A claimed open is emerging on US stock markets on Thursday. According to the trade, investors held back in anticipation of a wealth of economic data. Retail sales, import and export prices and industrial production for August, the Empire State Manufacturing Index and the Philadelphia Fed Index for September each, initial jobless claims for the previous week and July data on inventories are published.
Above all, the data from the retail trade and the labor market are considered indicators for the monetary policy course of the US Federal Reserve. The market is currently expecting the Fed to hike interest rates again by 75 basis points next week. According to the latest inflation data, however, some market participants are also expecting one rate hike by 100 basis points. This is priced in with a probability of 25 percent.
Among the individual stocks, Paypal lost 0.7 percent pre-market after the payment service provider’s chief financial officer was furloughed for health reasons after just a month in office.
Meanwhile, it is relieved that a strike by the railway workers was averted after the collective bargaining partners reached an agreement. That should support railroad stocks. CSX shares are up 2.5 percent and Union Pacific up 4.2 percent premarket.
The tariff agreement should also allow the US gas price to recede somewhat. It had risen significantly on Wednesday, supported by the expectation that gas demand would increase due to the loss of coal transport due to the strike.
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(END) Dow Jones Newswires
September 15, 2022 06:28 ET (10:28 GMT)
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