QUESTION:
Give me a comprehensive US market update for this week.
RESPONSE:
This week in the U.S. financial markets is marked by a series of significant events and trends that are influencing investor sentiment and market movements:
1. Federal Reserve Meeting: The Federal Reserve’s Open Markets Committee is meeting this week. While there is widespread expectation that interest rates will be left unchanged, the market is hopeful for new insights regarding future rate adjustments[1][2][3].
2. Earnings Reports: It’s a busy week for earnings, with numerous major companies reporting their results. This influx of profit reports is causing U.S. stock indexes to experience mixed movements. Some sectors, particularly Big Tech, have seen declines which have influenced overall market performance[4][5][6][7][8][9][10][11][12][13][14][15].
3. Economic Data: The monthly jobs report for July is due at the end of the week. This report is particularly significant as it provides critical inflation data about the health of the job market. The outcome could influence the Fed’s decisions on interest rates in the near future[16][17].
4. Stock Market Performance: The U.S. stock indexes have shown mixed results, generally drifting or ticking slightly higher or lower depending on the day. The performance of Big Tech stocks has notably kept the indexes in check[18][19][20][21][22][23][24][25].
5. Interest in Small-Cap Stocks: There is a noted rotation from tech stocks to small-cap stocks, indicating a shift in investor focus towards potentially undervalued segments of the market[26].
6. Global Economic Influences: Asian markets have also shown varied responses, with some rallying and others falling, reflecting global economic uncertainties and their impact on U.S. markets[27][28].
Overall, the U.S. markets are navigating through a complex environment of earnings reports, economic data releases, and central bank meetings, all of which are contributing to a cautious but attentive trading atmosphere.
References
[1] More CFOs Are Looking To The Future, Survey Says [Forbes]
The Federal Reserve’s Open Markets Committee meets this week, and while they could use this data to lower interest rates—presumably giving consumers an impact they can see and feel—analysts say it’s highly unlikely. https://www.forbes.com/sites/meganpoinski/2024/07/30/more-cfos-are-looking-to-the-future-survey-says
[2] Yen eases as Nikkei jumps, central bank meetings loom [CNBC]
Meanwhile, the Federal Reserve is widely expected to leave rates unchanged this week, but cut them by a quarter point at the following meeting in September. https://www.cnbc.com/2024/07/29/yen-eases-as-nikkei-jumps-central-bank-meetings-loom.html
[3] 2-year Treasury yield inches higher as Fed meeting is set to begin [CNBC]
Markets are widely expecting interest rates to be left unchanged by the central bank this week, but many investors are hoping that policymakers will give fresh hints about the outlook for rates. https://www.cnbc.com/2024/07/30/us-treasurys-as-fed-meeting-is-set-to-begin-.html
[4] Stock market today: Wall Street ticks higher as earnings reports keep pouring in
NEW YORK (AP) — U.S. stock indexes are ticking higher Tuesday as profit reports keep pouring in from big companies.
[5] Can Stocks Turn In A Gold Medal Performance? [Forbes]
We’ll see if the companies reporting this week have been able to cobble together a better answer over the last week. https://www.forbes.com/sites/jjkinahan/2024/07/29/can-stocks-turn-in-a-gold-medal-performance
[6] AP Top Extended Financial Headlines at 4:18 p.m. EDT
U.S. stock indexes drifted to a mixed finish ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates
[7] AP Top Extended Financial Headlines at 2:04 p.m. EDT
U.S. stock indexes are drifting ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates
[8] How major US stock indexes fared Monday, 7/29/2024
U.S. stock indexes drifted to a mixed close ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[9] CNBC Daily Open: Asian shares slide, U.S. stocks flat ahead of Big Tech earnings; McDonald’s earnings miss [CNBC]
The S&P 500 and the Nasdaq Composite inched higher on Monday ahead of a busy week for Big Tech earnings with investors also awaiting the U.S. central bank’s policy announcement on Wednesday. https://www.cnbc.com/2024/07/30/cnbc-daily-open-asian-shares-slide-us-stocks-flat.html
[10] Stock market today: Wall Street poised for gains as markets ready for a busy week of earnings, news
Wall Street was poised to open Monday with gains ahead of a busy week chock full of earnings and other market-moving events.
[11] Stock market today: Wall Street drifts, and trading remains quiet as profit reports keep pouring in
NEW YORK (AP) — U.S. stock indexes are drifting in quiet trading Tuesday as profit reports keep pouring in from big companies.
[12] AP Top Extended Financial Headlines at 10:45 a.m. EDT
U.S. stock indexes are drifting in mixed trading ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates
[13] Stock market today: Asian shares mostly fall ahead of central bank meetings
U.S. stock indexes drifted to a mixed finish Monday to kick off a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[14] Stock market today: Wall Street drifts, and crude oil slides ahead of a frenetic week
NEW YORK (AP) — U.S. stock indexes are drifting Monday ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[15] Stock market today: Wall Street drifts in mixed trading at the start of a frenetic week
NEW YORK (AP) — U.S. stock indexes are drifting in mixed trading Monday ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[16] Start your week smart: Golan Heights attack, 100 days until election, cartel bust, Sonya Massey case, Alzheimer’s blood test [CNN]
We end the week with the monthly jobs report for July, which is another bit of economic data the Fed will be watching closely. https://edition.cnn.com/2024/07/28/us/5-things-sunday-july-28-trnd/index.html
[17] Rotation To Small-Cap From Tech Stocks Continues [Forbes]
Friday’s monthly jobs report caps the week with critical inflation about the health of the job market since it would be more challenging for the Fed to begin cutting rates with economic growth remaining solid unless the labor market continues to soften. https://www.forbes.com/sites/bill_stone/2024/07/28/rotation-to-small-cap-from-tech-stocks-continues
[18] How major US stock indexes fared Tuesday, 7/30/2024
More drops for Big Tech stocks kept U.S. stock indexes in check Tuesday.
[19] How major US stock indexes fared Monday, 7/29/2024
U.S. stock indexes drifted to a mixed close ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[20] CNBC Daily Open: Asian shares slide, U.S. stocks flat ahead of Big Tech earnings; McDonald’s earnings miss [CNBC]
The S&P 500 and the Nasdaq Composite inched higher on Monday ahead of a busy week for Big Tech earnings with investors also awaiting the U.S. central bank’s policy announcement on Wednesday. https://www.cnbc.com/2024/07/30/cnbc-daily-open-asian-shares-slide-us-stocks-flat.html
[21] AP Top Extended Financial Headlines at 4:04 p.m. EDT
U.S. stock indexes drifted to a mixed close ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates
[22] AP Top Extended Financial Headlines at 10:45 a.m. EDT
U.S. stock indexes are drifting in mixed trading ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates
[23] Stock market today: Asian shares mostly fall ahead of central bank meetings
U.S. stock indexes drifted to a mixed finish Monday to kick off a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[24] Stock market today: Wall Street drifts, and crude oil slides ahead of a frenetic week
NEW YORK (AP) — U.S. stock indexes are drifting Monday ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[25] Stock market today: Wall Street drifts in mixed trading at the start of a frenetic week
NEW YORK (AP) — U.S. stock indexes are drifting in mixed trading Monday ahead of a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
[26] Rotation To Small-Cap From Tech Stocks Continues [Forbes]
Friday’s monthly jobs report caps the week with critical inflation about the health of the job market since it would be more challenging for the Fed to begin cutting rates with economic growth remaining solid unless the labor market continues to soften. https://www.forbes.com/sites/bill_stone/2024/07/28/rotation-to-small-cap-from-tech-stocks-continues
[27] Asian Markets Extend Wall St Rally After US Data And Ahead Of Fed [Barron’s]
The upbeat mood comes at the start of a busy week for traders, with the central banks of the United States and Japan making policy decisions, a key US jobs report due on Friday and megacaps releasing their earnings. https://www.barrons.com/news/asian-markets-extend-wall-st-rally-after-us-data-and-ahead-of-fed-6f8c8b94
[28] Stock market today: Asian shares mostly fall ahead of central bank meetings
U.S. stock indexes drifted to a mixed finish Monday to kick off a week full of earnings reports from Wall Street’s most influential companies and a Federal Reserve meeting on interest rates.
