Look ahead: US producer prices; retail sales; Adobe; Dollar General
US producer prices and retail sales in focus after the warmer than expected inflation reading. Watch out for US initial jobless claims too after Friday’s solid jobs report.
Adobe is expected to report a 10.5% rise in quarterly revenue. Dollar General reports Q4 results.
(AI Video Summary)
US economic data expected and S&P 500 analysis
In this video, Angeline Ong talks about the different economic indicators and market trends happening on Thursday, 14 March. She focuses on some important things like producer price numbers, retail sales, initial jobless claims, and business inventories. She also analyses the S&P 500 chart and mentions a potential breakout point at 5188.77. She points out that if the volumes confirm the breakout, the index could reach the 5200.00 level. She explains that the S&P 500 is still moving in an upward trend channel.
Rate cut odds
Traders believe there's a 66% chance of a rate cut, but after the stronger than expected US CPI reading, bets are cooling on a rate cut in June. Mark Heffernan, the Chief Investment Officer at UBS Global Wealth Management, says that the US economy is doing well and is heading for a soft landing.
Company results expected
As for company results, Vistry, Savills, and Moonpig Group will be releasing their numbers in the UK, while Adobe's and Dollar General will do so in the US. It's interesting to note that Adobe's chart shows the 50-day moving average crossing above the 100-day moving average, which could indicate a potential trend change. Unfortunately, Adobe couldn't proceed with its deal to buy cloud-based designer platform Figma due to regulatory issues related to AI.
In terms of earnings, Adobe is expected to report a 10.5% increase in revenues to just over $5 billion.
So, for someone with little trading experience, it's important to keep an eye on these economic indicators and market trends to make informed decisions.
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