American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports

by admin July 11, 2024
July 11, 2024
S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports

The S&P 500 and Nasdaq closed at record highs on Monday as investors await key inflation data to provide further clues about whether this year’s market rally is sustainable. Earnings from some major financial giants and consumer companies are also on the docket.

The broad market index ended the day up 0.1% at 5,572.85, while the Nasdaq Composite advanced 0.28% to 18,403.74. The Dow Jones Industrial Average finished 31 points lower, or 0.08%, at 39,344.79.

The S&P 500 is coming off its fourth positive week in the last five amid ongoing optimism that easing inflation — and any pockets of weakness in the economy — could lead to a Federal Reserve interest rate cut.

The June consumer price index, which will be released Thursday, could bolster those hopes if the headline number shows a slight improvement. Producer price index data will be released Friday.

Last week, labor data reflected a slightly cooling jobs market, spurring expectations of a rate cut. Although the U.S. economy added more jobs in June than anticipated, there was also an unexpected rise in the unemployment rate, to 4.1% from 4%. Traders are currently expecting two interest rate cuts in 2024, with the first in September, according to the CME FedWatch Tool.

“We believe the fundamental backdrop remains supportive for equities, driven by solid economic and earnings growth, interest rate cuts, and rising investment in AI,” UBS strategist Vincent Heaney wrote in a Monday note.

PepsiCo and Delta Air Lines are set to post results on Thursday. Then, a slew of major banks, including Citigroup and JPMorgan Chase, will kick off second-quarter earnings season on Friday.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
WOA Proprietary Technology Successfully Adapted to Produce Pea & Faba Protein Isolates
next post
Walmart, Chipotle and others feel the heat over prices

Related Posts

Dow futures trade in red on Wednesday: 5...

August 20, 2025

S&P 500 closes above 5,000 for first time...

February 11, 2024

What next for the Joby Aviation stock price...

June 9, 2025

One Gravity NFTs sell out in 60 seconds...

March 14, 2025

EasyJet share price analysis: buy, sell, or hold?

October 15, 2024

Tesla ramps up AI push with 10x larger...

August 6, 2025

US, China strike trade deal: key tariffs reduced,...

May 12, 2025

Short TGT: Target Corp. Faces Continued Pressure after...

December 19, 2024

Levi’s guidance does not factor in tariffs, but...

April 8, 2025

Weekly recap: tech titans woo Trump, Xi’s political...

September 7, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Oil jumps 2% as OPEC agree to smaller output hike for October, sanction threats looms

      September 8, 2025
    • Weekly recap: tech titans woo Trump, Xi’s political theatre, Starmer’s reshuffle

      September 7, 2025
    • Trump reaffirms backing for Robert Kennedy amid vaccine policy turmoil

      September 7, 2025
    • South Korean president promises aid to citizens held in US immigration raid

      September 7, 2025
    • Tim Cook’s repeated ‘thank yous’ at Trump’s White House dinner go viral

      September 7, 2025

    Categories

    • Business (3,916)
    • Investing (2,848)
    • Latest News (2,058)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved