This week main stock earnings
US stocks were mostly higher on Monday, though tech heavyweight Nvidia (NVDA) lagged at the start of the last week of another successful quarter on Wall Street. The benchmark S&P 500 rose 0.3%, while the tech-heavy Nasdaq Composite hugged the flatline. The Dow Jones Industrial Average climbed roughly 0.8%.
Quarterly Performance and Market Trends
Stocks are aiming to cap off a high-flying quarter. The S&P 500 is up around 4.5% this quarter, and the Nasdaq has surged approximately 8% driven by an AI-driven rally. However, the rally showed signs of fatigue towards the end of last week. Nvidia (NVDA), a standout performer in 2024, lost ground after hitting fresh all-time highs. These losses seemed poised to continue on Monday, with the stock down around 2% in early trading.
Macroeconomic Factors and Political Spotlight
Attention is turning to the macroeconomic front and the US political scene. US President Joe Biden and presumptive Republican nominee Donald Trump are set for their first debate on Thursday evening. This event could have significant implications for the financial sector and market sentiment. For more insights, see Yahoo Finance.
Inflation Data and Federal Reserve Policies
On Friday morning, the Personal Consumption Expenditures (PCE) index will be released, containing the "core" PCE measure, which is closely watched by the Federal Reserve. Economists expect core PCE to have risen just 0.1% last month, marking the slowest monthly increase since last November. Such data could ease concerns about immediate rate cuts. According to the CME FedWatch tool, traders expect the Fed to begin cuts in September.
This week's events and data releases will be crucial for investment planning and decisions on foreign investment. Investors are advised to stay informed and consult with their financial advisors to navigate potential market volatility.
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