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Market Recap: Stocks Rally in Best Week of 2024 Amid Positive ...
2024-08-17 05:50:07
Stocks
Economy
Markets

Market Recap: Stocks Rally in Best Week of 2024 Amid Positive Data and Expectations of Fed Rate Cut

Stocks surged in the best week of 2024, rebounding from the early August sell-off. Positive Walmart earnings, retail sales, and consumer sentiment allayed recession concerns, prompting a 2% rally on Thursday.

Investors now anticipate a 0.25% Fed rate cut, with Fed Chair Powell set to address the situation at Jackson Hole. Analysts predict a soft landing for the US economy, with recent data supporting this view and pointing towards future rate cuts.

Retail earnings, the upcoming Powell speech, and economic indicators remain in focus as the market maintains optimism amidst uncertainties.

Related news on that topic:

US stock market: Largest weekly gain of the year, recession ... concerns ease

The US stock market closed higher, with the largest weekly gain of the year, as concerns about a US recession have eased. Investor focus is on the annual economic symposium in Jackson Hole, Wyoming from August 22-24. The S&P 500 and Nasdaq Composite have risen for 7 consecutive trading days, recording their largest weekly gain since late October last year. Positive economic data, such as the US consumer price index (CPI) and retail sales, have contributed to the rally, indicating a gradual decline in inflation and healthy personal consumption. The Federal Reserve's commitment to cutting rates in September has also boosted confidence. Next week, the market will be watching for comments by Fed Chair Powell at the Jackson Hole meeting, which could impact expectations for rate cuts. In individual stocks, semiconductor equipment maker Applied Materials fell as its Q4 revenue outlook missed estimates.

Stock Index Futures Flat as Economy Fears Fade

Stock index futures were largely unchanged as economic data and Walmart's comments eased recession fears. Treasury yields fell, signaling market rebound from recent pessimism. Retail sales and jobless claims improved, indicating consumer resilience. Upcoming consumer sentiment data will reflect political partisanship, not consumer feelings. The Federal Reserve is unlikely to save the market from its fate. Investors are hopeful for an economic soft landing, with positive data alleviating concerns. Strong economic data this week includes cooling inflation and healthy consumers. The S&P 500 and Nasdaq are on track for their best week. Walmart reported strong results, indicating consumer strength. Investors expect the Fed to start cutting rates in September. European stocks rose for a fourth consecutive session, driven by auto stocks. Oil prices tumbled on weak China demand. Sterling climbed to a 3-week high on recovering sentiment.

Read 32 more recent news on this topic

The press radar on this topic:

The Street
20. August 2024 um 15:05

Walmart, Ulta up; AT&T down - Midday stock movers TheStreet Daily Newsletter

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Stocks rallied on retail, jobs data. Nvidia up 4th day, Tesla, Amazon, Ulta surged on investments. Cisco gained on earnings, layoffs. Walmart jumped on Q2 beat, raised outlook, but cited U.S. election, Middle East unrest. Nike rose after Pershing Square buy. Ulta to report Q2 earnings Aug 29. AT&T down.
The Street
20. August 2024 um 10:03

Stock Market Today: Stocks amid best week of 2024 on soft landing bets TheStreet Daily Newsletter

Finance
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Stocks rise on soft landing bets; Federal Reserve aims for 25 bps September rate cut; Atlanta Fed forecasts 2.4% Q3 growth; 10-year Treasury yield at 3.884%; U.S. dollar index down 0.16%; S&P 500 up 0.38% in August; Dow and Nasdaq also higher; Stoxx 600 up 0.46%, FTSE 100 down 0.42%; Nikkei 225 surges 3.64%, MSCI ex-Japan up 1.79%; TheStreet Daily Newsletter reports, Wall Street Analysts weigh in.
Yahoo!
16. August 2024 um 21:06

Retail earnings, Fed Chair Powell's speech: What to watch

Economy
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Retail earnings: Lowe's, Target, Ross, TJ X; Estee Lauder, Palo Alto, Toll Brothers. July existing/new home sales, Fed officials Waller, Bar, FOMC minutes, Powell's 2024 Economic Policy Symposium speech in Jackson Hole.
Yahoo Finance
19. August 2024 um 12:15

Dow Jones Futures: Powell Due After Market's Best Week In 2024; Nvidia, AI Stocks Near Buy Points | Investor's Business Daily

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Dow futures open; Powell speech looms; market rally's best week; Nvidia, Meta, Arista near buy; Palo Alto, TJX, Cava earnings; ETFs like FFTY, IGV, SMH gain; XME, XHB, XLE advance; XLI, XLF rebound; Tesla surges.
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