Highlights
A big Friday ahead for tier-one US macro news including retail sales due at 8:30 am ET followed by industrial production at 9:15 am ET and the University of Michigan's preliminary consumer sentiment index for August at 10 am ET. The Econoday consensus calls for retail sales up 0.5 percent in July with sales ex-autos up 0.3 percent. Industrial production is expected flat with manufacturing up 0.1 percent and capacity utilization steady at 77.6 percent. Consumer sentiment is seen slightly higher but still depressed at 62.1 in August from 61.7 in July.
Lots of interest too in the Trump-Putin summit in Alaska although a readout from that is not seen until late in the day. A joint press conference is not scheduled but seems likely. White House officials appear to be working hard to downplay expectations for dramatic news from the summit that would prompt a repricing of risk.
Markets much more focused on the huge upside surprise on producer prices on Thursday. That prompted investors to downgrade Federal Reserve rate cut expectations as did some hawkish-sounding comments from Fed officials.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.