This will be a big week for earnings with over 150 S&P companies reporting. This is also the week for the big Fed policy decision on future rate hikes. The Dow added 175 points for its 11th straight day of gains. The Nasdaq and S&P had modest gains as investors bide their time for more critical news. Per the CBOE, volume came in quite light at 9.5 billion. (And it’s getting harder and harder to find these daily market summaries!)
Stocks rise to kick off
big week with earnings, Fed decision: Stock market news today
Karen
Friar, Dani Romero and Hamza
Shaban
Mon, Jul 24, 2023, 4:04 PM EDT1 min read Yahoo Finance
DJ: 35,227.69 +2.51 NAS: 14,032.81
-30.50 S&P: 4,536.34
+1.47 7/21
DJ: 35,411.24 +183.55 NAS: 14,058.87
+26.06 S&P: 4,554.64
+18.30 7/24
Stocks rose to kick off the week as investors
bided their time waiting for a crucial week of earnings to kick off and for a
key policy decision from the Federal Reserve.
The Dow
Jones Industrial Average (^DJI) led the way higher, moving over 0.5%, or more
than 175 points — its 11th straight day of gains. The S&P 500 (^GSPC) added around 0.4%, while the tech-heavy Nasdaq
Composite (^IXIC) added 0.2%.
Earnings
season moves into high gear this week, with over 150 companies on the S&P 500 on the docket. Eyes are on Big Tech results
from Microsoft (MSFT), Alphabet (GOOGL), and Meta (META), given the Nasdaq was dragged down by second
quarter reports from Tesla (TSLA) and Netflix (NFLX) last week.
THE TAKEAWAY
Stocks rose on Monday as investors bided their
time waiting for a crucial week of earnings to kick off and for a key policy
decision from the Federal Reserve.
Investors are also bracing for the Fed's interest rate decision
at the end of its policymaker meeting on Wednesday, widely expected to deliver
a hike. The question on minds is whether the central bank stays hawkish and
signals more raises are likely, and what that means for the odds of the US
economy avoiding a recession.
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