Wall Street in New York is looking forward to key data on consumer confidence and inflation in the coming week, as reported by AP News.
On Tuesday, the business group The Conference Board will release its consumer confidence index. Analysts expect the index to decline again in August after a drop in July. Consumer confidence has been weak throughout the year due to persistently high inflation.
The U.S. war with Iran has constrained global oil supplies, further fueling inflation. This has led to higher gasoline prices, squeezing household budgets, and has also increased shipping costs for many goods, from groceries to clothing.
On Wednesday, the U.S. will release its report on personal consumption expenditures (PCE) for July. This is the Federal Reserve's key measure of inflation. Like the consumer price index, PCE has shown that the inflation rate remains stubbornly above 3%.
The Fed is striving to bring inflation down to its 2% target. In early 2025, the rate approached the target, but the imposition of global tariffs by the U.S. caused inflation to rise again. In early 2026, the Iran war curtailed oil shipments through the Strait of Hormuz, significantly accelerating inflation.
The Fed is expected to keep its benchmark interest rate unchanged at its September meeting.