This past week, U.S. equities managed to recover from the hit to investor sentiment posed by the oil price spike, which was the result of the OPEC+ output cut announcement. However, signs that the job market is cooling while the economy remains resilient, infused some optimism towards the end of the holiday-shortened week.
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Apart from external shocks such as the oil cartel’s move, the outlook for stocks now completely hinges on the Federal Reserve’s monetary action steps, which, in turn, are exclusively economic data driven. Thus, each new economic report draws outsized attention and moves the market up or down, according to the outcome versus expectations. That’s why it’s worthwhile for investors to watch closely for the following economic news items, as all of them can prove to be major market movers. For a full listing of all upcoming economic events, check out the TipRanks Economic Calendar.
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» March’s CPI and CPI ex. Food & Energy (Core CPI) – Wednesday, 4/12 – These reports capture last month’s price increases and will indicate whether the U.S. Federal Reserve has been successful so far in its fight against inflation, as it strives not to push the economy into a deep recession.
» March’s Producer Price Inflation (PPI) – Thursday, 4/13 – The report on the producer price increases is a forward indicator of the consumer inflation trend in the next 1-3 months.
» March’s Retail Sales – Friday, 4/14 – The report measuring the total receipts of retail stores, is a leading indicator that gives important information about consumer spending, which has significant impact on the GDP.
