The wealth of data and a FOMC meeting will keep investors busy this week.
This will be a big week for new data and information for investors to digest. The most important will be consumer confidence on Tuesday, the FOMC meeting ending on Wednesday, and the personal income and spending data due out on Friday. The consumer confidence index released by the Conference Board is expected to pull back from the huge increase reported for June when it surged from 91 to 98.1. A small decline to 95.7 is expected even as the survey took place before the recent surge in new virus cases in the last two weeks. There is a close correlation between this data and subsequent changes in consumer final demand. A small pull back in the survey would indicate a leveling of personal consumption expenditures in the coming months.
PROBANK AUSTIN ADVISOR - JULY 27, 2020