Stock Market

What will shake the market: US inflation in August and Starbucks day

The US stock market rose ahead of the release of the US August inflation report on Tuesday, and investors appeared to have ignored fears of a recession.

The inflation report is due out about a week before the next Federal Reserve meeting, and many expect it to show that inflation in the country has slowed down, in contrast to the skyrocketing growth in June. Gasoline prices are down nearly 10% since last month, taking the strain off households already struggling with rising food prices.

Analysts will be watching not only the main, but also the underlying, which excludes food and fuel, to see what the month-to-month trend is. The Fed has said it is not going to stop tightening financial conditions until it is satisfied that inflation has slowed in line with its policy.

September is usually a weak month for stock investors, but stocks rose on downside buying and a better economic outlook.

Here are three events that could affect the market through Tuesday:

1. Inflation for August

Read also:  Bearish sentiment key to sustaining rally in 2023

At 08:30 ET (1230 GMT), an important report on the Consumer Price Index (CPI) will be released. Analysts expect it to top 8.1%, lower than July’s 8.5%. On a monthly basis, inflation is expected to fall by 0.1%, while it was flat in the previous month. As for the main CPI, analysts expect this figure to be 0.3% for the month, as in July.

2. Starbucks Day

Starbucks Corporation (NASDAQ:SBUX) will host an investor day Tuesday at 10:30 AM ET (1430 GMT), where the coffee company is expected to reveal its plans to emerge from the pandemic, with a new CEO and growing labor movement throughout the country.

3. Oracle earnings

Oracle (NYSE:ORCL) earnings are another point that will draw attention. The company reported earnings per share of $1.03 on revenue of $11.45 billion. According to the company, the decline in earnings per share was due to foreign exchange rates. Analysts had expected earnings per share of $1.08 on revenue of $11.3 billion.

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x