From BigGo Finance · BigGo Finance · · 2m
Next Week's Global Outlook: European and US PMI and Inflation Data Intertwine
Flash PMI readings and earnings from Meta and Tesla will test markets as inflation data and Middle East tensions drive oil prices higher.
In brief
Flash PMI readings and earnings from Meta and Tesla will test markets as inflation data and Middle East tensions drive oil prices higher. Flash October PMI data and Meta's earnings could trigger market volatility as inflation data and Middle East tensions push oil prices higher. Originally reported by BigGo Finance.
Global markets brace for critical week
Flash October PMI readings from Europe and the US converge with earnings from Meta and Tesla as inflation data and Middle East tensions drive oil prices higher.
US inflation data hotter than expected
US September CPI rose 3.7% year-over-year, above the 3.6% consensus, with core CPI at 2.6% year-over-year, exceeding the 2.5% expected.
US PPI surges unexpectedly
US producer price index surged 1.3% month-over-month in September, the largest single-month increase since March 2022 and far above the 0.6% expected.
Market pricing for Fed rate hike
Markets assign only a 15% probability to a 25-basis-point Fed rate hike at October 28 meeting, but fully price in a December rate hike.
Meta earnings season pressure
Meta's stock fell following April, June quarter earnings, with concerns about AI overinvestment heating up once again.
Oil prices surge due to Middle East tensions
WTI crude surged more than 10% for the week as oil flows through the Strait of Hormuz dropped significantly.
UK inflation data shapes rate expectations
UK's September CPI will shape expectations for a November rate hike, with markets assigning a 93% probability for a 25-basis-point Bank of England rate hike.
Japan's CPI may trigger December rate hike
Japan's September nationwide CPI could provide the basis for a December rate hike if data comes in stronger than expected.
Geopolitical risks impact oil prices
US President Trump suggested possible strikes on Iranian nuclear facilities to prevent Iran from obtaining nuclear weapons.
Precious metals under pressure
COMEX gold futures fell 0.75% for the week to $4,159.50 per ounce as market pricing remains unchanged.
Central banks assess inflation impact
European Central Bank President Christine Lagarde noted elevated eurozone inflation driven by high energy prices has not yet had a full impact on the broader economy.
Market volatility expected next week
Flash PMI data and tech earnings could trigger significant volatility as inflation data and Middle East tensions drive oil prices higher.
Here's the gist
Flash October PMI data and Meta's earnings could trigger market volatility as inflation data and Middle East tensions push oil prices higher.
