Company / Analytics

Analytics, 24 July 2023

What will drive the markets this week?

On Friday, the U.S. stock market closed with a mixed performance. The Dow Jones Industrial Average saw a slight increase, securing its 10th consecutive day of gains, marking its longest winning streak in nearly six years. Procter & Gamble and Chevron played a significant role in driving the blue-chip index higher, both enjoying gains of more than 1%. The Dow Jones is now up by over 6% in 2023, while the broader S&P 500 index has risen by 18% during the same period.

In Europe, shares ended the week on a positive note, except for German stocks, which lagged due to SAP’s negative revenue forecast. The tech sector in Europe experienced its most substantial weekly drop this year as a result.

Across Asia-Pacific markets, Friday’s performance was mixed as investors analyzed Japan’s consumer price index figures for June. The country’s core inflation rate, excluding the cost of fresh food, came in at 3.3%, meeting the expectations of economists polled by Reuters, according to official data.

This week holds several significant events and reports. Federal Reserve officials will meet for a two-day policy meeting starting on Tuesday, and the market awaits their interest rate decision on Wednesday.

It also will be a busy week for earnings season, with major tech companies such as Microsoft, Meta Platforms (formerly Facebook), and Google parent Alphabet scheduled to release their financial reports. Alongside them, other notable companies like Visa, Mastercard, Texas Instruments, Coca-Cola Company, McDonald’s, Boeing, AT&T, Verizon, Ford Motor Company, Chevron, and ExxonMobil will also be reporting their earnings.

On Thursday, the advance estimate for the second-quarter gross domestic product (GDP) will be made public, providing valuable insights into the current state of the economy. Following this, on Friday, the release of the Personal Consumption Expenditures (PCE) Price Index will be closely monitored, as it serves as the Federal Reserve’s preferred measure of inflation.

Throughout the week, there will be updates on home prices, as well as new and pending home sales data for June, providing further information about the real estate market and its trends.

Events expected to move the markets this week

Monday, July 24

Tuesday, July 25

Wednesday, July 26

Thursday, July 27

Friday, July 28

Choose one or several trading platforms and achieve your goals with Investors Europe

Open Account

Investors Europe (Mauritius) Limited is authorised and regulated by the FSC Mauritius, license C112011088. Registered address: 4th Floor, Les Jamalacs Building, Vieux Conseil Street, Port-Louis 11328, Republic of Mauritius. Registered Number: 113933.

Any information contained on this website is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Investing in certain instruments, including stocks, options, futures, foreign currencies, and bonds involve a high level of risk. Trading on margin comes with substantial risk as well. You must be aware of these risks before opening an account to trade. The income you may get from online investing may go down as well as up.