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Next Week Outlook: Market Focus on Fed Chair Nominee, GDP Data to Test Rate Cut "Success"
BlockBeats News, December 21st, next week will see a Christmas market surge, with the U.S. stock market closing early on Wednesday and remaining closed all day on Thursday. The market is focusing on whether President Trump will announce his nomination for the Federal Reserve Chair during the Christmas holiday. Currently, Kevin Hassett, Chair of the U.S. National Economic Council, has once again taken a significant lead in the probability of becoming the next Federal Reserve Chair, at around 54%. Former Fed Governor Kevin Warsh has a nomination probability of around 21%, and Fed Governor Christopher Waller has a nomination probability of around 14%. Important macro events and data for the next week are as follows:
Tuesday:
U.S. Advance GDP for Q3 Annualized;
U.S. Personal Consumption Expenditures for Q3;
U.S. Core PCE Price Index for Q3 Annualized;
Wednesday:
Bank of Canada Monetary Policy Meeting Minutes;
U.S. Initial Jobless Claims up to December 20th;
Thursday:
Bank of Japan Governor Haruhiko Kuroda speech at the Japan Business Federation;
Japan Unemployment Rate for November;
Market Closure Reminder: Half-day market for the Hong Kong Stock Exchange on Wednesday, NYSE closes early on December 25th at 02:00 Beijing time; U.S. stock market closed on Thursday for Christmas.
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