The news of an “attempted assassination” on Republican presidential nominee Donald Trump has shocked the nation, with the FBI confirming his safety after shots were fired near his Florida golf course. Amidst this chaos, the financial markets have had their best week in 2024, with significant gains in the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average. Meanwhile, China’s economic struggles continue as data reports show lower-than-expected growth in retail sales and industrial production.
Here are the key points you need to know today:
- The S&P 500 rose by 0.54%, the Nasdaq Composite advanced by 0.65%, and the Dow Jones Industrial Average gained 0.72%, marking the best week of the year for these indexes.
- China’s National Bureau of Statistics released data showing a slowdown in economic growth, with retail sales and industrial production missing economist forecasts.
- The controversial de minimis loophole used by retailers Shein and Temu to avoid tariffs may soon be closed by the Biden administration.
- Investors eagerly await the U.S. Federal Reserve’s rate-setting meeting, where a rate cut is anticipated. Speculation surrounds the magnitude of the cut and its potential impact on the financial markets.
As the Fed prepares for its rate decision, the focus shifts to the policy trajectory post-meeting. The first cut, whether by 25 or 50 basis points, will set the tone for future monetary policy. Analysts warn of potential economic implications based on the Fed’s next moves and urge cautious investment strategies amidst uncertain market conditions.
In the unpredictable world of markets, staying informed and adapting to changing circumstances is key to navigating the financial landscape effectively. Stay tuned for more updates on the evolving market trends and policy decisions.
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