Wall Street Eyes Freezing U.S. Consumer Sentiment, Upcoming FOMC Minutes

Here is a look at Wall Street for this week.

On the 18th, the July import and export price indices will be released, followed by the release of the July FOMC minutes on the 19th.

Following that, Walmart will report its earnings on the 20th.

Last weekend, the three major U.S. stock indices all closed slightly lower amid a decline in consumer sentiment.

U.S. consumer sentiment showed signs of rapidly freezing last week.

According to the Department of Commerce, retail sales in July fell 0.6% from the previous month, marking the largest decline in one year and two months.

The preliminary reading of the University of Michigan consumer sentiment index for August also dropped 7.6% from the previous month to 51.0, falling short of expectations.

Amid prolonged high inflation, a K-shaped consumer polarization has become pronounced, with purchasing power weakening primarily among low-income households.

As signs of a slowdown in consumption deepen, the market is leaning toward the possibility that the Federal Reserve will freeze its benchmark interest rate in September.

However, anxieties remain that inflation has not been completely subdued, making the key focal point how much of a hawkish sentiment will be spread in the minutes to be released on the 19th.

This week, along with whether the ceasefire between the U.S. and Iran will be extended, the earnings reports of major large retailers such as Home Depot and Walmart are expected to determine the direction of the stock market.
※ Please note: This article was translated by AI and may contain errors.