Could this be the next catalyst to drive the stock market up? By StockNews
© Reuters. Could this be the next catalyst to drive the stock market up?
The week cut short by last week’s holiday saw a mix of highs and lows as investors questioned the strength of the reflation trade. Longer-term yields fell, driven by fears of a risk-free environment, and the S&P 500 (SPY) appeared to close for the week for the first time in three weeks until a rally on Friday led markets to new records. This week, I expect to see some possible volatility as investors react to more economic data releases. Yet, looking at the big picture, the next catalyst for the markets is earnings season, which begins tomorrow with the release of the bank earnings reports. I’ll give an overview of the earnings season and what it means for our portfolio, but let’s first look at the markets since Wednesday. Read on below… (Please enjoy this updated version of my weekly POWR Value newsletter commentary).
Stocks ended higher on Wednesday as investors digested the minutes of the Fed’s June meeting. The statement signaled a split over when to reverse crisis-era monetary policies. While some officials expected to start cutting their bond purchases sooner than expected, others wanted to wait.
The news follows an employment report showing fewer workers left their jobs in May, meaning an expected increase in job vacancies was not as large as previously thought.
Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.