Market is uncertain, waiting on economic reports, Q2 earnings, and interest rate decisions

From Nasdaq: 2024-08-12 11:20:00

Last week saw a noisy week of trading, with tech-heavy Nasdaq down mid-week but turning green by Friday. The Fed is holding interest rates high until September mid, with a weakening labor market. Early this week, we await economic reports like PPI, CPI, and Fed Budget. Market expects a +0.2% rise in CPI for July.

Bond rates suggest a September cut, with 10-year yields dropping to +3.71%, their lowest level since Christmas. The inverted yield curve between 10-year and 2-year treasury yields is narrow, indicating expectations of a rate cut. Mortgage rates are at a year low of +6.5%, attracting new homebuyers.

Q2 earnings season continues with reports from Home Depot, Cisco, Walmart, and Alibaba this week. The stock market is experiencing growth, especially in the semiconductor sector, with projected global sales to skyrocket to $803 billion by 2028. A top chip stock recommended by Zacks offers potential for significant growth.

For in-depth analysis and free stock reports on Walmart, Cisco, Brinker International, Home Depot, and Alibaba, visit Zacks.com. Stay informed on the latest investment recommendations and market updates from Zacks Investment Research. Stay up to date on market trends and stock performance by visiting Zacks.com for the latest news and analysis.



Read more at Nasdaq: Will Markets Settle Down? New CPI, Retail Sales, Q2 Earnings On Deck