US CPI, China downgrade, Delta earnings - what's moving markets
Investing.com -- The release of the latest iteration of U.S. consumer prices will be the key event Wednesday, while investors will have to digest Fitch's downgrade of its outlook of China's credit rating. Delta also starts the new quarterly earnings season.The economic event of the week is fast approaching, with the latest reading of U.S. consumer prices due later in the session.
A solid March CPI number will likely have markets pricing out a June cut, pushing back the expected start of the rate-cutting cycle to July.is expected to rise to 3.4% from 3.2% in February, but the data is also expected to show a slight cooling inThis was the Fed gathering that confirmed the central bank’s projection of 75 basis points of rate cuts this year, and traders will be looking to see the extent of the discussion surrounding this view.U.S.
Fitch downgraded the country’s credit rating outlook to “Negative” from “Stable,” although it still affirmed China’s rating at A+. The Chinese government recently forecast its economy would grow 5% this year, but Fitch expects gross domestic product growth to fall to 4.5% in 2024 from 5.2% in 2023.) kicks off the airline reporting season later in the session, and with the carrier having recently reaffirmed its first-quarter estimates, it’s what it says about the current quarter that analysts are looking forward to.
“Those are the keys to more stable earnings power, which in turn fund the balance sheet cleanup that is necessary for equity values to appreciate.”
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