Ukraine’s president Volodymyr Zelenskyy said in an evening address to the nation that “the absolute majority” of missiles fired “were shot down”. Russia unleashed a missile barrage across Ukraine yesterday as it switched the focus of its attacks from Black Sea ports to inland targets, including an air base. Separately, jobless claims were forecast to have risen slightly to 235,000 in the week ended July 22.ġ. More data: The durable goods report from the Census Bureau will contain details expected to show that underlying investment spending by businesses edged lower in June. See our Week Ahead newsletter for the full list. Packaged food producer Mondelez will report after the market closes. More earnings: Aerospace and defence contractor Northrop Grumman, payments processor Mastercard, pharmaceutical company Bristol-Myers Squib, confectioner Hershey, cruise line Royal Caribbean, industrials group Honeywell, carrier Southwest Airlines and motorcycle manufacturer Harley-Davidson report before the opening bell. Ford recently deepened a price war with Tesla against a backdrop of overall electric vehicle sales gaining momentum in the US. Analysts expect McDonald’s to report a nearly 10 per cent increase in revenue to $6.3bn and earnings of $2.80 a share.įord: The automaker should update investors on how its new vision is progressing, as it seeks to cut costs in the near term and position itself for a mostly electrified future. McDonald’s: Investors will be focusing on commentary about consumer demand in an environment of lingering, elevated inflation when the fast-food chain reports this morning. GDP: The US economy is forecast to have expanded at an annualised rate of 1.8 per cent in the second quarter, according to a Refinitiv poll, a slight slowing from the 2 per cent pace in the first three months of the year. There’s a lot happening today, here is some of the big stuff: Just as new data suggests high rates have pushed business loans in the region to the lowest level on record. By the time they meet in September, that is likely to be evident in both inflation and the growth.”Īround the world: The European central bank is also expected to raise rates by a quarter of a percentage point today to 3.75 per cent. “We see enough signs of inflation moderating. “We think that the Fed is done raising rates,” said Bob Michele, chief investment officer at JPMorgan Asset Management. Some analysts had more positive outlooks. We’re going to be making careful assessments . . . meeting by meeting.” He added: “It’s possible that we would choose to hold steady at that meeting. Much of the markets had factored in a rate increase this month, but while stocks and bonds dipped slightly in yesterday’s trading they were largely unaffected.Īt a press conference after announcing the increase, Fed chair Jay Powell would not say if more interest rate increases were planned, stating “I would say it is certainly possible that we would raise funds again at the September meeting if the data warranted”. The US Federal Reserve has raised its benchmark interest rate by a quarter of a percentage point to a new range of 5.25 to 5.5, leaving open the possibility of more increases later in the year.
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