The trading period in U.S. markets has been shortened this week due to Presidents Day, giving investors less time to navigate the tight schedule of economic events. The US Federal Reserve Vice Chairman is also expected to provide insight on the country’s monetary policy later this week.
The Kobeissi Letter, a macroeconomics media, shared major economic events in the United States during the week starting February 19th.
economic calendar events
February 19th is Presidents Day, and the New York Stock Exchange (NYSE), NASDAQ, and bond markets are all closed as a federal holiday.
The latest Federal Reserve FOMC meeting minutes will be released on February 21st. With only seven meetings left this year, there is speculation about how the U.S. Federal Reserve (Fed) will approach interest rates. The current base interest rate is 5.5%.
According to Forbes, this could cause short-term interest rates to remain at around 4% until 2024. But most of the cuts could come in the second half of the year. Low interest rates typically coincide with rising stock and cryptocurrency markets.
Read more: 7 Ways to Handle Retirement When Inflation Rises
S&P Global Services Purchasing Managers’ Index (PMI) data will be released on February 22nd. The data is based on a survey of more than 400 executives at private service companies.
Fed Speech and Earnings Season
Meanwhile, five Federal Reserve officials are scheduled to speak this week. One noteworthy speech is that of Philip Jefferson, Vice Chairman of the US Federal Reserve, who will discuss the US economic outlook and monetary policy.
About 15% of S&P 500 companies are expected to announce their earnings this week, drawing speculative attention from investors.
Read more: What is Dollar Cost Averaging (DCA)?
Among these, Nvidia, a leading AI computing company, will announce its performance report on February 21st.
In the cryptocurrency market, numerous investors are closely monitoring the price of Bitcoin, which surpassed $50,000 last week. Expectations are also rising for the overall cryptocurrency market capitalization, which surpassed $2 trillion last week.
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