Markets await August PCE, Q2 GDP and Fed; Boeing, Robinhood in focus
Ahead of August PCE inflation (annual ~3.7%), the final Q2 GDP reading and comments from at least four Fed officials including Minneapolis Fed President Neel Kashkari, markets are roughly evenly split on another October rate hike. Premarket movers: Boeing up ~2.9% after a $20 billion U.S. Navy next-generation fighter development contract; Northrop Grumman down >4%; Robinhood up ~2.3% after announcing weekend round-the-clock trading. Reuters Tonight points to Micron Technology earnings as a key driver for the AI/memory-chip trade.
7%, followed by the final reading on Q2 GDP and remarks from at least four Fed officials, including Minneapolis Fed President Neel Kashkari. Markets are now roughly evenly split on another October rate hike. S. 3% after announcing weekend round-the-clock trading.
PCE inflation, Treasury yields, Fed commentary and Micron's outlook are the main factors to watch today.