With the end of his speech tonight, Powell ended his visit to the US Congress this week.
Although the speech did not reveal more positive information about this year's interest rate cut, the probability of a rate cut in September has remained above 70%.
The US stock market continues to rise, and international gold and US bonds rise at the same time. There are still risks behind the prosperity of the US stock market.
At present, the US stock market is still led by technology stocks.
With the suspension of interest rate hikes, US banks have lost their largest source of income. This Friday will be the earnings release date for Morgan and Citigroup. The current market assessment is mixed.
At the same time, starting from the middle of this month, the earnings reports of the seven major US technology giants will be released one after another. I will write a schedule of the earnings release dates of various companies and send it to everyone at the weekend.
The second quarter earnings report may bring greater market pressure to companies due to the continuous rise of US stocks. Over-expectations are one of the important tests for earnings reports. I don’t know whether the US stock market can continue the bull market trend in this earnings cycle. Please stay tuned.
