Big Week for Jobs, Earnings and Fed
Digest more
Markets are bracing for a big week with Magnificent Seven earnings, fresh economic data, and a policy update from the Fed on deck.
The Federal Reserve is slated to announce its latest interest-rate decision, and investors will scour the July jobs report. Earnings season marches on, with four of the “Magnificent Seven” names headlining a packed schedule.
“The rally in the S&P500 stalls after the US-EU trade deal, as the falling Euro signals tough times ahead for the EU, and the overall global economy as tariffs are set to increase on August 1st,” Damir Tokic, Seeking Alpha analyst since 2013, said.
5mon MSN
Wall Street chugged mostly higher in premarket trading as Chinese and U.S. officials begin a second day of trade talks.
Personal finance tech company SoFi Technologies is slated to report quarterly results before markets open Tuesday, and traders are expecting a sizable post-earnings stock move.
S&P 500 industrial companies reported quarterly results this week, of which 19 delivered an earnings beat, while three reported a miss. 15 of the reporting companies exceeded revenue consensus, while seven trailed expectation.
Shares of Armstrong World rose after the company posted second-quarter earnings that beat analysts' expectations and raised its full-year outlook. The stock was up 7.7% to $181.83 and is up 29% so far this year.
The S&P 500 and the Nasdaq retreated from record highs on Tuesday as some corporate earnings disappointed, as investors waded through the latest round of economic data ahead of a Federal Reserve policy statement.
Friday marked another winning day for the S&P 500 and Nasdaq, as both indexes posted fresh all-time intraday and closing highs.
For the quarter, analysts expect Meta to report earnings per share (EPS) of $5.89 on revenue of $44.83 billion, according to Bloomberg consensus estimates. The company saw EPS of $5.16 and revenue of $39.07 billion in the same period last year.
US stocks moved higher on Tuesday, eyeing a bid for more records as investors combed through a fresh rush of corporate earnings and waited for key economic data in a big week on Wall Street. The mood is modestly upbeat as a blockbuster week for markets gets into full swing,