Stock Market Today
US stocks wavered on Monday ahead of a consequential week that could provide key signals for the near-term path of interest rates. The S&P 500 (^GSPC) hovered around the flatline, while the tech-heavy Nasdaq Composite (^IXIC) edged up 0.1%, following record highs achieved last Friday. The Dow Jones Industrial Average (^DJI), however, erased earlier session gains to slip 0.2%.
Market Sentiment Post-Jobs Report
The S&P and Nasdaq are looking to build on the records set in the wake of Friday's jobs report, which indicated a continued cooling in the labor market. This report spurred increased speculation about a possible interest rate cut by the Federal Reserve in September. According to the CME FedWatch tool, approximately 75% of traders now expect a rate cut in September.
Upcoming Economic Indicators
Several events this week could further influence the momentum for a rate cut. Federal Reserve Chair Jerome Powell is scheduled to deliver semiannual testimony in Congress on Tuesday and Wednesday. Additionally, the latest Consumer Price Index (CPI) report is set for release on Thursday. Economists anticipate that headline inflation has risen by 3.1% over the past year, matching the levels seen at the start of the year.
Global and Corporate Developments
In other significant events, a left-wing coalition in France garnered the most votes in the country's election, surprising the far-right, which had hoped to secure a parliamentary majority. Consequently, the benchmark French index (^FHCI) rose slightly.
In corporate news, Boeing (BA) pleaded guilty to a criminal conspiracy charge related to two fatal 737 Max crashes. Despite this, Boeing's shares increased by nearly 1% during the session.
Meanwhile, Tesla's stock (TSLA) erased early session losses and turned positive, continuing an eight-day winning streak. This performance highlights Tesla's resilience and the market's confidence in the company's long-term investment prospects.
For more information on related topics, consider exploring:
Te puede interesar
Lo más visto
