Wall Street’s major indexes climbed roughly 1% following July’s retail sales data, which suggested strong consumer spending and eased concerns about a possible imminent recession in the world’s largest economy, on Thursday. At 9:35 a.m. ET, the Dow Jones Industrial Average rose by 503.66 points, or 1.26 per cent, reaching 40,512.05. The S&P 500 increased … Read more
After the rout in stock markets last week, Wall Street investors’ attention in the week ahead will be on inflation readings with the Producer Price Index and the Consumer Price Index data slated to be released on Tuesday and Wednesday, respectively. The week ahead will also see some more significant economic data including retail sales … Read more
After a weak jobs report stoked fears of US economic recession last week, Wall Street investors will stay cautious and closely watch the upcoming economic data in the week ahead. A report on Friday showed hiring by US employers slowed in July by much more than economists had expected. Next week, reports on US services … Read more
Next Week, Wall Street will see two key economic reports on industrial production and retail sales, and second quarter results of several major companies such as streaming giant Netflix, Goldman Sachs, Bank of America, Abbott Laboratories, and Johnson & Johnson. After Federal Reserve Chairman Jerome Powell’s testimony to the US Congress last week, investors will … Read more
US Federal Reserve Chairman Jerome Powell on Tuesday testified before the Senate Banking Committee. Powell in his prepared testimony told Senators that inflation had been improving in recent months but more good data would strengthen the case for interest rate cuts. “More good data would strengthen our confidence that inflation is moving sustainably toward 2%,” … Read more
Next week, Wall Street will see several key economic data such as the Federal Reserve minutes, employment numbers, S&P final US manufacturing PMI, and trade deficit data. Job openings data for May and nonfarm payrolls report for June are likely to be the major focus of the stock market participants. Last Friday, a report showed … Read more
Wall Street investors in the week ahead will be eyeing the US Federal Reserve preferred inflation gauge – PCE, and the personal income and spending data. Among the other crucial data, the second revised estimate of first quarter GDP (gross domestic product) growth and May home sales numbers are due in the week ahead. The … Read more
Nvidia share price rallied over 3% on Tuesday as the chip maker the world’s most valuable company, dethroning tech heavyweight Microsoft. Nvidia shares rose 3.5% to $135.58, lifting its market capitalization by over $110 billion to $3.335 trillion, just days after overtaking iPhone maker Apple to become the second most valuable company, Reuters reported. The … Read more
On Wall Street in the week ahead, the stock markets would be guided by key economic data such as US retail sales and factory output among others. The holiday-shortened week will also see few big earnings such as IT and consulting services firm Accenture and supermarket chain Kroger. Economic events On June 17 (Monday), data … Read more
On Wall Street in the week ahead, spotlight will be on the jobs data for May, among other economic reports. The jobs data holds significance as it will be the last economic report before the Federal Reserve’s upcoming monetary policy meet on June 11-12. Investors are hoping for a interest rate cut in the next … Read more