At-a-Glance
Today’s Top Highlights
This Report was written early in the day due to travel schedules
In terms of economic data, there were a ton of critical reports released this week looking at inflation as we head into the Fed meeting next week, where it is expected that there will be a 25-basis point interest rate cut. There was little data released for the U.S. today, but we did have a better than expected CPI and a PPI number that was significantly worse than expected. For the week, the S&P and Nasdaq saw some chop back and forth but were both able to carve out a new all time high price to wrap the week.
The precious metals were able to finish the week on a positive note trading higher today, and that marks 3 consecutive weeks where Gold and Silver have reached a higher high and a higher low price, continuing the momentum moving higher. Bitcoin futures, Ether, XRP and Solana all also were able to finish the week higher, but Bitcoin futures still need more of a spark to send prices back towards all time highs. Next week we will hear from Powell and the Fed on where the rate cuts are coming which can inject more volatility into these markets trading at critical levels.
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