Mixed signals
A New York Fed study shows that surging gas prices are hitting lower-income households hardest, which is likely to weaken consumer spending over the next week. This could slow GDP growth and hurt stocks like the S&P 500 (SPY), as consumers cut back on non-essentials. At the same time, there's a chance gold (XAUUSD) could rise as recession fears drive safe-haven buying, while the US dollar (DXY) may strengthen. If you're watching markets, keep an eye on consumer discretionary stocks (XLY) and gold this week.
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