Wall Street Braces for 3 Key U.S. Data Releases as Inflation Stays Above 3%
Updated
Updated · abcnews.com · Sep 26
Wall Street Braces for 3 Key U.S. Data Releases as Inflation Stays Above 3%
3 articles · Updated · abcnews.com · Sep 26
Summary
Tuesday through Friday will bring three closely watched U.S. reports—consumer confidence, August PCE inflation and September employment—that investors hope will clarify how households and workers are coping with higher prices.
August confidence already fell to a seven-month low, and Wednesday’s PCE reading will test whether inflation is easing after staying above 3%, still well above the Federal Reserve’s 2% target.
High gasoline prices are a central pressure point, lifting shipping and other costs after the U.S. war with Iran disrupted global oil supplies since late February.
Friday’s jobs report will show whether one of the economy’s strongest areas is weakening further, with wage growth already slowing as households struggle to keep up with inflation.