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A preview of important economic and market events, as well as upcoming macroeconomic data releases in India and across the world for the coming week.
The weekly Jobless Claims might be the highlight on Thursday. Early cues from the U.S. Futures Index suggest that Wall Street might open broadly down. Asian shares finished positive, while European shares are trading higher.
The latest Eurozone PMI Services data brings both a glimmer of optimism and a note of caution to an economic region. The finalized PMI Services for September stood at 48.7, marking an increment from August's 47.9. Composite index also saw a marginal uplift to 47.2 from the previous month's 46.7. While the numbers reflect an uptick, the fragility of the recovery becomes apparent when examining the country-specific data and underlying factors.
Dollar softens broadly today, as it seems traders are exercising caution, pivoting their focus towards forthcoming heavy-weight economic data releases from the US in the second half of the week. The greenback's pull back also extends following much weaker than expected ADP private job data. Interestingly, this "bad news is good news" effect is also reflected in the positive turn of DOW futures, suggesting a potential stabilization in the stock markets following yesterday's steep decline. Concurrently, 10-year yield is also witnessing a retracement from its peak.
Surrounded by family, Lloyd Lee South, 89, of Fairfax Station, VA passed away on September 24, 2023 at INOVA Fairfax Hospital from injuries resulting from an automobile accident.