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Key News Topics for Today: Stocks, Shutdown Worries, and Inflation Data

Here are the latest updates on crucial news topics you should be following today:

1. Dow Jones Sees Positive Close Amid Bond Yields Slowdown

  • On Thursday, September 28, the Dow Jones index closed positively, thanks to a slowdown in U.S. bond yields.
  • Investors are eagerly awaiting the release of U.S. inflation data today, September 29, and closely monitoring progress in passing the interim budget draft in Congress.

2. Chinese Stock Market Closed for Mid-Autumn Festival

  • Today, September 29, the Chinese stock market remains closed in observance of the Mid-Autumn Festival.

3. Federal Reserve Chair Jerome Powell Offers No Clear Rate Direction

  • During a recent townhall meeting with academics on September 28, Federal Reserve Chairman Jerome Powell refrained from giving any signals about the direction of interest rates.
  • He emphasized the importance of ensuring the public’s understanding of the Fed’s role and mission, stating that one of the Fed’s goals in releasing economic forecasts is to provide information for informed spending and investment decisions in the present and the future.

4. Shutdown Concerns Loom Over U.S. Government Agencies

  • Investors are closely tracking Congress’s progress in passing the interim budget. Failure to reach an agreement by September 30 could lead to a shutdown of U.S. government agencies starting on October 1.
  • U.S. Transportation Secretary Pete Buttigieg warned that a government shutdown could halt air travel and force many air traffic control tower workers to take unpaid leave, potentially costing the U.S. travel industry as much as $140 million per day.

5. TEPCO to Release Radioactive Contaminated Water

  • Tokyo Electric Power Co. (TEPCO), the operator of the Fukushima Daiichi nuclear power plant, has announced its plan to release new radioactive contaminated water on October 5.

6. Economic Data Releases Today

  • Today, September 29, the British government will release the final estimate of the second-quarter 2023 gross domestic product (GDP) at 1:00 p.m. Thai time.
  • Following that, the Eurozone will report the September gross inflation rate at 4:00 p.m.

7. Focus on U.S. Personal Consumption Expenditures (PCE) Price Index

  • Investors are keeping a keen eye on the release of the Personal Consumption Expenditures (PCE) price index for August in the United States today, September 29, at approximately 7:30 p.m. Thai time.
  • The PCE index is a crucial measure of inflation that the Federal Reserve closely monitors, as it can detect changes in consumer behavior and covers a broader range of goods and services compared to the Consumer Price Index (CPI).
  • Analysts anticipate that the headline PCE index, which includes food and energy categories, will rise by 3.5% in August year-on-year, compared to 3.3% in July. Additionally, they expect the core PCE index, which excludes food and energy, to increase by 3.9% in August year-on-year, down from 4.2% in July.

Stay informed and stay ahead of the latest developments in these crucial areas of finance, economics, and global events.

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