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Personal income is expected to rise 0.4%, while consumer spending is forecast to climb 0.7%, driven by stronger services activity. Any upside surprise could push back expectations for rate cuts later this year.
Consumer Sentiment and Housing Data Add to Macro Picture
Consumer confidence readings will add another layer to the outlook. The Conference Board’s Consumer Confidence Index is due Tuesday, while the University of Michigan’s final March Sentiment Index lands Friday. The preliminary Michigan survey showed sentiment fell sharply to 57.9, with short-term inflation expectations rising to 4.9%.
Housing market indicators remain under pressure, with affordability still a key constraint. Tuesday brings the S&P Case-Shiller Home Price Index and new home sales data, while pending home sales follow on Thursday. Earnings from KB Home on Monday could offer insight into buyer demand and pricing trends.
Fed Speeches Could Influence Rate Outlook
Traders will closely monitor remarks from several Fed officials, including New York Fed President John Williams, Richmond’s Tom Barkin, and Atlanta’s Raphael Bostic. With recent inflation data running slightly above target, policymakers’ tone on rates and the balance sheet could impact rate-sensitive sectors and the broader risk outlook.
Retail and Consumer Earnings Take Center Stage
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