Pending the publication on Wednesday of the latest inflation figures for the United States, the markets will have to make do with a few statistics from the Labor Department. In Europe, Continental will publish its quarterly accounts.
Some statistics across the Atlantic on the eve of a decisive day
Like yesterday, nothing transcendent is on the program for this Tuesday. Anyway, the stock market is only waiting for one thing: the publication, on Wednesday, in the United States, of the consumer price index for the month of July. They will allow investors to see more clearly on the Fed’s next monetary policy decisions.
Productivity and labor costs on the agenda
In the meantime, this Tuesday, the Department of Labor will unveil the final figure for non-agricultural productivity in the second quarter which had experienced, over the first three months of the year, its strongest decline since 1947. The Bloomberg consensus anticipates a further decline of 4.6% (from one quarter to another) over the period from April to June. The evolution of unit labor cost will also be carefully analyzed. The index, which measures the annualized change in labor costs paid by companies, could signal inflationary pressures that are still sustained, rising 9.6% in the second quarter (annualized quarter-on-quarter), compared to 12.6% in the first.
As for international companies, the tire manufacturer Continental and the reinsurer Munich Re will publish their first-half results across the Rhine.
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