American Daddy Trader
  • Politics
  • Business
  • Stock
  • Editor’s Pick
  • Politics
  • Business
  • Stock
  • Editor’s Pick

American Daddy Trader

Business

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

by admin July 10, 2024
July 10, 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

previous post
DP Trading Room: These Banks are Bullish Going Into Earnings
next post
Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

You may also like

Sam Bankman-Fried sentenced to 25 years in prison...

March 30, 2024

Star real estate agents Alexander brothers arrested in...

December 13, 2024

Trump Media plummets 10% as post-lockup selloff picks...

September 25, 2024

Fox One streaming service to launch ahead of...

August 6, 2025

Disney CEO Bob Iger vanquishes billionaire foe Nelson...

April 4, 2024

It wasn’t the endless shrimp that doomed Red...

May 25, 2024

Employers added 206,000 jobs in June as sturdy...

July 8, 2024

Collapse of fintech firm with 10M users leaves...

May 24, 2024

Walmart to pay $10 million to settle lawsuit...

June 24, 2025

Mike Tyson, Jake Paul fight was the most...

November 21, 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.

    Recent Posts

    • Ukraine’s stolen children crisis looms large as NATO meets on Russia’s war

      August 21, 2025
    • Duffy’s DOT accuses Biden, Buttigieg of inflating air traffic controller pipeline: ‘Juiced the numbers’

      August 21, 2025
    • FBI arrests woman on ‘Ten Most Wanted Fugitives’ hiding in India, transports to US for prosecution

      August 21, 2025
    • Vance, White House blast ‘crazy communists’ protesting DC clean-up, terrorizing locals: ‘Stupid White hippies’

      August 21, 2025
    • Gabbard launches ‘ODNI 2.0,’ with plan to cut workforce by 40%

      August 21, 2025

    Archives

    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024

    Categories

    • Business
    • Editor's Pick
    • Politics
    • Stock
    • Uncategorized
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 americandaddytrader.com | All Rights Reserved