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 12, 2024
July 12, 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
Costco hikes membership fee for the first time since 2017
next post
Golden Deeps Expands Footprint in the World-Class Lachlan Fold Belt Copper-Gold Province, NSW

Related Posts

The Body Shop shuts down in the U.S....

March 14, 2024

These 2 stocks could benefit from Musk-led DOGE’s...

February 14, 2025

Tesla is no longer a trillion-dollar company: what...

February 26, 2025

Why Rivian’s new DOE deal has failed to...

January 20, 2025

Vodafone share price skid amid Vodafone Idea woes:...

September 19, 2024

Trump tariffs trigger $208 billion bloodbath among the...

April 4, 2025

X boss Elon Musk tempers comments about advertisers...

June 24, 2024

BYD Brazil site rocked by human trafficking allegations:...

December 28, 2024

Trump’s pause on tariffs on Mexico and Canada:...

February 4, 2025

Millions flock to Bluesky post-elections amid X’s falling...

November 14, 2024

    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

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,199)
    • Investing (2,531)
    • Latest News (2,000)
    • 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