![]() ![]() Regardless, all three major averages are headed for a losing week. Markets were closed Tuesday, and cut short on Monday, for a total of 3.5 trading sessions. Wall Street is wrapping up a shaky start to the second half of the year, though trading this week was curtailed because of the Fourth of July holiday. "I think we'll get more evidence that the Fed will find themselves being restrictive enough after the July meeting with inflation data that we get next week, and I think that'll be a positive for markets," said Art Hogan, chief market strategist at B. Currently, traders see a 72% likelihood the Fed will hold rates steady at the September meeting. However, "the real question mark" is what will happen at the September policy meeting. Traders are expecting a 92% chance that the Federal Reserve will raise rates by 25 basis points in July, according to the CME Group's FedWatch Tool. ![]() And so, I think the CPI kind of feeds into that." Broadly speaking, investors are pricing in another quarter point rate hike at the July meeting. "You saw the market reaction, that big decline yesterday and then the market coming back a little bit today, just kind of indicates that there's still a lot of discussion about what the interest rate path is going to be, and what the Fed might do. "CPI is a big number," said James Ragan, director of wealth management research at D.A. Market participants are hoping next week's release of the June consumer price index on Wednesday, as well as last month's producer price index on Thursday, will show a downward trajectory in inflation after this week's strong ADP data spurred investor fears of further rate hikes ahead. Investors are turning their attention to inflation data in the week ahead, following this week's hot jobs data, to further clarify the path of future monetary policy. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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