S&P 500 (SPY) Report – 07/11/23

Good morning traders! 

The S&P 500 ($SPY) is trading above yesterday’s close. Let’s get into it… 

On Tuesday, stock futures hold steady as investors anticipate inflation reports that could sway the Federal Reserve’s stance on interest-rate increases. Despite the stability in the market, a recent survey highlighted a seven-month peak in US business confidence in June, even amidst persistent worries about price pressures stemming from a constricted labor market.

Investors are also weighing the implications of comments from Fed officials hinting at potential further rate hikes. They are keenly awaiting consumer and producer inflation reports due to be released soon. Other key factors under scrutiny include China’s possible actions to strengthen its economy and the potential impact of Amazon’s Prime Day on the retail industry and consumer spending patterns.

In addition, investors are on the lookout for U.S. corporate profit reports to gauge the effects of inflation and a slowdown in consumer spending on businesses. Global markets in Europe and Asia exhibited mixed performance, while U.S. crude oil prices experienced a slight uptick. Minor gains were observed in the S&P 500, Dow Jones, and Nasdaq on Monday.

Tuesday Economic Events:
NFIB Small Business Index 6:00am ET
Redbook Sales 8:55am ET
API Crude Oil Data 4:30pm ET
Continued in Morning MashUp

Fed Speaker Scheduled:
John Williams 11:00am ET


DailyBubble’s Disclaimer
This article provided by the DailyBubble team should only be considered as informational and/or entertainment by the reader. DailyBubble makes no representation to buy or sell any security or financial instrument within the article. Readers seeking investment advice should seek independent financial advice from a professional, and independently research and verify. The DailyBubble team wrote this article and may express its own opinions therein.

Related Articles

Notify of
Inline Feedbacks
View all comments