The week brings a first look at 3rd quarter gross domestic product. The report will be published Friday at 8:30 a.m.
The release has a greater than normal potential for market impact.. The 1st quarter’s growth was 2.2% and 2nd quarter’s, 4.2%.
That’s a rapid growth rate, and as the markets begin to falter in the face of the Federal Reserve’s raising of interest rates, both the Fed and traders will give these numbers an eagle-eyed scrutiny for signs of a looming recession.
Of greatest importance for interest rates: The implicit price deflator metric within the GDP report. The FOMC gives greater credence to this measure of inflation rather than the headline-generating consumer price index, and it will be a factor the committee considers in setting the target federal funds interest rate.
For the trader, life is a game. The questions we spend on our days, and sometimes nights, worrying about are these: What sort of game is it? What are the rules? What is my goal, besides “Make money”?
Sinek divides games into two varieties, the finite — with fixed rules and goals, like football — and the infinite — where the rules change and the goalposts move, like — well, like trading.
The book carries its discussion of games off the playing field and into the enterprise, and since trading itself is an enterprise, it’s insights apply to the games of the markets as well.
More about the book
Otherwise, it’s a savory stew of indicators: Durable goods orders, a measure of buyer confidence to commit funds for a long-term asset, and international trade in goods, important as a diagnostic of the impact of the Trump administration’s aggressive tariff policies. Each will be published on Thursday at 8:30 a.m.
There will be one housing report: New home sales, the smaller part of the market, will be released on Wednesday at 10 a.m.
The Fed’s Beige Book will be published on Wednesday at 2 p.m. It provides a narrative of economic conditions in each federal reserve bank region.
Fed Vice Chairman Richard Clarida will address London’s Peterson Institute for International Economics on Thursday at 12:15 p.m. New York time. It is his first public event as vice chairman, and it will be streamed here.
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