PPI Data and Michigan Consumer Sentiment Expected to Influence Markets on Friday

As traders look ahead to a significant day for financial markets, Friday, October 11, 2024, promises an array of essential economic data releases that could impact market dynamics. The Producer Price Index (PPI) will be a focal point, providing insights into inflationary trends at the producer level. Moreover, the University of Michigan’s Consumer Sentiment Index will shed light on consumer confidence, which may affect market sentiment and the broader economic outlook.

Key Economic Events to Monitor

• 8:30 AM ET – PPI (Oct): This key inflation indicator at the producer level is forecasted to register at 0.1%, down from the previous 0.2%.

Other Noteworthy Economic Releases

• 8:30 AM ET – Core PPI (Oct): Excluding food and energy prices, this figure is anticipated to come in at 0.2%, compared to the previous 0.3%.

• 9:45 AM ET – Fed Goolsbee Speaks: Remarks from this Federal Reserve official could provide insights into upcoming monetary policy.

• 10:00 AM ET – Michigan Consumer Expectations (Oct): This measure of consumer outlook is expected to be 75.0, up from the previous 74.4.

• 10:00 AM ET – Michigan Consumer Sentiment (Oct): Gauging overall consumer confidence, this index is projected to reach 70.9, compared to 70.1 previously.

• 12:00 PM ET – WASDE Report: The USDA will release its World Agricultural Supply and Demand Estimates, crucial for understanding movements in agricultural markets.

• 1:00 PM ET – Baker Hughes U.S. Rig Count: This indicator reflects activity in the oil industry, with the previous count being 479.

• 1:00 PM ET – U.S. Baker Hughes Total Rig Count: A broader gauge of drilling activity, previously at 585.

• 1:10 PM ET – FOMC Member Bowman Speaks: Insights from this Federal Reserve representative could provide further clarity on monetary policy.

• 3:30 PM ET – CFTC Speculative Positions Reports: These reports will cover futures market positions for major assets.

Additional Economic Events of Interest

• 8:30 AM ET – Core PPI (YoY) (Oct): The annual change in core producer prices is forecasted at 2.7%, up from the previous 2.4%.

• 8:30 AM ET – PPI (YoY) (Oct): The annual change in producer prices is expected to come in at 1.6%, slightly down from 1.7%.

• 8:30 AM ET – PPI ex. Food/Energy/Trade (MoM) (Oct): The monthly change excluding volatile components is noted at the previous 0.3%.

• 8:30 AM ET – PPI ex. Food/Energy/Trade (YoY) (Oct): The annual change excluding volatile components will be assessed against the previous figure of 3.3%.

• 10:00 AM ET – Michigan 5-Year Inflation Expectations (Oct): This long-term inflation outlook was previously recorded at 3.1%.

• 10:00 AM ET – Michigan Current Conditions (Oct): The assessment of the current economic situation is forecasted at 64.3, up from the prior 63.3.

• 10:00 AM ET – Michigan 1-Year Inflation Expectations (Oct): The short-term inflation outlook previously stood at 2.7%.

• 10:45 AM ET – Fed Logan Speaks: Comments from this Federal Reserve official may provide further economic insights.

• 3:30 PM ET – CFTC Speculative Positions Reports: Additional updates on futures market positions for various commodities will be released.

Stay tuned for the latest updates and analysis on these economic events as they unfold.

This article was generated with the support of AI and reviewed by an editor.