The Latest Breaking News from US Federal Reserve

September S&P 500 E-Mini futures (ESU24) are up +0.11%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.10% this morning as market participants awaited an earnings report from semiconductor stalwart Nvidia as well as the release of the Fed’s preferred inflation gauge later in the week.

The Fed sees inflation moving toward its 2% target; a key inflation report on Friday might help support that stand. Nvidia reports its Q2 on Wednesday.

The ASX200 has climbed 0.8 per cent as the local currency neared 68 US cents after Fed chairman Jerome Powell declared "the time had come" for US rate cuts.

Most Asian equities rose with the yen on Monday after US Federal Reserve boss Jerome Powell said "the time has come" to start cutting interest rates, lining up the central bank for a move as soon as next month.

According to Freddie Mac's latest forecast, home prices will rise 2.1% in 2024 and 0.6% in 2025.

The S&P 500 ($SPX) (SPY) had a strong finish to the week finishing 1.15% higher on Friday which was good for a 1.45% weekly gain.

Recent concerns about the unwinding of yen carry trades and its potential impact on financial markets have proven less disruptive than anticipated. Despite other countries raising interest rates to combat post-pandemic inflation, Japan has kept borrowing costs low to address its long-term economic stagnation. Although the Bank of Japan (BoJ)…

The Wall Street research director updates thoughts about the Fed, the economy and the presidential election.

The Federal Reserve is widely expected to start cutting rates in September after 11 rises in 16 months