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The Nasdaq is flat at the moment, with investors preparing for a busy week of earnings.
Next week, more than 150 S&P 500 companies will post quarterly numbers, including Meta Platforms and Apple.
Next week is also when the Federal Reserve is scheduled to meet once again. Policymakers are widely expected to keep interest rates at their current target range of 4.25% to 4.5%. Others are hoping the central bank will give some indication of when they’ll cut interest rates.
The Nasdaq could see its fifth consecutive week of gains, achieving an incredible record close. This marks the index’s longest winning streak since late 2021. All thanks to earnings and growing optimism with trade deals.
Live coverage has ended. The full story is below.
Stock futures are inching higher, with the Nasdaq at another record high.
Fueled in part by Alphabet’s stronger-than-expected earnings report and further hopes for more trade deals, the Nasdaq could go on to test higher highs.
Regarding the trade deals, the recent U.S.-Japan trade agreement has tariffs now set at 15% instead of the previously threatened 25%. In return, Japan will invest $550 billion in the U.S. and open its domestic market to more U.S. exports, such as cars and farm products.
There’s even a potential U.S.-European Union deal on the table that could establish 15% tariffs on most EU imports. Plus, according to the European Union, it believes a trade agreement is “within reach” ahead of the August 1 deadline.
Next week, the Federal Reserve is scheduled to meet again, with some hoping the central bank will cut interest rates, while others expect it to keep interest rates at their current target range of between 4.25% and 4.5%.
Last night, Intel’s second-quarter revenue of $12.86 billion topped the $11.92 billion analysts were expecting. Its third-quarter revenue guidance also beat expectations.
Deckers’ EPS of 93 cents on revenue of $965 million beat estimates calling for EPS of 68 cents on sales of $901 million in revenue.
Mining company, Newmont, posted adjusted earnings of $1.43 per share and revenue of $5.32 billion. Estimates called for $1.16 per share in earnings and $4.85 billion in revenue.
Boston Beer’s second-quarter earnings per share blew past the Street’s forecast. The company posted $5.45 per share, while analysts anticipated $3.83 a share. Revenue for the quarter came in at $587.9 million, which was just outside the estimate for $589 million.
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Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
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