As investors return from the long Labor Day weekend, they are likely to see focus shift to central banks in the coming week. That could mean more volatility for both stocks and bonds. There is very little earnings news and economic reports. Instead, investors are likely to more closely monitor the actions of global central banks and the speeches of Federal Reserve officials, including Fed Chairman Jerome Powell, speaker at the Cato Institute conference on Thursday. Fed Vice Chairman Lael Brainard is also among more than half a dozen Fed speakers over the next week. On the economic calendar, there is ISM services data for August on Tuesday and July international trade and the Fed’s beige book on Wednesday. Marc Chandler, chief market strategist at Bannockburn Global Forex, said: “Tuesday is Australia’s central bank, and they’re likely to raise 50. Mentioned rate hikes by half and three quarters of a point. . Chandler said the dollar, which has had a strong rally, could strengthen as other global central banks raise interest rates. The dollar index is up more than 0.7% for the week and up 7% over the past three months. “Perhaps we will join for a short time [dollar] “He’s talking about the dollar. That could come with higher stock prices and lower Treasury yields,” he added. “Everybody’s bearish like that and for good reason. I think people overestimated it a little bit,” Chandler said of the stock sell-off and boosted bond yields. intraday high around 3.28%. The August jobs report on Friday showed the economy added 315,000 jobs, close to the expected level. But the report also failed to produce some positive surprises. For example, there was an unexpected spike in participation rates to 62.4%, a 0.3 percentage point increase. That means more and more people are entering the workforce. Wage growth was also lower than expected. Some economists see the fact that the workforce in August has surpassed pre-pandemic highs as another good sign. “The needle moves a little bit more in favor of a soft landing, which is also good for American business,” Chandler said. I take place on September 20-21. However, the futures market is still pricing in a pretty high 65% chance of the Fed raising rates by 75 basis points. That would be the third time in a row following similar gains in June and July. The next big economic report before the Fed meeting is the August consumer price index on September 13. “I think we’ll have to look at the CPI report. This doesn’t take away 75 points, but it does. more inclined towards it, said Jim Paulsen, chief investment strategist at Leuthold Group. The S&P 500 closed at 3,924, down 3.3% for the week.Early in the week, the index fell past its 50-day moving average, which is the average of the last 50 closing prices. below that level is seen as a negative sign for momentum.Keith Lerner, co-CIO and chief market strategist at Truist Advisory Services, said some recent moves lower could be put to the test. Tuesday when many investors head back to the market, when summer isn’t officially over. “It’s the other side of Labor Day. Market volume is relatively thin. You’re going to make Wall Street sit back in their seats more to find out what happened,” he said, expecting markets to focus on comments from the Fed and other central banks in the coming week. “At least in the short term, we think things have been too one-sided since that June low,” Lerner said. [the 50-day] is a good thing. He said he hopes to have some profits next week. . “We think the top of the range is pretty well consolidated after the sell-off.” The top of the recent range will be the high of 4,325 from Aug. 16. Technically, Scott Redler, partner with T3Live.com, said the S&P 500 has failed to hold resistance at 4,018 and that could be a problem for the index in the coming sessions. He said if the S&P fails to hold 3,903, traders will be looking for a test of the lows. Analyst Todd Sohn said he is monitoring a key tech index for signals on the market’s next move. is the 61.8% retracement from the June bottom to the August high. The QQQ index closed Friday at $295.17. “If the market u I think we will test the June lows and break them,” he said. Sohn said there’s a chance the S&P 500 could also test as low as 3,637 if QQQ breaks and the S&P fails to hold 3,900. Oil drills Oil prices have plummeted over the past week, with West Texas Intermediate crude futures down about 10 percent at just above $83 as of Friday afternoon. OPEC+ meets on Monday and is expected to discuss production cuts to support prices. Helima Croft, head of global commodity strategy at RBC, said: “We think they will probably keep their official production policy intact for now. “Given the recent volatility in price, we certainly cannot rule out the group trying to set a floor, especially if there is another big move lower.” Calendar Monday Labor Day Market Closed Tuesday Earnings: Gitlab Software, Coupa 9:45 a.m. August PMI Services 10:00 a.m. August ISM Services Wed Earnings: John Wiley, NIO, Dave and Buster’s, GameStop, Verint Systems, Asana, Caseys General Stores, AeroVironment 8:30 am International Trade 9:00 am Richmond Fed President Barkin 10:00 am Cleveland Fed President Loretta Mester 12:35 pm Deputy Fed President Lael Brainard 2:00 p.m. Beige Book 2:00 p.m. Fed Vice President for Supervisors Michael S. Barr Thursday earnings: American Outdoor Brands, DocuSign, Smith & Wesson, Zscaler, Zumiez 8:30 a.m. Initial Jobless Claims Weekly 9:10 a.m. Fed Chair Jerome Powell at Cato Institute currency conference 3:00 p.m. July consumer credit Friday Earnings: Kroger 10:00 a.m. July Sell trade 10:00am Chicago Fed President Charles Evans 12:00pm Fed Governor Christopher Waller 12:00pm Kansas City Fed President Esther George