Tuesday 7/30
More than 150 S&P 500 index companies announce results this week, headlined by four of the Magnificent Seven. Microsoft is first up, announcing earnings on Tuesday, followed by Meta Platforms on Wednesday. Amazon.com and Apple report results on Thursday. Last Wednesday, the Nasdaq Composite Index had its largest one-day percentage decline since October 2022, as investors questioned how quickly the massive investment in artificial-intelligence infrastructure will help companies' bottom lines.
Wednesday 7/31
The Federal Open Market Committee announces its monetary-policy decision. Wall Street expects the FOMC to keep the federal-funds rate unchanged at 5.25%-5.50%. Traders will parse Fed Chair Jerome Powell's words at the postmeeting conference for clues as to whether a mid-September rate cut is in the cards, as the market has fully priced in.
Friday 8/2
The Bureau of Labor Statistics releases the jobs report for July. Economists forecast a 177,500 increase in nonfarm payrolls, after a 206,000 gain in June. The unemployment rate is expected to remain unchanged at 4.1%. Earlier this month, Powell said that "the labor market appears to be fully back in balance."
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(END) Dow Jones Newswires
July 26, 2024 21:30 ET (01:30 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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