Market gains likely despite hurricanes
WEEKLY MARKET COMMENTARY |
Markets look to be poised for another week of gains despite the lingering damage to Florida following Hurricane Irma. Strong earnings statements and solid underlying economic fundamentals continue to shape investor expectations. Economic data this week will present fresh information on a series of first-tier data including retail sales, industrial production, regional manufacturing sentiment surveys, inflation and jobless claims.
The impact of Hurricane Harvey will be on display this week when the jobless claims for the week ending September 9 will almost certainly see another sizeable increase in first-time claims. The U.S. Treasury will issue $24 billion in three-year notes on Monday, Sept. 11, $20 billion in 10-year notes on Tuesday, Sept. 12 and $12 billion in a 30-year bond reopening. International investors will focus on the United Kingdom (UK) inflation report on Tuesday, Sept. 12, euro area and industrial production estimate and UK labor market report on Wednesday, Sept. 13 and the Bank of England monetary report on Thursday, Sept. 14.