![]() CNBC's Robert Hum and Yun Li contributed reporting. Traders will also watch for the personal consumption expenditures index, the Fed's preferred inflation gauge, which is due at the end of the week. ![]() It's a major week for industrial companies and big oil as well. Big tech earnings are on deck from Alphabet, Microsoft and Meta. Wall Street is anticipating earnings results from some 150 S&P 500 companies this week, or about 30% of the broader index. Traders will be listening to comments by Chair Jerome Powell to get a sense of the central bank's position on what happens next as it tries to navigate a soft landing for the economy. The Fed is widely anticipated to raise rates by a quarter percentage point at the conclusion of its meeting on Wednesday. Still, some market participants expect a major week for earnings, as well as the Federal Reserve's last policy meeting until September, could test the recent rally. So as long as there's no evidence of recession, and I think the market will probably continue to melt up people are chasing," Steve Eisman, senior portfolio manager at Neuberger Berman, said on CNBC's " Squawk Box." "So far, there's no evidence of a recession. For the week, the S&P 500 added 0.7%, while the Nasdaq Composite fell 0.6%. The blue-chip Dow eked out a 2.51-point gain on Friday, marking its longest rally since August 2017. ![]() Stocks continued to grind higher even after a 10-day advance for the Dow Jones Industrial Average. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower The price objective suggests that shares, up 2% this year, could rally more than 52% from Monday's close.Best Debt Consolidation Loans for Bad Credit The analyst lowered third-quarter EPS estimates to reflect some challenges within content sales and licensing, but retained her $135 price target. She added that Disney's "best-in-class premiere assets" and that CEO Bob Iger's "strong track record and deep industry relationships will steer the company in the right direction." "We remain confident that Disney has the proper mix of IP, content library/rights, brand value, park expansion opportunities and leadership to manage through the present challenging environment and position the company for future growth," wrote analyst Jessica Ehrlich in a Tuesday note to client.Įven as the company faces a range of "strategic issues," including a murky path to profitability in its direct-to-consumer business and an uncertain succession plan, Ehrlich remains confident in Disney. The S&P 500 and Dow are on track to finish the quarter up 6.6% and about 2%, respectively.įor June, the S&P 500 and Nasdaq are on pace to close nearly 5% higher, while the Dow is poised for a monthly advance of 3.1%.īank of America is standing by Disney even as the company faces some hurdles. It's on pace for its best first half in 40 years as investors scoop up technology stocks after 2022's slump. The Nasdaq has gained 10.9% since the start of April and 29.5% this year. "All we've been hearing about this year is the pending recession, but the truth is the economy is on solid footing and the odds of a recession decrease with each piece of economic data," said Ryan Detrick, chief market strategist at the Carson Group.įriday marks the end of the second quarter and first half of 2023. May durable goods data unexpectedly increased, while consumer confidence improved more than expected in June. The airline stock surged 6.8%.ĭespite Tuesday's broad market rally, Walgreens shed 9.3% after slashing its full-year profit guidance and reporting weaker-than-expected earnings.Įlsewhere, Wall Street assessed a fresh batch of economic data that signaled resilience despite fears of an impending recession. Consumer discretionary and travel stocks also took flight as Delta Air Lines boosted its financial guidance. Popular technology and artificial intelligence names such as Nvidia, Meta Platforms and Microsoft, rose on Tuesday, reversing Monday's selloff and lifting the tech-heavy Nasdaq. ![]() The S&P 500 advanced 1.15% to finish at 4,378.41, while the Nasdaq Composite surged 1.65% to settle at 13,555.67. The Dow Jones Industrial Average rose on Tuesday for the first time in seven days as Wall Street readied for the end of the first half and investors piled back into tech stocks. Best Debt Consolidation Loans for Bad Credit ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |