<h2>Key Highlights: -</h2>&nbsp;<ul><li>Shares of Goldman Sachs climb as the company's outlook is positive.</li><li>Carvana's stock jumps following the announcement of a debt restructuring plan.</li><li>The Dow Jones Industrial Average (Dow) achieves its longest daily winning streak in almost 4 years.</li><li>The Dow is up 0.31%, the S&amp;P 500 is up 0.24%, and the Nasdaq Composite Index is up 0.03%.</li></ul> In a compelling show of strength, the Dow Jones Industrial Average and S&amp;P 500 index rose modestly on Wednesday, marking the blue-chip Dow's eighth consecutive day of gains. Investors closely evaluated the recent corporate earnings, but the Nasdaq struggled to make significant progress due to a decline in Microsoft's stock. <h2>Bank Stocks Rally Continues with S&amp;P 500 Bank Index Leading the Charge</h2> The S&amp;P 500 bank index, also known as .SPXBK, continued its impressive rally, advancing by 1.70%. This remarkable performance marked the third consecutive session of gains and the eighth time the index has risen in the past nine sessions. <h2>Goldman Sachs Remains Strong Amidst Profit Dip</h2> Despite reporting a 3-year low in profit, Goldman Sachs managed to stay resilient, with the CEO, David Solomon, expressing optimism about signs of recovery in investment banking. This positive sentiment echoed similar comments from other major banks on the previous day. <h2>Kim Forrest's Insight on Companies' Strategic Moves</h2> Kim Forrest, the chief investment officer at Bokeh Capital Partners in Pittsburgh, offered her perspective on the current market situation. She highlighted that many smart companies had shifted towards more reliable fee-based income several years ago. Investors are now evaluating these strategic moves, which have a significant impact on the market. <h2>Citizens Financial and M&amp;T Bank Beat Wall Street Estimates</h2> Citizens Financial (CFG.N) experienced an impressive surge of 6.39%, while M&amp;T Bank (MTB.N) rose by 2.48%, both beating Wall Street estimates for second-quarter profits. Additionally, US Bancorp(USB.N) recovered from earlier losses and climbed 6.46% higher, driven by a substantial 28% increase in quarterly net interest income. <h2>KBW Regional Bank Index Reaches New Heights</h2> The KBW regional bank index (.KRX) performed remarkably well, rising by 2.90% for the third consecutive day. It closed at its highest level since March 10, showcasing the strength of regional banks in the current market conditions. <h2>Dow Jones, S&amp;P 500, and Nasdaq Performance</h2> The Dow Jones Industrial Average (.DJI) surged by 109.28 points or 0.31%, reaching 35,061.21. The S&amp;P 500 (.SPX) showed a gain of 10.74 points, or 0.24%, hitting 4,565.72. Meanwhile, the Nasdaq Composite (.IXIC) slightly added 4.38 points, or 0.03%, reaching 14,358.02. <h2>Nasdaq Hindered by Microsoft's Struggles</h2> While the Dow experienced an eight-day winning streak, the Nasdaq's gains were limited by a 1.23% decline in Microsoft's stock. The setback was due to reports that Apple (AAPL.O) was working on artificial intelligence (AI) offerings. Additionally, Nvidia (NVDA.O) and Alphabet (GOOGL.O) faced losses of 0.88% and 1.40%, respectively. <h2>Carvana's Significant Debt Reduction Deal Leads to a Surge</h2> Carvana (CVNA.N) experienced a substantial surge of 40.20% after reaching an agreement with most of its term bondholders to reduce outstanding debt by over $1 billion. This positive development significantly impacted the company's stock performance. <h2>Mixed Results for Tesla and Netflix</h2> Tesla (TSLA.O) experienced choppy trading after the closing bell, with a 0.46% increase, following a report that its gross margin declined in the second quarter. On the other hand, Netflix (NFLX.O) faced a decline of 4.48% despite beating Wall Street's earnings forecasts. <h2>Expectations for Second-Quarter Earnings</h2> Refinitiv data indicated that second-quarter earnings were expected to have declined by 8.2%, surpassing initial expectations of a 5.7% fall at the beginning of the month. This data raised interest among investors, as they closely monitored earnings reports. <h2>AT&amp;T's Lake Tahoe Cable Decision Leads to Stock Surge</h2> AT&amp;T (T.N) concluded the session with an impressive surge of 8.48% after announcing that it would not immediately remove lead cables from Lake Tahoe pending further analysis. Furthermore, peer company Verizon (VZ.N) also saw a stock increase of 5.27%. <h2>Trading Volume and Market Ratios</h2> Total trading volume on U.S. exchanges reached 10.98 billion shares, surpassing the 10.57 billion average for the last 20 trading days. Advancing issues outweighed declining ones, with a ratio of 2.05-to-1 on the NYSE and 1.32-to-1 on Nasdaq. <h2>Record-Breaking Highs and Lows</h2> The S&amp;P 500 posted 40 new 52-week highs and encountered no new lows. In contrast, the Nasdaq Composite recorded 144 new highs but experienced 60 new lows. This comprehensive analysis highlights the noteworthy performance of bank stocks, the impact of tech giants on the Nasdaq, and the financial market's overall dynamics on a particular trading day. As the markets continue to evolve, investors must keep a close eye on various factors influencing stock movements.

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Stay informed with our report on stocks soaring due to impressive earnings. Dow continues its winning streak for the 8th day.

Earnings Drive Stock Market Rally; Dow Celebrates 8 Days of Positive Performance

US Market Optimism Soars with Earnings Surge; Dow's Winning Streak Reaches 8 Days

Global shares fell, and the dollar weakened on Monday after the data release indicated slower-than-expected growth in the Chinese economy. However, U.S. stocks managed to rise on the anticipation that company earnings would surpass forecasts and the strong likelihood of continued consumer spending. <h2>China's GDP Growth and Mixed Monthly Data</h2> China surpassed expectations in the second quarter, experiencing a notable growth rate of 0.8%, surpassing the estimated 0.5%. This impressive performance reflects the nation's resilience and economic prowess. However, the annual pace of growth slowed more than expected to 6.3%, well below the expected 7.3%. Analysts view this data as an indication that China's post-COVID economic boom is coming to an end. In contrast, concerns in the United States about a severe economic downturn faded earlier this year as slower consumer inflation has brightened the outlook. This positive trend is reflected in the second-quarter results reported by companies. <h2>Optimistic Outlook for U.S. Earnings</h2> Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan, remarked that while companies face a slightly higher hurdle rate compared to the past few quarters, S&amp;P 500 companies have generally been able to surpass the low analyst estimates that were set prior to the current earnings season. Going forward, the market will closely monitor whether demand remains strong and whether the corporate outlook remains positive for the rest of the year. <h2>Anticipated Earnings Reports and Market Reactions</h2> This week, several prominent tech companies and banks are set to release their earnings reports. Major names reporting include Tesla, Bank of America, Morgan Stanley, Goldman Sachs, and Netflix. The stock market showed positive momentum on Wall Street, with the Dow Jones Industrial Average climbing by 0.18%. Similarly, the S&amp;P 500 experienced an increase of 0.20%, while the Nasdaq Composite outperformed with a significant rise of 0.47%. These upward trends indicate a promising outlook for investors and highlight the market's robust performance.<h2> </h2><h2>European Stocks Weaken</h2> In Europe, stocks experienced weakness, with the pan-European STOXX 600 index down by 0.60%. Meanwhile, MSCI's U.S.-centric gauge of stocks globally showed a slight decrease of 0.01%. <h2>Dollar Remains Steady as Investors Await Fed Meeting</h2> The dollar traded relatively flat against a basket of currencies after experiencing its largest weekly decline in 2023 last week due to decreased Treasury yields. Investors eagerly await the Federal Reserve's upcoming meeting, during which a 25 basis points rate hike is widely anticipated. <h2>U.S. Retail Sales Data and Monetary Policy</h2> The main U.S. economic data for the week will be the retail sales figures for June, set to be released on Tuesday. While this data is not expected to impact monetary policy or market direction significantly, it is anticipated to show a rise of 0.3% ex-autos, aligning with the market's favored soft-landing theme. The futures market is pricing in an additional 32 basis points of tightening this year, with the benchmark rate projected to peak at 5.40% in November. As a result, the market feels that the chances of further rate hikes after the conclusion of the two-day meeting of the Federal Reserve on July 26 are slim. <h2>Treasury Yields and Inflation Outlook</h2> U.S. Treasury yields experienced a sharp decline last week due to the moderation in consumer and producer price inflation during June. This decrease has raised expectations of a more dovish monetary policy. The two-year Treasury yield, which is closely associated with interest rate projections, experienced an increase of 1.5 basis points, reaching 4.766%. In a similar vein, the benchmark 10-year note also saw a rise of 1.4 basis points, reaching 3.834%. These movements in yields indicate a shift in interest rate expectations, potentially impacting various financial sectors. <img src="https://cdn.forexoverflow.io/images/1689614596220-ghv3jwe21gkv64r-chinas-faltering-growth-1.png">Image source from Reuters <h2>Sterling Weakens Ahead of UK Inflation Figures</h2> Sterling reversed its course, declining by 0.2% to $1.3089 in anticipation of the release of UK inflation figures this week. If the data indicates higher inflation, the risk of a substantial rate hike by the Bank of England has increased. Analysts at CBA noted that a lift in the core CPI could encourage financial markets to anticipate further tightening from the Bank of England, potentially pushing GBP/USD towards upside resistance at $1.3328. <h2>Oil Prices Drop Due to Weaker Chinese Economic Growth</h2> Oil prices fell more than 1% after the release of Chinese economic growth data failed to meet expectations. The price of US crude oil experienced a decline of 0.74%, settling at $74.86 per barrel. Similarly, Brent crude oil also faced a decrease of 0.81%, reaching $79.22. These downward shifts in crude oil prices suggest a potential adjustment in the energy market, impacting global economic dynamics and influencing various industries reliant on oil. In Summary, global shares experienced a dip due to disappointing Chinese economic data. At the same time, U.S. stocks managed to gain as investors expressed confidence in strong company earnings and continued consumer spending. The anticipation of key earnings reports and the upcoming Federal Reserve meeting have been key factors influencing market sentiment. Investors will closely watch future developments in China, US retail sales data, and central bank policies to gauge the momentum in global financial markets.

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Explore the impact of disappointing China data on global shares as they slip, highlighting the influence of economic indicators on the market.

China Data Disappoints: Global Shares Weaken

Global Shares Slip as China Data Disappoints; U.S. Stocks Rise

Key Highlights <ul><li>Citigroup downgrades U.S. stocks to "neutral" from "overweight"</li><li>China faces deflationary pressure as consumer prices weaken</li><li>Carl Icahn separates personal loans from IEP's share price</li><li>Indexes show mixed results: Dow rises 0.58%, S&amp;P up 0.22%, Nasdaq slips 0.18%</li></ul> According to Reuters reports, on Monday, the S&amp;P 500 and the Dow rebounded, recovering from losses experienced last week. Investors are now eagerly anticipating a crucial inflation report and the comments from several Federal Reserve officials scheduled for this week. These updates will provide insights into the central bank's approach to interest rates. All eyes are on the upcoming U.S. inflation data, expected to be released on Wednesday. This data will play a significant role in shaping the Federal Reserve's interest rate decision later this month. Economists surveyed by Reuters predict that consumer price growth likely slowed down in June. Thomas Hayes, chairman at Great Hill Capital, described the current situation as an "information vacuum" until Wednesday. Citigroup strategists downgraded U.S. stocks to a "neutral" rating, emphasizing that megacap growth is due for a pullback and warning about potential U.S. recession risks. Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley, commented, "This week has the potential to tip short-term momentum either way, depending on how traders react to inflation data (CPI and PPI) and the first batch of Q2 earnings." This week marks the beginning of the second-quarter earnings reporting period, and investors will be assessing the impact of tight monetary conditions and concerns about an impending economic slowdown on businesses. According to Refinitiv data, earnings for S&amp;P 500 constituents are expected to decline by 5.7% in the second quarter. Last week, Wall Street's main indexes ended lower after a jobs report indicated a decline in unemployment for June. However, higher-than-anticipated wage growth suggested a strong labor market. Traders still anticipate a 25 basis points rate hike by the U.S. central bank later this month. However, there is divided opinion on the trajectory of rate hikes for the rest of the year. Big banks such as JPMorgan Chase and Citigroup saw slight gains ahead of their earnings reports scheduled for Friday. At 10:03 a.m. ET, the Dow Jones Industrial Average was up 196.47 points or 0.58% at 33,931.35, the S&amp;P 500 was up 9.58 points or 0.22% at 4,408.53, and the Nasdaq Composite was down 24.73 points or 0.18% at 13,635.98. Among the 11 major S&amp;P 500 sectors, seven advanced in early trading, with industrials leading the gains with a rise of 1.3%. Home Depot was one of the top gainers on the Dow, climbing 1.8% after Jefferies raised its price target on the home improvement retailer. Meta Platforms added 0.7% after founder Mark Zuckerberg announced that 100 million users have signed up on the conglomerate's latest social media platform, Threads. However, most other megacap growth and technology stocks experienced declines, with the FANG index sliding 1.8%. Icahn Enterprises saw a significant jump of 15.5% after the investment firm announced that Carl Icahn and banks have finalized amended loan agreements, which separate the activist investor's personal loans from the trading price of his firm. Chipmakers like Intel and Qualcomm recorded gains of 0.9% and 1.1%, respectively, following U.S. Treasury Secretary Janet Yellen's statement over the weekend. Yellen mentioned that meetings with senior Chinese officials were "direct" and "productive". Advancing issues outnumbered decliners with a ratio of 2.45-to-1 on the NYSE and 2.09-to-1 on the Nasdaq. The S&amp;P index recorded 20 new 52-week highs and four new lows, while the Nasdaq recorded 33 new highs and 24 new lows.

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Brace yourself for the impact of inflation data as the Dow and S&P 500 open higher. Gain insights into market movements and navigate with confidence.

Inflation Data on Horizon: Dow and S&P 500 Rise

Dow and S&P 500 Open Higher Ahead of Inflation Data

• Disappointing May factory orders in the United States fall short of expectations, pointing to potential challenges in the manufacturing sector. • Eagerly anticipated, the Federal Reserve minutes are set to be unveiled at 2:00 p.m. ET, capturing the attention of market participants keen on gaining insights into the central bank's deliberations. • Across the board, the indexes experience a mild downturn, with the Dow declining by 0.16%, the S&amp;P dipping by 0.05%, and the Nasdaq showing a marginal retreat of 0.07%. • Moderna's soaring ascent fueled by a groundbreaking partnership to spearhead the development of mRNA medicines in the vast landscape of China. • The ripple effect of China's stringent export curbs reverberates through the chip stocks market, triggering a downward slide and unsettling investors. On 5 July: Wall Street's primary indices experienced a decline on Wednesday, anticipating the release of the Federal Reserve's June meeting minutes. Investor sentiment was dampened by weak economic data from the United States and China, along with escalating tensions between the two nations. As per the Commerce Department's report, U.S. factory orders rose below the expected level in May, fueling concerns about a potential slowdown resulting from high-interest rates. The manufacturing sector showed a further decline last month. Investors are mainly focused on the Federal Reserve's minutes, which are set to be released around 2 p.m. ET. They are seeking hints regarding the central bank's monetary policy direction. More economic data, including the non-farm payrolls, is scheduled for release later this week, which could influence the trajectory of the Fed's interest rates. According to CME's Fedwatch tool, the probability of a 25-basis-point rate increase in July stands at 88.7%. However, traders have priced in only a 17.7% chance of another hike in September. Quincy Krosby, chief global strategist for LPL Financial, remarked that Federal Open Market Committee Chair Powell has acknowledged the existence of a disagreement within the Fed between the more dovish and the more hawkish factions. Given their consistent campaign of raising rates, this raises the question of why they chose to skip rate hikes during the June meeting. Shares of chip companies Intel (INTC.O) and Micron Technology (MU.O) each declined by 2% after China announced export controls on certain metals widely used in the semiconductor industry. This move adds to the escalating tensions surrounding access to high-tech microchips between Beijing and Washington. The Philadelphia SE Semiconductor Index (.SOX) experienced a decline of 1.4%. Wall Street had a modest start to the new quarter in a shortened session on Monday, following a significant AI-driven rally in the first half of the year. Tesla (TSLA.O) led the gains after the electric-vehicle company reported record second-quarter deliveries. As of 11:46 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 56.47 points, or 0.16%, at 34,362.00. The S&amp;P 500 (.SPX) showed a decrease of 2.44 points, or 0.05%, at 4,453.15, while the Nasdaq Composite (.IXIC) recorded a decline of 9.20 points, or 0.07%, at 13,807.58. By mid-day, eight out of the 11 major sectors of the S&amp;P 500 were experiencing declines. Material shares (.SPLRCM) faced the most significant losses, down by 2.0%. Meta Platforms (META.O) showed a rise of 3.4%, outperforming other mega-cap tech and growth companies, as the launch of its Twitter-rival app, Threads, is expected on Thursday. Danni Hewson, head of financial analysis at AJ Bell, commented that investors are anticipating the potential of Meta's app to be a "Twitter-Killer." United Parcel Service (UPS.N) experienced a decline of 1.5% following accusations between the Teamsters Union and the postal service operator about each other's departure from contract negotiations. Moderna (MRNA.O) rose by 3% after the pharmaceutical company signed an agreement to explore research, development, and manufacturing opportunities for mRNA medicines in China. General Motors (GM.N) gained 1.1% after reporting positive second-quarter U.S. auto sales. The easing of supply chain pressures contributed to the company's performance. On the NYSE, declining issues outnumbered advancers with a ratio of 1.64-to-1, while on the Nasdaq, the ratio was 1.74-to-1. The S&amp;P index recorded 14 new 52-week highs and one new low, while the Nasdaq recorded 37 new highs and 45 new lows.

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Wall Street's main indexes experienced a decline ahead of the Federal Reserve's June meeting minutes. Investor sentiment was impacted by weak economic data from both the U.S. and China, along with rising tensions between the two nations.

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4 articles published related to#us stock market

US Market Optimism Soars with Earnings Surge; Dow's Winning ...

Global Shares Slip as China Data Disappoints; U.S. Stocks Ri...

Dow and S&P 500 Open Higher Ahead of Inflation Data

Unveiling the Tension: Wall Street's Dive as Fed Minutes App...

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