Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Manufacturing and services PMI, durable goods orders, Bullard: 3 things to watch

Published 03/23/2023, 03:39 PM
Updated 03/23/2023, 03:46 PM
© Reuters.

© Reuters.

By Liz Moyer

Investing.com -- Stocks lost steam in the afternoon on Thursday, erasing an earlier 400-point Dow rally as investors interpreted the Federal Reserve’s signals that they might be close to ending their interest rate hikes.

The market was struggling to regain ground after a sharp sell-off on Wednesday after the Fed raised rates by the expected quarter of a percentage point.

The economic forecasts by the Fed policymakers have the terminal rate rising to 5.1%, which is lower than recent expectations and the same as their forecast in December. Based on the current benchmark range, that forecast would imply one more rate hike this year.

The Fed has other things to consider, including the still-tight labor market. New jobless claims fell last week and were lower than expected. Next week will come the next big reading on inflation, but before that investors will get the latest reading on manufacturing and services.

Here are three things that could affect markets tomorrow:

1. Manufacturing and services

The readings on manufacturing PMI for March come out at 9:45 ET (13:45 GMT), and analysts expect a reading of 47, which would be down from the 47.4 reported for the prior month. Services PMI comes out at the same time. Analysts are expecting a reading of 50.5, which would be a tick lower than the 50.6 reported earlier.

2. Durable goods

Data on durable goods orders comes out at 8:30 ET. Analysts expect a rise of 0.6% versus a contraction of 4.5% the prior month.

3. Bullard speaks

St. Louis Fed President James Bullard is scheduled to speak at 9:30 ET at a meeting of Greater St. Louis Inc.

Latest comments

Firstly is how much you want to start with and note is 4 times of your investment you invest in a minimum amount and earn 4 times of your investment ones you invest you are to send me some of your information that will be used to create your trading account
Bullard is not a voter in 2023.
I already invest on the date of 23 of this month $200..I didn't receive my profit..
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.