Highlights
Lots of interest in today's personal income and spending report at 8:30 am ET. The Econoday consensus looks for both overall and core PCE prices up 0.3 percent on the month. That will highlight for investors and policy-makers an ongoing lack of disinflation progress, the sort of thing that suggests rates are on hold and might even be going higher later in the year.
Also in focus: the first reading on Q4 GDP. Expectations call for a 2.8 percent growth rate with personal consumption growth at 2.4 percent.
Meanwhile, investors are obliged to watch closely the US military buildup and threat of an attack on Iran. On Thursday, President Trump said his deadline for a deal with Iran was now 10-15 days and that"really bad things" would happen to Iran otherwise. The Wall Street Journal reported the president prefers a diplomatic solution but is considering a limited first strike on military targets as a way to force Iran to make a deal he would accept, with attacks escalating from there until there is a deal.
Finally, Supreme Court watchers are on alert today for the possibility of a ruling on two key items -- the legality of Trump's Liberation Day tariffs, and second, the legality of the push to finish gutting the Voting Rights Act. The latter would allow Republicans in numerous states to rush to redraw voting maps to pick up many seats in congressional elections already under way. The Court seems to be in no haste to issue its rulings but one can't rule out a very newsy Friday.
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.