DJIA Futures: <\/b>-131 (-0.4%)<\/p>\n
SPX Futures: <\/b>-19 (-0.5%)<\/span><\/p>\n NASDAQ Futures: <\/b>-37 (-0.3%)<\/span><\/p>\n Good morning friends!<\/span><\/p>\n Futures are tumbling as the U.S. dollar continues to surge.<\/span><\/p>\n Let\u2019s get right to it!<\/span><\/p>\n The major indexes are all set to slide further at the open as the U.S. dollar continues to surge higher.<\/span><\/p>\n The British pound plunged to a record low against the dollar overnight following the U.K. government\u2019s announcement of new tax cuts last week.\u00a0<\/span><\/p>\n It hit an all-time low of $1.0382 but has since recovered some of those losses.\u00a0<\/span><\/p>\n The euro also hit the lowest level against the dollar since 2002.\u00a0<\/span><\/p>\n Morgan Stanley\u2019s chief U.S. equity strategist said in a note, \u201cSuch U.S. dollar strength has historically led to some kind of financial\/economic crisis. If there was ever a time to be on the lookout for something to break, this would be it.\u201d<\/span><\/p>\n Traders are watching the <\/span>S&P 500<\/b> for any break below its low close for the year of 3,666.77.<\/span><\/p>\n The <\/span>Dow Jones <\/b>is expected to officially fall into a bear market today after closing just above that threshold Friday.\u00a0<\/span><\/p>\n Atlanta Fed President Raphael Bostic expressed optimism about the bank\u2019s battle against inflation in a \u201cFace the Nation\u201d interview Sunday.\u00a0<\/span><\/p>\n While he admitted the Fed\u2019s efforts will likely cause job losses, he said, \u201cthere is a really good chance that if we have job losses it will be smaller than what we\u2019ve seen in other situations.\u201d<\/span><\/p>\n Bostic said he sees \u201cpositive momentum\u201d in the U.S. economy.<\/span><\/p>\n \u201cWe\u2019re still creating lots of jobs on a monthly basis. And so I actually think that there is some ability for the economy to absorb our actions,\u201d he said.\u00a0<\/span><\/p>\n Bostic is among several Fed officials speaking at public events today.\u00a0<\/span><\/p>\n The Boston Fed President, Dallas Fed President, and Cleveland Fed President are all scheduled for speeches throughout the day as well.\u00a0<\/span><\/p>\n Fed Chair Jerome Powell speaks at events on both Tuesday and Wednesday.<\/span><\/p>\n More Fed officials will speak at events throughout the week.<\/span><\/p>\n Oil prices are falling as the strength of the dollar weighs on the market.<\/span><\/p>\n West Texas Intermediate crude futures are down 0.7% to $78 bbl while Brent crude futures are down 0.9% to $85 bbl.\u00a0<\/span><\/p>\n The recent drop in oil prices has been caused by the strength of the dollar, triggering fresh fears of a recession.\u00a0<\/span><\/p>\n Commodities are dollar-denominated assets, meaning they are more susceptible to large swings caused by the movement of the dollar.\u00a0<\/span><\/p>\n Traders will get more data on the U.S. housing market this week, as buyer activity has slowed sharply due to surging mortgage rates.\u00a0<\/span><\/p>\n The latest home price index will be out tomorrow morning followed by August new home sales tomorrow as well.\u00a0<\/span><\/p>\n On Wednesday, the National Association of Realtors reports pending home sales for August.\u00a0<\/span><\/p>\n The housing market has ground to a halt in recent weeks as average 30-year mortgage rates topped 6% for the first time since 2008.\u00a0<\/span><\/p>\n This week also includes some key economic data for traders.\u00a0<\/span><\/p>\n The Commerce Department releases its second revision of Q2 GDP on Thursday morning.\u00a0<\/span><\/p>\n Then the Bureau of Economic Analysis releases the August Personal Consumption Expenditures (PCE) Price Index on Friday.\u00a0<\/span><\/p>\n The Core PCE Price Index is the Fed\u2019s preferred measure of inflation.\u00a0<\/span><\/p>\n Economists expect that index to show core prices rose 0.5% monthly and 4.7% annually in August, up from 0.1% and 4.6% in July,\u00a0<\/span><\/p>\n Inflation has been holding steady and even pushing higher despite the Fed\u2019s three 0.75% rate hikes in a row. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":" DJIA Futures: -131 (-0.4%) SPX Futures: -19 (-0.5%) NASDAQ Futures: -37 (-0.3%) Good morning friends! Futures are tumbling as the U.S. dollar continues to surge. Let\u2019s get right to it! Dollar Surges Higher The major indexes are all set to slide further at the open as the U.S. dollar continues to surge higher. The British pound plunged to a record low against the dollar overnight following the U.K. government\u2019s announcement of new tax cuts last week.\u00a0 It hit an all-time low of $1.0382 but has since recovered some of those losses.\u00a0 The euro also hit the lowest level against the dollar since 2002.\u00a0 Morgan Stanley\u2019s chief U.S. equity strategist said in a note, \u201cSuch U.S. dollar strength has historically led to some kind of financial\/economic crisis. If there was ever a time to be on the lookout for something to break, this would be it.\u201d Traders are watching the S&P 500 for any break below its low close for the year of 3,666.77. The Dow Jones is expected to officially fall into a bear market today after closing just above that threshold Friday.\u00a0 Bostic Says the Fed Can Lower Inflation Without Killing the Economy Atlanta Fed President Raphael Bostic expressed optimism about the bank\u2019s battle against inflation in a \u201cFace the Nation\u201d interview Sunday.\u00a0 While he admitted the Fed\u2019s efforts will likely cause job losses, he said, \u201cthere is a really good chance that if we have job losses it will be smaller than what we\u2019ve seen in other situations.\u201d Bostic said he sees \u201cpositive momentum\u201d in the U.S. economy. \u201cWe\u2019re still creating lots of jobs on a monthly basis. And so I actually think that there is some ability for the economy to absorb our actions,\u201d he said.\u00a0 Bostic is among several Fed officials speaking at public events today.\u00a0 The Boston Fed President, Dallas Fed President, and Cleveland Fed President are all scheduled for speeches throughout the day as well.\u00a0 Fed Chair Jerome Powell speaks at events on both Tuesday and Wednesday. More Fed officials will speak at events throughout the week. Surging Dollar Beats Down Oil Oil prices are falling as the strength of the dollar weighs on the market. West Texas Intermediate crude futures are down 0.7% to $78 bbl while Brent crude futures are down 0.9% to $85 bbl.\u00a0 The recent drop in oil prices has been caused by the strength of the dollar, triggering fresh fears of a recession.\u00a0 Commodities are dollar-denominated assets, meaning they are more susceptible to large swings caused by the movement of the dollar.\u00a0 Housing Data Ahead This Week Traders will get more data on the U.S. housing market this week, as buyer activity has slowed sharply due to surging mortgage rates.\u00a0 The latest home price index will be out tomorrow morning followed by August new home sales tomorrow as well.\u00a0 On Wednesday, the National Association of Realtors reports pending home sales for August.\u00a0 The housing market has ground to a halt in recent weeks as average 30-year mortgage rates topped 6% for the first time since 2008.\u00a0 GDP, Inflation Data On Deck This week also includes some key economic data for traders.\u00a0 The Commerce Department releases its second revision of Q2 GDP on Thursday morning.\u00a0 Then the Bureau of Economic Analysis releases the August Personal Consumption Expenditures (PCE) Price Index on Friday.\u00a0 The Core PCE Price Index is the Fed\u2019s preferred measure of inflation.\u00a0 Economists expect that index to show core prices rose 0.5% monthly and 4.7% annually in August, up from 0.1% and 4.6% in July,\u00a0 Inflation has been holding steady and even pushing higher despite the Fed\u2019s three 0.75% rate hikes in a row.<\/p>\n","protected":false},"author":41,"featured_media":64003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-64002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=64002"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64002\/revisions"}],"predecessor-version":[{"id":64011,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/64002\/revisions\/64011"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/64003"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=64002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=64002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=64002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Dollar Surges Higher<\/span><\/h2>\n
Bostic Says the Fed Can Lower Inflation Without Killing the Economy<\/span><\/h2>\n
Surging Dollar Beats Down Oil<\/span><\/h2>\n
Housing Data Ahead This Week<\/span><\/h2>\n
GDP, Inflation Data On Deck<\/span><\/h2>\n