From Nasdaq: 2024-07-30 12:41:30

US stocks were mixed today, with the Dow Jones up at a 1-1/2 week high. Howmet Aerospace gained over 13% after raising its full-year forecast, while PayPal, Stanley Black & Decker saw significant gains too. On the downside, Merck & Co and CrowdStrike Holdings were down after cutting forecasts. Economic news was positive but is seen as negative for stocks.

Major central banks are set to decide on monetary policy this week. The BOJ may cut bond purchases, while the Fed could hint at rate cuts in September. The Bank of England is expected to slash rates by 25 bp. Investors are watching tech stocks closely this week, with Microsoft, Meta, Apple, and Amazon reporting earnings soon.

Q2 earnings for the S&P 500 companies are projected to rise 9% y/y, with most companies beating earnings expectations but falling short on revenue. Market consensus leans towards a 25 bp rate cut next week. Overseas markets saw mixed results today, with European bond yields lowering. European economic sentiment improved, with forecasts for a rate cut by ECB at 92%.



Read more at Nasdaq: Stocks Waver on Strong Economic News and Mixed Corporate Earnings Results