By Liz Moyer
Investing.com -- Stocks slumped further on Monday, extending last week's declines, as investors worried about a recession amid aggressive monetary tightening by the Federal Reserve.
Currencies and bonds are also in the news. The strong dollar is pressuring other economies, with the British pound falling to a fresh low of less than $1.04 before ticking higher after the Bank of England made a statement in its defense.
Investors can't stop worrying about a global economic slowdown, and that has pressured everything from growth stocks such as big tech to the price of crude oil, which is down below $80 a barrel for WTI.
The Fed is out to tame inflation no matter what kind of economic pain that may cause in the short run. This week will feature speeches by a slate of Fed officials who presumably will be out to reinforce that message.
Investors were also watching as a powerful hurricane takes aim at Florida's west coast, possibly by midweek. Hurricane Ian could develop into a Category 4 hurricane and slam into Florida somewhere between Tampa and the panhandle. While that's out of the way of the bulk of the U.S. offshore drilling industry on the Gulf Coast, the storm could still interrupt some energy production later in the week.
Here are three things that could affect markets tomorrow:
1. House price index
At 9:00 ET (13:00 GMT), the S&P/CS home price index for 20 cities comes out alongside other data on housing costs. Analysts expect the number for July to rise 17%, which would be a cooler pace from the 18.6% gain in June.
2. New home sales
At 10:00 ET, the new home sales numbers come out. Analysts expect to see 500,000 for August, which would be down from 511,000 the prior month.
3. CB consumer confidence
Also at 10:00 ET, the CB consumer confidence number comes out for September. Analysts expect a reading of 104.5 versus the prior reading of 103.2.