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 11, 2024
July 11, 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
The Fed may soon cut interest rates. That could make your next trip abroad more expensive
next post
Update on “Expressions of Interest” RFI Process

Related Posts

Donatella Versace steps down as head of Italian...

March 14, 2025

Novo Nordisk to build $4.1 billion North Carolina...

June 27, 2024

Uber delivery chief Gore-Coty is leaving after almost...

June 4, 2025

The Fed may soon cut interest rates. That...

July 11, 2024

Klarna, nearing IPO, plucks lucrative Walmart fintech partnership...

March 19, 2025

Warren Buffett’s Berkshire Hathaway reveals new stake in...

August 16, 2025

Paramount mandates 5-day-a-week return to office ahead of...

September 5, 2025

Lowe’s becomes latest company to dial back DEI...

August 29, 2024

Trump Media in reported talks to buy crypto...

November 20, 2024

Judge says he must still approve sale of...

November 26, 2024

    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

    • Ted Cruz accuses Biden of breaking pardon rules with autopen use after bombshell report

      September 10, 2025
    • Trump directed envoy to warn Qatar ahead of ‘unfortunate’ Israeli strike, White House says

      September 10, 2025
    • Schumer-linked PAC accuses senator of stock ‘greed,’ but financial disclosure contradicts claim

      September 10, 2025
    • Jury pool shrinks as Ryan Routh trial unfolds in Florida on Day 2

      September 10, 2025
    • Dem crime policies crippling cities even in Red states as crackdown intensifies, White House warns

      September 10, 2025

    Categories

    • Business (1,103)
    • Investing (3,005)
    • Politics (3,672)
    • Stocks (1,155)
    • 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