Prior to the opening of the market, the main indices of the New York market showed slight falls due to the weak data shown by the Chinese economy.
This Monday July 10thhe S&P 500 falls 0.8% to 4,395.73 units. He Dow Jones Industrial Average climb 0.4% to 33,852.18 points; Meanwhile he Nasdaq Composite plunges 0.4% to 13,609.88 units, while investors wait for the key report on inflation and comments from a number of officials of the Federal Reserve during the week to gauge the path of interest rates.
Prior to the opening of the market, the main Wall Street indices registered slight falls due to weak dates that the Chinese economy threw; the operation in the New York stock market is cautious.
Wall Street: the data that the market watches
In China, heConsumer prices fell at the fastest pace in more than seven years during June, as its recovery slowed, according to data published by the Government on Monday. Also this week there will be several economic events in which the inflation data from Canada and the United States stands outin addition to the start of treporting season by the companies.
Different analysts of Wall Street went ahead in arguing that the data probably, on this occasion, they will not be able to drive new profits. “We are in a ‘gap of informationn’ until Wednesday,” said thomas hayesChairman of Great Hill Capital.
michael wilsonfrom Morgan Stanley, one of the most pessimistic voices in equitieswas the latest to warn that forecasts will matter more than usual this time due to high stock valuations, higher interest rates and declining liquidity.
“It’s going to be harder for the market to recover if all we get is an earnings season that ‘it’s not as bad as we thought,’ especially since the market has become so expensive,” said Matt Maley, chief market strategist at Miller Tabak for his part.
It will be announced next Wednesday. US inflation and the decision on the Canadian interest rateto.
Also, throughout the week statements are expected from various executives of the Federal Reserve (Fed), which will give more indications about the next decision of monetary politics.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
