Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports

by admin July 10, 2024
July 10, 2024
S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports

The S&P 500 and Nasdaq closed at record highs on Monday as investors await key inflation data to provide further clues about whether this year’s market rally is sustainable. Earnings from some major financial giants and consumer companies are also on the docket.

The broad market index ended the day up 0.1% at 5,572.85, while the Nasdaq Composite advanced 0.28% to 18,403.74. The Dow Jones Industrial Average finished 31 points lower, or 0.08%, at 39,344.79.

The S&P 500 is coming off its fourth positive week in the last five amid ongoing optimism that easing inflation — and any pockets of weakness in the economy — could lead to a Federal Reserve interest rate cut.

The June consumer price index, which will be released Thursday, could bolster those hopes if the headline number shows a slight improvement. Producer price index data will be released Friday.

Last week, labor data reflected a slightly cooling jobs market, spurring expectations of a rate cut. Although the U.S. economy added more jobs in June than anticipated, there was also an unexpected rise in the unemployment rate, to 4.1% from 4%. Traders are currently expecting two interest rate cuts in 2024, with the first in September, according to the CME FedWatch Tool.

“We believe the fundamental backdrop remains supportive for equities, driven by solid economic and earnings growth, interest rate cuts, and rising investment in AI,” UBS strategist Vincent Heaney wrote in a Monday note.

PepsiCo and Delta Air Lines are set to post results on Thursday. Then, a slew of major banks, including Citigroup and JPMorgan Chase, will kick off second-quarter earnings season on Friday.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Walmart, Chipotle and others feel the heat over prices
next post
Barcelona protesters throw items and spray travelers with water while shouting ‘tourists go home’

Related Posts

Renewable energy demand could triple as electricity consumption...

July 25, 2024

Amazon ‘anti-union propaganda,’ employee surveillance loom over labor...

February 18, 2025

Google forcing some remote workers to come back...

April 28, 2025

Auto insurance rates are jumping the most since...

May 25, 2024

How UnitedHealthcare became the face of America’s health...

May 23, 2025

Extreme heat is prompting higher home cooling costs....

August 1, 2024

Here’s why banks don’t want the CFPB to...

March 11, 2025

Tesla’s law firm drafts Delaware bill that could...

February 20, 2025

Judge says he must still approve sale of...

November 26, 2024

AI-powered sports media company raises $13 million, led...

February 13, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Joe Rabil’s Undercut & Rally Pattern: From DROP to POP

      June 19, 2025
    • The Secret To Streamlining Your Charting Workflow

      June 19, 2025
    • Feeling Unsure About the Stock Market’s Next Move? These Charts Can Help

      June 19, 2025
    • In Iran’s ‘forever war’ against the US, regime has targeted and killed Americans worldwide

      June 19, 2025
    • DAVID MARCUS: Trump’s base trusts him to play strong hand in Iran

      June 19, 2025

    Categories

    • Business (988)
    • Investing (2,419)
    • Politics (2,997)
    • Stocks (1,083)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved