A Potentially Pivotal Week for the 2024 Bull Market
A Potentially Pivotal Week for the 2024 Bull Market: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- A Potentially Pivotal Week for the 2024 Bull Market
- Weekly Market Preview: Important Updates on Growth, Rate Cuts and AI Enthusiasm
- Weekly Economic Cheat Sheet: Jobs Report Friday, Fed Wednesday.
Futures are solidly higher on momentum from Friday’s rally and following a mostly quiet weekend of news, as investors look ahead to an important week for economic growth, rate cut expectations and mega cap tech earnings.
Geopolitically, tensions increased between Israel and Hezbollah following an attack in the Golan Heights and subsequent Israeli retaliation, but for now it’s not moving oil markets.
This week will give us a lot of color on the state of economic growth and a check on market rate cut expectations, but the important events don’t start until tomorrow (MSFT & AMD earnings) as there are no notable economic reports today.
Looking deeper at earnings, about 40% of the S&P 500 reports this week, including several major mega-cap tech stocks, but those important reports don’t start until tomorrow. Today, we’ll be watching: MCD (E: $3.08), ON (E: $0.92) and SFM (E: $0.77).
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