As the dollar strengthens, weakening other major currencies, some other events could also affect today's markets.

Stocks fell further on Monday as investors worry about a recession amongst hard-hitting monetary tightening by the FED. The strong dollar is pressuring other major economies with the pound currently suffering the most. The growing fears of an economic slowdown has added weight on everything from growth stocks such as big tech giants, to the prices of crude oil, which are down below $80 a barrel for WTI (investing.com).

The Federal reserve is out in full force with the aim to tackle inflation, regardless of what economic pain it may cause in the short run. Today the head chair, Jerome Powell, will be out to reinforce that message to the public and primarily for the investors.   

The main things that could also affect markets today:

1. CB consumer confidence  

• At 15:00 ET (10:00 US), the CB consumer number is due to be released for September. Analysts are expecting a reading of 104.5 vs the previous reading of 103.2 (investing.com).

2. Home prices

• At 14:00 (9:00 US), the S&P/CS home price index for 20 different cities is expected to come out as well as data on housing costs. Experts have predicted that the number for July will rise 17%, which would seem a steadier pace compared to the 18.6% gain in June (investing.com).

3. New home sales

• Also at 15:00 (10:00 US), the new home sales results are due to be released. With market specialists expecting to see 500,000 for August, which would be a decrease from 511,000 to the previous month (investing.com).

 

Additional information for investors to keep in mind for later in the week…

A powerful hurricane named “Hurricane Ian” could develop into a category 4 and cause damage, possibly by midweek in Florida (between Tampa and the panhandle). Even though this is miles out of the way for a chunk of the US offshore drilling, the storm could still interrupt some energy production later in the week, all depending on the severity of the Hurricane.

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