⚠️3 Things to Watch in Markets This Week: -U.S. Jobs Report -Fed Speakers -AMD, Caterpillar, Starbucks Earnings 👉 $DIA $SPY $QQQ $IWM $VIX
U.S. stocks added to their recent rally on Friday, with all three major indexes gaining for the month and for the week.
The S&P 500 gained about 9.1% for July in its biggest monthly percentage gain since November 2020, while theStocks were boosted by mainly upbeat earnings reports, along with investor speculation that the Fed may not need to be as aggressive with interest rate hikes as some had feared. Despite the positive end to the month for stocks, Mark Haefele, chief investment officer at UBS Global Wealth Management, told Reuters investors should proceed with caution, noting:"In the near term, we think the risk-reward for broad equity indexes will be muted. Equities are pricing in a 'soft landing,' yet the risk of a deeper 'slump' in economic activity is elevated.
Only three BoE officials voted in favor of a 0.5% rate hike at the bank’s last two meetings, but data since then has shown inflation hitting a four-decade high of 9.4%. It could hit 12% by October - six times the BoE target.Elsewhere, the Reserve Bank of Australia is expected to hike rates by 0.5% at its upcoming
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