Last week, five central bank announcements took the spotlight, notably the US Federal Reserve's, featuring Jerome Powell's post-announcement press conference.

The Bank of Japan surprised us by raising rates for the first time in 17 years, while the Swiss National Bank cut rates unexpectedly.

Notable earnings included BYD, McCormick, and GameStop on Tuesday, and Cintas, Paychex, and Carnival Cruise Line on Wednesday. Thursday saw Walgreens Boots Alliance reporting.

Powell's conference focused on inflation, unemployment, and growth projections, notably a forecasted GDP growth of 2% by 2025, despite the current quarter's 4.9%.

Housing market dynamics and pending home sales also drew attention. Rising energy and housing costs contribute to inflation concerns, prompting speculation on potential market impacts if inflation continues to rise unchecked.

Most significantly, the Core PCE Price Index announcement on Friday is anticipated to reflect rising inflation, potentially altering market rate cut expectations.

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