Newscasts - Business Lookahead: Cancel summer?

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12/07/2024 23:21

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_prjljgsu&referenceId=tag:reuters.com,2024:newsml_RW845212072024RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: From rising expectations in the U.S. of a September rate cut, to
King Charles unveiling Britain’s new legislative agenda, these are the
stories to watch in business and finance in the coming week. Angela Johnston
reports.
Short Link: https://refini.tv/4bF1asI

Video Transcript:

From rising expectations in the US of a September rate cut, to King Charles
unveiling Britain’s new legislative agenda, these are the stories to
watch in business and finance in the coming week. It’s a busy week in the
US, where signs of a softening economy and cooling inflation have been
boosting expectations, the Federal Reserve will cut interest rates in
September. Fed Chief Jerome Powell speaks in Washington on Monday. And retail
sales data out on Tuesday could offer clues on whether slowing growth is
reflected in the consumer sector. Earnings results from Goldman Sachs, Bank of
America, and Morgan Stanley are also on deck. The European Central Bank is all
but certain to keep rates steady on Thursday, a month after its first rate cut
in five years. What policymakers say about further cuts will be in the
spotlight. China’s third plenum kicks off on Monday. It’s a seminal
event typically held every five years. Reforms could include the most
significant overhaul of the fiscal system in three decades, with the aim to
shift income from Beijing to cash-strapped regional governments. There will
also be a parade of top-tier data on GDP, retail sales, and industrial output.
King Charles will lay out the legislative agenda of the new government led by
British Prime Minister Keir Starmer on Wednesday. But investors will likely be
watching inflation data coming out the same day. Headline inflation eased to
the Bank of England’s 2% target in May, but policymakers are watching
services prices, which have been rising nearly 6% in annual terms