Monday's Market Minute: New Day, Fresh Start

As shutdowns start to lift in certain areas and businesses reopen under strict guidelines, global indices are looking for direction with little in terms of economic data to start the week. There wasn’t much out overnight other than Italian Industrial production, which fell -28.4% month over month and -29.3% year over year. But things will heat up as we start to see some closely watched inflation data headed our way, including CPI tomorrow, PPI & Jobless Claims on Wednesday, and Retail Sales on Friday. I expect a fair amount of attention to be focused on interest rates and the yield curve, which has been steepening as the shorter end points south. The real debate seems to be over how long it takes for things to return back to normal, and ultimately what that new norm looks like.

Over the weekend, Federal Reserve Bank of Minneapolis President Neel Kashkari said the worst has yet to come on the job front and that Congress will continue to have to assist those who have lost jobs, suggesting the recovery may take longer than initially expected. Keep an eye on the Japanese Yen, which is slipping some after a strong move up throughout April and the beginning of May. And don’t forget about Crude Oil and Copper – two commodities that are suggesting the worst might be behind us, as both have seen a nice move up off recent lows. For all the breaking news and coverage of these markets and more, stay tuned to the TD Ameritrade Network.

Photo by John Cameron on Unsplash