S&P 500 Prediction: Retail sales data & corporate earnings. Last week, the index had its 5th best showing of the year.
S&P 500 and US indices Key Points
The previous week, the S&P 500 increased by a rate of to little over 4,500.
On Tuesday, earnings are reported by Morgan Stanley and Bank of America.
Netflix, Tesla, and Goldman Sachs are all due on Wednesday.
Johnson & Johnson and Taiwan Semiconductor will release their quarter financial results on Thursday.
S&P 500 News Headlines:
After the closing on Wednesday, Tesla will publish its Q2profits, which are expected to be quite strong. The consensus estimate on Wall Street calls for adjusted profits a share (EPS) of $0.82 @ $24.76 billion in earnings. Although the industry lead in electric vehicles substantially dropped pricing to increase supplies during the prior 3 months. Over 90 percent of experts have lowered their EPS projections for Tesla.
According to the Q2 supply numbers that was provided at the start of July. The aspect of CEO Elon Musk’s approach has been successful. Tesla impressively supplied 466,140 EVs throughout this quarter. That amount was 83 percent more than a year before earlier & 10% above the first quarter.US retail sales from June are forthcoming on Tuesday
With a gain of 2.42%, the S&P 500 index had its fifth-prominent week of this year. If the present zig zag trend persists. A reversal will occur this week. Yet, given the number of well-known corporations releasing profits this week, it appears a little implausible.
Major commercial banks began the earnings cycle this past week with overwhelmingly positive outcomes. The two JPMorgan along with Wells Fargo had strong gains. Bank of America (BAC), Goldman Sachs, Morgan Stanley, & American Express (AXP). Among others, will add further hue into the financial realm during the coming days.
The peak of the tech market’s instability occurs on Wednesday, when each Tesla (TSLA) & Netflix (NFLX) announce. And before that, on Tuesday in the late hours, the US Census Bureau will publish US Retail Sales data the month of June.
S&P 500 futures are now off 0.1% in Monday’s afternoon were off, and NASDAQ 100 futures stay unchanged. The reason for all the gloom seems to be lower-than-anticipated Chinese GDP numbers.
According to Christian Mueller-Glissman of Goldman Sachs with his colleagues, that is a lower likelihood that the price of stocks will rise more in the 2nd half of 2023. The Mueller-Glissmann group stated in a letter previous Friday suggested a range-limited market would come from declining inflation. Paired with conflicting economic reports from China as well as Europe.
