Tuesday preview: Fed's Powell, US Treasury auctions in focus

(Sharecast News) - All eyes on Tuesday will be on the head of the US Federal Reserve ,who will deliver his semi-annual testimony to Congress.

At 1400 BST, Jerome Powell will speak before the US House of Representatives' Financial Services Committee.

His remarks will be coming close on the heels of the June non-farm payrolls report, which appeared to show signs of decreased demand for labour, in the form of hefty downwards revisions to job creation figures for April and May.

Likely not lost on market participants either was the Fed chairman's proclivity in recent times to adopt a dovish stance in many of his public appearances.

In turn, those often led to large moves in market pricing.

Consumer price data due out two days afterwards was expected to show a two tenths of a percentage point dip in the headline rate of CPI gains to 3.1% year-on-year in June.

That would mark the lowest reading since November 2023.

Core CPI on the other hand was seen unchanged at 3.4%.

Fed governors Michael Barr and Michelle Bowman were also due to deliver speeches.

Investors would also be keeping close tabs on auctions of one and three-year US Treasury debt.

Housing developer Vistry Group is scheduled to deliver a trading update ahead of its interim results on 5 September.

For the first six months of the 2024 fiscal year, UBS analyst Gregor Kuglitsch is anticipating 12% volume growth year-on-year with operating margins seen at 11.2%.

Full-year profit before tax and one-offs meanwhile was pegged to come in at £436m.

On 16 May, at the company's AGM, management had reiterated its guidance for profit growth in 2024.

Tuesday 09 July

INTERIMS

Synectics, Velocity Composites

FINALS

Begbies Traynor Group, Celebrus Technologies, Loungers , TPXimpact Holdings, TPXimpact Holdings

AGMS

British Land Company, Clontarf Energy , Distil, Oneiro Energy , Oxford Technology 2 VCT Ot2, Pacific Assets Trust

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BRC Sales Monitor (00:01)

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