In this article, we will cover the last week’s Wall Street performance. And also we will guide you on what things may probably happen in the coming week. Stay back and enjoy the read to make profits.
The S&P 500 has gained slightly lower than 1%. i.e 0.6%
The banking stocks have lifted the S&P 500 marginally up. Morgan Stanley, Bank of America, and Newyork Mellon banks performed well in their quarterly results.
DOW has skyrocketed in the last week. It has moved 2.11% upward making an all-time high price bracket.
Currently, Dow is at 35,227 which is an all-time high. The DOW has risen about 10% year to date
FED’s policy meeting ahead
The US Fed is likely to move up with another rate hike making it into a 22-year high in history.
As of the most recent data available, the Federal Reserve has raised interest rates ten times within the span of a year.
Currently, the rate is at 5.25%, and it is assumed that FED may increase another 25 points making it to 5.50% which is an all-time high since 2001.
Inflation in the USA
The inflation has eased in the united states. Currently, the CPI is at 3% which is an all-time low since April 2021.
As of June 2022, inflation has reached 9%, marking the highest rate since 2020.
Results ahead
On 24/07/2023
Whirlpool, Brown & Brown, Domino’s Pizza, Logitech International, and NXP Semiconductors will release their results.
On 25/07/2023
Microsoft is scheduled to release its results on Tuesday (25/07/2023)
Alphabet will also release its results on Tuesday
Alaska Air, Biogen, GE HealthCare, General Electric, General Motors, Invesco, NextEra Energy, Snap, Spotify, Texas Instruments, Verizon Communications, Xerox, and many others will also release their results.
Conclusion
Overall let’s wait to see the FED approach to the interest rate hike in the coming week. We have started this Wallstreet week ahead program to realize every Sunday morning. Please support us for more updates related to the stock market. The earnings reports will definitely support the indices to rise even further.
