shortstartup.com
No Result
View All Result
  • Home
  • Business
  • Investing
  • Economy
  • Crypto News
    • Ethereum News
    • Bitcoin News
    • Ripple News
    • Altcoin News
    • Blockchain News
    • Litecoin News
  • AI
  • Stock Market
  • Personal Finance
  • Markets
    • Market Research
    • Market Analysis
  • Startups
  • Insurance
  • More
    • Real Estate
    • Forex
    • Fintech
No Result
View All Result
shortstartup.com
No Result
View All Result
Home Forex

US Stocks Edge Up to Record Highs Ahead of Big Earnings Week

US Stocks Edge Up to Record Highs Ahead of Big Earnings Week
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



Wall Street closed relatively flat on Monday, ahead of a busy week of earnings announcements.

However, modest gains of 0.14% and 0.38% for the S&P 500 and the Nasdaq, respectively, saw both indices inch their way to record highs, as investors appeared to shrug off any concerns of the ongoing rift between the White House and the Federal Reserve.

Strong Verizon Earnings Fuel Optimism

Once again, earnings season is upon us, and it’s off to a strong start.

As of Monday, 62 companies from the S&P 500 have thus far reported earnings, 85% of which have beaten expectations. Among these expectation-beating companies is Verizon, which released second quarter earnings before the market opened on Monday morning.

Not only did the telecommunication giant’s results beat analyst forecasts, but it also raised the lower end of its full-year profit outlook.

At the end of last week, Verizon’s share price was up just 2% year to date. However, its shares jumped 4% in Monday’s session, making it the S&P 500’s top performer and fuelling optimism that other results will also come in strong.

Also helping to drive Wall Street higher on Monday was Google parent Alphabet, which advanced 2.7% ahead of its own earnings announcement on Wednesday.

Bessent Calls for Federal Reserve Inquiry

US Treasury Secretary Scott Bessent on Monday called for a review to “examine the entire Federal Reserve institution and whether they have been successful”. 

His comments mark an intensifying rift between the current administration in Washington and the US central bank.

Last week, reports circulated that US President Donald Trump might be preparing to fire Fed Chair Jerome Powell, who has been on the receiving end of regular criticism from the president over the Fed’s reluctance to lower interest rates. Trump later denied any such plan.

The Fed has held rates steady since December, opting to wait and see what effect Trump’s trade policies might have on prices before lowering rates any further.

The Fed’s next interest rate decision is due to be announced next Wednesday, 30 July, with rates expected to remain unchanged. Markets indicate that the Fed will probably cut rates at its following meeting, in September.

What to Look Out for This Week

With earnings season back underway, the pace of announcements is due to pick up in the coming days. 

Taking centre stage this week are Alphabet and Tesla, the first of the Magnificent Seven to announce earnings, with both companies slated to release results on Wednesday. 

Investors are likely to watch these announcements closely, and they could set the tone for the results of other tech giants in the coming weeks. 

On the other side of the Atlantic, the European Central Bank (ECB) is due to announce its latest interest rate decision on Thursday. After seven consecutive cuts, the ECB is expected to hold interest rates steady this week.  

Practise Trading on a Risk-Free Demo Account

Are you interested in practising trading without risking your funds? A demo trading account from Admiral Markets allows you to do just that, whilst trading in realistic market conditions. Click the banner below to open a demo account: 

Trade with a risk-free demo account

Practise trading with virtual funds

OPEN DEMO ACCOUNT

INFORMATION ABOUT ANALYTICAL MATERIALS:

The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets trademark (hereinafter “Admiral Markets”) Before making any investment decisions please pay close attention to the following:

This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
With view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
The Analysis is prepared by an analyst (hereinafter “Author”). The Author Roberto Rivero is a contractor for Admiral Markets. This content is a marketing communication and does not constitute independent financial research.
Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.



Source link

Tags: AheadBigEarningsedgehighsrecordstocksweek
Previous Post

Estonia’s Mifundo Partners with CRIF Switzerland to Expand Access to Swiss Credit Data – Fintech Schweiz Digital Finance News

Next Post

Episode 218. “Our childcare costs are about to quadruple. Are we screwed?” (Part 2)

Next Post
Episode 218. “Our childcare costs are about to quadruple. Are we screwed?” (Part 2)

Episode 218. “Our childcare costs are about to quadruple. Are we screwed?” (Part 2)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

shortstartup.com

Categories

  • AI
  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Crypto News
  • Economy
  • Ethereum News
  • Fintech
  • Forex
  • Insurance
  • Investing
  • Litecoin News
  • Market Analysis
  • Market Research
  • Markets
  • Personal Finance
  • Real Estate
  • Ripple News
  • Startups
  • Stock Market
  • Uncategorized

Recent News

  • FREE $20 Old Navy purchase after cash back!!
  • Key Elements of a Market-Based Health System
  • 39 Projects, Smart Contracts, and Strategic Shake-Up
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy
  • Terms and Conditions

Copyright © 2024 Short Startup.
Short Startup is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Business
  • Investing
  • Economy
  • Crypto News
    • Ethereum News
    • Bitcoin News
    • Ripple News
    • Altcoin News
    • Blockchain News
    • Litecoin News
  • AI
  • Stock Market
  • Personal Finance
  • Markets
    • Market Research
    • Market Analysis
  • Startups
  • Insurance
  • More
    • Real Estate
    • Forex
    • Fintech

Copyright © 2024 Short Startup.
Short Startup is not responsible for the content of external sites.