S&P 500 rises in anticipation of tech earnings and Fed meeting

From Investing.com: 2024-07-29 16:16:36

The S&P 500 closed higher on Monday in anticipation of tech earnings and the upcoming Federal Reserve meeting. The Fed meeting is expected to provide clarity on a possible rate cut in September, driven by positive inflation data from May and June. Apple, Microsoft, and other tech giants are set to report earnings this week following a recent technology stock rout. Despite McDonald’s lower-than-expected quarterly sales, the stock rose on optimism over new promotions. Tesla gained after being named a top stock pick, while Stellantis hit lows on a downgrade. The focus this week will be on the labor market, with the upcoming jobs report and other employment data being closely watched.



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