumer spending, which has shown resilience so far. investors are keenly observing consumer spending data, which has already surpassed expectations with record-breaking
Thanksgiving and Black Friday sales. Cyber Monday and this week’s sales will further define online shopping trends in the U.S., influencing market sentiment and stock market performance through year-end.
Investor interest in online shopping-related stocks spiked during Cyber Monday. Notably, “buy now, pay later” stock Affirm surged nearly 12% while Shopify rose almost 5%, reflecting the higher-than-expected holiday season online sales.