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Stock Market Focus: Powell's Testimony, Earnings Season, and ...
2024-07-10 05:56:06
Markets
Stocks
Economy

Stock Market Focus: Powell's Testimony, Earnings Season, and CPI Influence Market Sentiment

Investors are closely monitoring Federal Reserve Chairman Jerome Powell's testimony, the ongoing earnings season, and the upcoming CPI data, which are key factors driving market sentiment. With record highs in major indices like the S&P 500 and Nasdaq Composite, questions about interest rate policies and economic indicators loom large.

Concerns about overbought stocks and potential corrections, particularly in tech giants, add to the market's volatility. Analyst sentiments vary, with some revising S&P 500 targets upwards on strong earnings and economic data, while others warn of increased volatility tied to the CPI report.

The market remains on edge as investors navigate uncertainties and seek direction amidst a dynamic economic landscape.

Related news on that topic:

Stock Market Sets New Records as Investors Await Powell's ... Testimony

The stock market continues its record-setting climb as investors eagerly await Federal Reserve chair Jerome Powell's testimony to Congress. The S&P 500 and Nasdaq Composite have reached new highs, but concerns about a potential summer pullback and high expectations for the upcoming earnings season are causing some caution. Investors are also questioning the recent rally in AI-linked stocks. Meanwhile, European stocks are set to open lower as investors await Powell's testimony for clues on the US interest-rate outlook. Despite the positive performance of US stock markets, the German DAX remains cautious ahead of Powell's hearing. Additionally, there are warnings of a potential 10% correction in the US stock market, with analysts citing concentrated gains in tech stocks and overvaluation as factors. Overall, the stock market's performance in the coming weeks will be closely tied to Powell's statements on monetary policy and the performance of tech giants during the earnings season.

Federal Reserve Chair Powell Testifies to Congress on Economic ... Rate Cuts

Federal Reserve Chairman Jerome Powell testified before Congress, highlighting the central bank's focus on downside risks to the economy as well as inflation. Powell expressed concerns about the cooling job market and persistently high prices, signaling that the Fed may be moving closer to cutting interest rates. He emphasized the need to balance reducing policy restraint to avoid weakening economic activity and employment. While Bitcoin briefly bounced back above $57,000, analysts expect selling pressure from various factors to weigh on its price. Powell's comments suggest that the foundations are being laid for a potential rate cut in September, though he did not provide a definitive timeline. The stock market continues to hit all-time highs, but investors are cautious about a potential pullback and are closely watching Powell's testimony for insights into the central bank's view on the economy and inflation.

Read 7 more recent news on this topic

The press radar on this topic:

The Street
9. Juli 2024 um 22:08

Stock Market Today: Stocks higher into jobs data; Tesla extends run TheStreet Daily Newsletter

Finance
Economy
Technology
U.S. equity futures rose slightly ahead of the June jobs report, which is expected to show a modest decline in job growth and slower wage gains. Stocks extended gains earlier this week, with the S&P 500 reaching a new record high. Chip stocks could see early momentum following an update from Samsung forecasting a surge in operating profits. Investors are closely watching the jobs data for signs of cooling inflation that could influence the Federal Reserve's rate decisions.
The Street
10. Juli 2024 um 12:09

Something's gotta give in this summer's whackadoodle market TheStreet Daily Newsletter

Finance
Economy
Technology
The stock market has been on a record-breaking run, with the S&P 500, Nasdaq Composite, and Nasdaq-100 indexes all closing at new highs. However, the higher prices rise, the greater the risks to the market. Indicators like the relative strength index (RSI) suggest that many stocks, including tech giants like Apple, Alphabet, and Microsoft, are overbought and due for a pullback. The market's heavy reliance on a few large tech companies is a concern, and a correction could hit the most vulnerable..
The Street
10. Juli 2024 um 17:07

Stock Market Today: Stocks dip with Powell, earnings, CPI in focus TheStreet Daily Newsletter

Finance
Economy
U.S. equity futures edged lower on Monday as investors await a busy week on Wall Street, including testimony from Federal Reserve Chairman Jerome Powell, the release of June inflation data, and the start of the second-quarter earnings season. Stocks ended higher last week, with record closing levels for the S&P 500 and Nasdaq Composite. Investors are looking for clues on the Fed's interest rate policy and the state of the economy.
The Street
10. Juli 2024 um 22:08

Analyst revamps S&P 500 target ahead of CPI inflation report TheStreet Daily Newsletter

Finance
Economy
Wall Street analyst John Stoltzfus has revised his S&P 500 price target upwards, citing stronger-than-expected corporate earnings, a robust domestic economy, and gains in megacap tech stocks. The S&P 500 has already reached 34 all-time highs this year, with a year-to-date gain of over 17%. However, concerns remain about the concentration of megacap stocks and whether the underlying market performance warrants such consistent gains. Stoltzfus believes the current bull market has legs, with slow..
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