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September 8th - The New York Federal Reserve Banks Microeconomic Data Center released its August 2026 Consumer Expectations Survey today. The results show that household inflation expectations have slightly declined in the medium term, while remaining unchanged in the short and long term. Gasoline price growth expectations rose again in August. Labor market expectations are mixed: unemployment and employment expectations have worsened, while unemployment and job loss expectations have improved. Expectations for an increase in the unemployment rate have reached their highest level since April 2020. The survey was conducted from August 3rd to 31st. Regarding inflation, one-year inflation expectations fell from 3.63% to 3.58%, and the median expectation for home price growth fell by 0.2 percentage points to 3.0%, driven by residents in the Northeast. In terms of commodities, one-year gasoline price expectations rose by 1.7 percentage points to 4.6%, food by 0.3 percentage points to 5.3%, and medical care by 0.2 percentage points to 9.1%; college education costs rose by 0.3 percentage points to 6.1%, and rent rose by 0.7 percentage points to 6.6%. Regarding the labor market, the median expectation for one-year income growth rose slightly by 0.1 percentage points to 2.9%. The unemployment rate is expected to rise by an average of 1.6 percentage points to 44.4%, the highest since April 2020, with increases across all age groups, education levels, and income levels.BondBloxx Investment Management stated that the Federal Reserves September interest rate decision was like "flipping a coin."U.S. Treasury Secretary Bessenter: The economy is expected to attract more people back to the labor market.U.S. Secretary of State Marco Rubio concluded his remarks.The EU and Canada plan to reach a broad agreement to strengthen their cooperative relationship.

S&P 500, NASDAQ Futures Higher in Pre-Market after Meta Stuns Wall Street

Alice Wang

Feb 02, 2023 16:08

The main U.S. stock index futures contracts are trading in a range during Thursday's pre-market session, with the Dow trading down for the day while the NASDAQ Composite was up about 1%.


Investors are attempting to build on the rise from yesterday, which was sparked by a mix of a widely anticipated 25-basis-point rate increase and less hawkish comments from Federal Reserve Chairman Jerome Powell. A sharp increase in Meta shares after a positive earnings announcement is contributing to the euphoric mood.


The blue chip Dow futures are now trading at 34085.00, down 63.00 or -0.18%, at 04:33 GMT. The tech-weighted NASDAQ Composite is trading at 12526.75, up 112.50 or +0.91%, while the benchmark S&P 500 Index futures contract is at 4143.50, up 11.25 or +0.27%.

Less-Hawkish, Supported by Wednesday's Positive Session comments made by Fed Chair Powell

The strong performance in all three main indices yesterday is what is providing the support early on Thursday. The NASDAQ Composite ended the regular session up 2%, while the S&P 500 recovered previous losses to conclude with a gain of 1.05%. After losing more than 500 points earlier in the day, the Dow was only able to gain a meager 0.02%.


Investor confidence that inflation is slowing down enough for the central bank to take notice fueled the sharp bounce, despite the fact that Federal Reserve Chairman Jerome Powell made no mention of a potential stop in rate rises at his post-meeting news conference.

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