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Market Rally and Economic Data Drive Stock Market Outlook
2024-08-18 19:55:07
Markets
Stocks
Economy

Market Rally and Economic Data Drive Stock Market Outlook

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The stock market surged with major indices posting their best week of 2024, led by tech-heavy Nasdaq, S&P 500, and Dow Jones. Positive economic data, including CPI and retail sales, influenced the market, while housing data fell short.

Notable earnings reports from Home Depot and Walmart were observed, with sectors like technology, consumer discretionary, and financials leading the pack. Looking ahead, upcoming data on existing and new home sales, alongside Federal Reserve Chairman Jerome Powell's remarks at Jackson Hole, will be pivotal.

Earnings releases from companies like Estee Lauder and Palo Alto Networks will also be in focus, shaping the market sentiment.

Related news on that topic:

Navigating the Turbulent S&P 500: Market Volatility and Strategic ... Insights

The S&P 500's recent bounce is likely exhausted due to various factors like geopolitical tensions and weakening consumer spending. Despite a strong economic week, the looming 10% correction suggests caution. Analysts predict sharp rallies amid volatility, with upcoming events shaping market sentiment. Amidst recession fears, the economy's resilience defies doomsayers, led by strong retail sales and falling jobless claims. The upcoming FOMC meeting anticipates a rate reduction, reflecting a slower economic growth pace. Selling stocks in the current volatile market is advised against, with a long-term investment strategy recommended for weathering the storm and maximizing gains.

U.S. Economy Shows Signs of Recession Fears Receding

Recent data and strong economic indicators have eased concerns of a U.S. recession. Investors are advised to focus on quality growth stocks and consider market tracking, Treasury, and bond ETFs. Key technical levels for major companies like Google, Netflix, and CrowdStrike are highlighted. Walmart, Home Depot, Chevron, and Hasbro report positive earnings. The stock market remains optimistic due to Fed rate cuts, strong consumer spending, and falling jobless claims. Goldman Sachs lowers U.S. recession risk and expects a rate cut. However, the New York Fed predicts a recession by next July. Upbeat earnings reports help fuel market recovery, with some companies seeing year-over-year declines in EPS. The market experiences volatility during an aging bull market, but the bullish case remains strong. An aging bull market and market leaders may impact the overall market performance. Investors are advised to monitor geopolitical factors and upcoming U.S. elections.

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Fed Chairman Jay Powell to speak at Jackson Hole; high expectations for Target earnings; X shuts down in Brazil; Chevron, Hasbro, Target, Walgreens go ex-dividend this week; S&P 500 faces resistance at 5,566 and 5,670; Goldman Sachs cuts U.S. recession odds to 20%.
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Good economic data has sparked a stock rally. Here's what will drive the week ahead

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Stocks rallied, led by the tech-heavy Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, marking the best week of 2024. Economic data, including CPI and retail sales, painted a positive picture, though housing starts and permits disappointed. With earnings from Home Depot and Walmart, 93% of the S&P 500 has now reported. Technology, consumer discretionary, and financials were the top-performing sectors. Upcoming data includes existing and new home sales, while investors will listen for..
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