The Pulse Global Economic Summary - September 24, 2024

The U.S. Federal Reserve is cautiously optimistic about inflation trends and is considering potential interest rate cuts if current conditions persist. While some policymakers push for a rate cut by year-end, others advocate for patience, urging the need for more data on inflation and employment trends. The balance between inflation control and labor market concerns remains critical for Chair Jerome Powell and his team (Reuters).

The stock market's S&P 500 and Dow Jones Industrial Average reached new all-time highs on September 24, 2024. The S&P 500 closed at 5,718.57, rising by 0.28%, and the Dow also set a record. This market optimism is fueled by positive economic data and investor confidence bolstered by the Federal Reserve’s likely easing of interest rates. Despite this optimism, some concerns linger about long-term growth prospects (ShareCafe).

Meanwhile, oil prices surged nearly 2% before stabilizing. This rise was driven by China’s announcement of its most extensive stimulus package since the early pandemic, boosting hopes for increased demand. West Texas Intermediate (WTI) crude traded above $71 per barrel, and Brent crude hovered around $75. However, volatility remains due to ongoing geopolitical tensions, potential supply disruptions from the Middle East conflict, and Hurricane Helen's approach toward Florida (AOL.com, Odessa American).

For further details, see Reuters, ShareCafe, and Odessa American.

Sources: https://www.reuters.com/graphics/USA-ECONOMY/FED/lgpdwawwzvo/,https://www.sharecafe.com.au/2024/09/24/record-close-for-sp-500-and-dow-jones-amid-positive-economic-sentiment/, https://www.oaoa.com/local-news/daily-oil-price-september-24-2024/, https://www.aol.com/oil-jumps-nearly-2-traders-164350265.html?guccounter=1&guce_referrer=aHR0cHM6Ly9jaGF0Z3B0LmNvbS8&guce_referrer_sig=AQAAAMWqvsuFXNIEipkXh_qWh3SFMsAekVuQ4oduGYHVUTNRVzIByD_-1MuKyPUk3DZnwxu8NZwAN8xpeKxG9XrJS_80PLBDoTi1tphkh9dN3ByBm8-irgV8Bk0iyLSuFX2Y85E3qI-_C_3kASEWcJX2K2aT2JxEkpDyCvn3QyYjHdXQ

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