The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

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

0
FacebookTwitterGoogle +Pinterest
previous post
Paramount merger sparks concern among movie theater owners
next post
Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

Related Posts

Reddit pops 48% in NYSE debut after selling...

March 25, 2024

Apple announces iPhone event for Sept. 9

August 27, 2024

Caroline Ellison seeks to duck prison sentence for...

September 13, 2024

JPMorgan creates new role overseeing junior bankers as...

September 19, 2024

Cava revenue beats estimates as Mediterranean chain reports...

May 17, 2025

Big Lots files for bankruptcy protection as it...

September 11, 2024

Why the LA Rams are worth $2 billion...

September 6, 2024

Costco cracks down on membership card sharing

August 9, 2024

New deep-water channel allows first ship to pass...

April 26, 2024

McDonald’s to extend $5 value meal in most...

July 24, 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

    • The Real Drivers of This Market: AI, Semis & Robotics

      August 31, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,370)
    • Politics (4,370)
    • Stocks (1,619)
    • Uncategorized (45)
    • World News (1,363)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, 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 thetraderharbor.com | All Rights Reserved