WEEKLY MARKET REPORT đ
⢠Monday: Fed Speak; $NVDA AI Summit
⢠Tuesday: $PEP Earnings
⢠Wednesday: Fed FOMC Minutes; 10Y Bond Auction
⢠Thursday: CPI Inflation, Jobless Claims; $TSLA Robotaxi Event
⢠Friday: PPI Inflation, Consumer Sentiment; $JPM $WFC $BLK Earningsâ ď¸
- A high-stakes corporate earnings season kicks into gear next week, with bullish investors hoping results will justify increasingly rich valuations in a U.S. stock market near record highs.
- The case for strong U.S. economic growth got a boost on Friday, after labor market data came in far above expectations. The S&P 500 is up 20% year-to-date and stands near record highs despite recent tumult spurred by rising geopolitical tensions in the Middle East.
- A key test for the rally will arrive as corporate results begin rolling in next week. Companies need to post healthy profit growth and strong outlooks for next year to sustain valuations that have crept up in recent months
- Data on U.S. consumer prices due next week will give investors another snapshot of the economy. A stronger than expected number, on the heels of Friday's jobs data, could further curtail expectations for how much the Federal Reserve is expected to cut rates in coming months.
- Futures tied to the fed funds rate on Friday showed pricing of a 50 basis point cut at the Fed's November meeting falling to 5%, from over 30% on Thursday, according to CME FedWatch.
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