Market Focus Shifts to Earnings Season Amid Inflation and Rate Cut Speculation

MARKET INDEX

DAILY PIPZ Analyst Team

7/12/20241 min read

U.S. stock futures stabilized after profit-taking on Wall Street despite signs of easing inflation, ahead of the second-quarter earnings season kickoff with major banks reporting. Key players like JPMorgan Chase, Wells Fargo, Citigroup, and Bank of New York Mellon are set to release earnings, followed by Goldman Sachs, BlackRock, Morgan Stanley, and Bank of America next week.

Investors are watching closely to see if high interest rates and persistent inflation impacted corporate earnings, amid expectations that the Federal Reserve may start cutting rates in September following softer-than-expected consumer price index data for June.

Despite optimism about rate cuts, concerns remain about slowing economic growth, prompting Wall Street indexes to retreat from record highs, particularly due to profit-taking in the technology sector, which had surged on AI hype.

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Market Focus Shifts to Earnings Season Amid Inflation and Rate Cut Speculation

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CFDs and Spot FX are complex instruments and come with high risk of losing money rapidly due to leverage and may not be suitable for all kind of traders or investors.

Most of traders or investors accounts lose money when trading CFDs and Forex. You should consider whether you understand how CFDs and Forex work and can afford the high risk of losing your money.

All information that we share in this DAILY PIPZ website are based on our professional analysis in the past and the final decision to trade is yours. Please remember that past performance may not be indicative of future results.

Trade or invest with the money that you can afford to lose. We’re not responsible for any possible outcome that might occurred.