How each event might influence the markets:
* Fed Chair Powell Speaks: Investors will be looking for clues about the Federal Reserve's monetary policy plans from Jerome Powell's speech. If Powell suggests that the Fed is likely to raise interest rates more aggressively to combat inflation, it could lead to a sell-off in the stock market. Conversely, if Powell indicates that the Fed is nearing the end of its rate hike cycle, it could boost stock prices.
* June Retail Sales Data: Retail sales data is a key indicator of consumer spending, which is a major driver of economic growth. Strong retail sales data could indicate that the economy is on solid footing, which could support stock prices. Weak retail sales data, on the other hand, could raise concerns about a slowdown in economic growth and put downward pressure on stocks.
* June Building Permits Data: Building permits data is a leading indicator of housing market activity. An increase in building permits suggests that builders are optimistic about the future of the housing market, which could be positive for stocks in related sectors such as construction materials and homebuilders. Conversely, a decline in building permits could signal a slowdown in the housing market, which could weigh on stocks in those sectors.
* Philly Fed Manufacturing Data: The Philly Fed Manufacturing Index is a measure of manufacturing activity in the Philadelphia region. A strong reading from the Philly Fed could be seen as a positive sign for the overall manufacturing sector and the broader economy, potentially lifting stock prices. A weak reading, on the other hand, could suggest that the manufacturing sector is contracting, which could hurt stocks in manufacturing-related companies.
* Large Banks Report Q2 2024 Earnings: The earnings reports of large banks will provide insights into the health of the financial sector and the broader economy. Strong earnings reports from banks could boost investor confidence and lead to higher stock prices. Conversely, weak earnings reports could raise concerns about the profitability of banks and the overall health of the economy, potentially leading to a sell-off in stocks. #US_Job_Market_Slowdown
