The stock market kicked off the week with a small decline, signaling that the focus for the upcoming week will mainly revolve around inflation, interest rates, and the start of the second-quarter earnings season.
The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all suffered a decrease and fell below the neutral level.
S&P 500 (^GSPC)
The finance sector in New York’s Wall Street is eagerly awaiting the upcoming inflation reports for American consumers and producers, which are scheduled to be released later this week. It is believed that these reports will show a decline in the pressure on prices.
This data could potentially sway the Federal Reserve’s decision to decrease its intentions of raising interest rates in the latter part of this year. Nevertheless, although there has been a slight decrease in job opportunities in June, it is still anticipated that the Federal Reserve will move forward with a rate increase in July.
Meanwhile, China has undergone price fluctuations recently, indicating a potential occurrence of deflation in the economy. This is worrisome since Beijing’s attempts to boost the economy do not effectively handle the issue.
Investors are getting ready for significant financial results from well-known banks such as JPMorgan and Citi, as their reports for the second quarter are set to be released on Friday.
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