Wall Street Set for Positive Week Despite Trump Shooting Wall Street looks set for a positive start this week as investors digest the implications of the attempted assassination of former President Donald Trump. The focus will also be on corporate earnings and Fed Chair Jerome Powell’s comments.
Trump to Receive Republican Nomination Amid Turmoil The 2024 Republican National Convention begins Monday, with Trump set to receive his party’s nomination after surviving an assassination attempt. Analysts speculate that the incident may boost his chances against President Joe Biden.
Futures Rise Ahead of Earnings and Powell’s Comments U.S. stock futures rose Monday in anticipation of a big week of corporate earnings and comments from Fed Chair Jerome Powell. Dow futures increased by 135 points, S&P 500 futures climbed by 17 points, and Nasdaq 100 futures rose by 88 points.
Goldman Sachs Leads Earnings Week Goldman Sachs will kick off the earnings week, with other financial giants like Bank of America and Morgan Stanley set to report later. Netflix will also release its earnings, providing insight into tech sector performance.
China’s Economic Growth Slows China’s economic growth slowed to 4.7% in Q2, its weakest since Q1 2023. Industrial output and retail sales also showed signs of slowing, forcing Beijing to introduce more stimulus measures.
Crude Prices Stable Amid Weak Chinese Data Crude prices stabilized despite weak Chinese economic data. U.S. crude futures dropped 0.1% to $80.94 a barrel, and Brent fell 0.1% to $84.95 a barrel, with political uncertainty in the U.S. and Middle East supporting prices.
