All eyes on Powell as US data rock the market By Investing.com

By Laura Sanchez

Investing.com – The market remains very vigilant, a signal that could be issued today by Jerome Powell, Chairman of the Federal Reserve, at.

Correction this morning.

Here are the five factors investors should consider when making decisions today:

The chairman of the US Federal Reserve, Jerome Powell, is due to appear on Tuesday, as is Neil Kashkari, a member of the Federal Open Market Committee. The market is closely monitoring all data from Fed members in case anyone gives any clue when tapering is starting.

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Boston Federal Reserve Chairman Eric Rosengren said on Monday that another month of strong job gains could meet the central bank’s requirement to start cutting back on monthly asset purchases, Reuters reports.

2. US industry data

The annual US retail sales report was released and was found to be strongly negative, as it registered 15.78% and the previous figure was 18.73%, while it was negative since was -0.4%, down sharply from the last statement of 1.6% and far from the estimate that expected it to reach 0.1%. It was also negative, registering -1.1%, and it is expected to reach 0.3%.

Data was also released, and it turned positive, registering 0.9% more than the expected 0.5%, while it was 6.55%, down from the last statement, where it was reported. were 9.91% at the time.

Markets are not expected to react violently to this data, as past data points to a shift by consumers towards reduced spending on goods and increased spending on services, following the lifting of restrictions and epidemic closures. This is why the market is ready to receive negative data and it will probably not be so shocking for the various markets, the most important of which are the dollar and gold.

Spending may return to its old equilibrium with the development of the delta variable and its increased risk of economic activity, which may lead to reduced demand for services such as travel and entertainment.

It is now at $ 1,791.63 an ounce, up 0.26%.

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3. Business results

The earnings season continues in the United States and Europe. Today, Walmart (NYSE: WMT) and Home Depot (NYSE: HD), among others, are offering their numbers.

4. Correction of cryptocurrency

After the increases of recent days, this morning we are witnessing a correction of the main crypto-currencies. It loses 47,000 and is trading below $ 3,200.

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5. Asian and American titles

There is a negative sign today in the major Asian indices, which are down 0.1%, down 0.9%, and in Hong Kong they are down 1% right now.

As for Wall Street, the market closed its trading Monday at varying levels. The close of the 500 (+ 0.2%) and the Nasdaq (-0.2%) (+ 0.3%) stand out.

6.aggregated data

Among Tuesday’s macroeconomic benchmarks, UK unemployment rates and labor productivity, as well as the region’s quarterly GDP, stand out.

As for the United States, we will know the Redbook Retail Sales Index and the weekly crude reserves of the American Institute.