Wall Street Anticipates Factory Output, Retail Sales Data, and Q2 Results from Netflix & Goldman Sachs
Economic Reports: Next week, Wall Street anticipates key reports on industrial production, retail sales, and second-quarter earnings from major companies like Netflix, Goldman Sachs, Bank of America, Abbott Laboratories, and Johnson & Johnson.
Federal Reserve Focus: Following Jerome Powell's recent testimony, investors are eager for his upcoming speech, where he emphasized the Fed's commitment to achieving price stability while keeping unemployment low.
Upcoming Economic Events: Powell's speech is scheduled for July 15. On July 16, data on US retail sales and business inventories for May will be released. July 17 will feature reports on industrial production for June and housing starts.
Earnings Reports: A host of companies including BlackRock, UnitedHealth, Morgan Stanley, and more will report their second-quarter earnings next week, providing insights into their financial health amid economic recovery.
Recent Market Performance: US stocks closed higher last week, with the S&P 500, Nasdaq, and Dow Jones Industrial Average posting gains fueled partly by mixed earnings from major banks.
Financial Indicators: The 10-year Treasury yield settled slightly lower at 4.18%, while the US dollar weakened against the Japanese yen but strengthened against the euro.
Commodities Market: Brent crude oil prices declined to $85.03 per barrel, and US crude oil for August delivery fell to $82.21 per barrel. Gold and silver prices saw minor fluctuations in trading.
Market Dynamics: Despite global economic uncertainties, ongoing corporate earnings reports and economic data releases are expected to influence market sentiment and investor decisions in the coming week.