Stocks steady as weak US retail sales trim odds of a September Fed hike to 29%
AI Market Summary
Weak US retail sales and a sharp drop in consumer sentiment lowered implied odds of a September Fed hike (to 29% from 35%), supporting US equities despite softer growth signals. Inflation data remain a cross-current: core PPI cooled, but longer-end yields rose as breakevens and deficit concerns persist. Overnight strength in Korea's tech heavy Kospi added marginal support to global risk sentiment.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT-0.29%
AI Insight · NCSISP5002USD/USDTAI Insight
● Neutral
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US retail sales and consumer sentiment came in weaker than expected, pushing the market-implied probability of a September Federal Reserve rate hike down to 29% from 35%. US equities found support, with the S&P 500 nearly flat and the Nasdaq 100 up 0.15%. The 10-year Treasury yield rose 1 basis point, while July core PPI slowed to 4.1% year over year from 4.7%. South Korea’s Kospi rose more than 2% overnight, with Samsung Electronics and SK Hynix up more than 15% this week, adding a tailwind for tech shares.
