Market Watch Nov 29, 2022
Recent News
Earlier this week, Blockfi announced they were filing for bankruptcy; it was mostly foreseen with their strong connection to FTX.
Much of the pullback in traditional markets this week has been due to concern about supply chain disruptions leading to prolonged inflation. China appears to be returning to a more restrictive lockdown to combat COVID. While in the US there is concern that there is a railroad worker strike that congress is considering passing a bill to force unions to accept an agreement to avoid any shutdowns.
The largest short term impact on Market movement will be Fed Chair, Jerome Powell’s speech at the Brookings Institute. This will be a precursor to the FOMC meeting in a couple of weeks and markets have moved significantly based on Powell’s outlook on how the Federal reserve might continue with interest rate hikes to continue their fight against inflation.
Key Events to watch
Powell speech at Brookings Institute 11/30 1:30pm
Core PCE 12/1
Non Farm Employment 12/2
