S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
US Dollar Slips as Softer PPI Data Eases Fed Rate Hike Expectations 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
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Consumer activity in the United States is expected to remain buoyant in the third quarter of this year, with a further forecast of 0.1 percent m/m increase in August personal spending following July’s 0.3 percent rise.
However, the annual increase in the consumer expenditure deflator, the Fed’s preferred measure of inflation, is expected to be only slightly higher at 1.5 percent. The US dollar headed for its best week this year, in part driven by expectations that US tax reforms could provide some support to economic growth.
Over the weekend, a couple of political events bear watching. The Conservative Party Conference begins on Sunday, while in Spain, the Catalonian region will hold an independence referendum, also on Sunday.
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