The Fed’s FOMC meeting, Powell’s press conference, big tech earnings and developments in the Iran war will be in focus this week. Apple is in the spotlight with strong earnings and guidance expected this week. ExxonMobil faces headwinds related to possible policy and geopolitical weaknesses.
U.S. stocks ended mostly higher on Friday, with the index and Nasdaq Composite hitting new highs as investors weighed signs of progress in U.S.-Iran peace talks, while a rise in Intel shares added further support.
Source: Investing.com
For the major averages, however, the week was mixed. The S&P 500 ended up about 0.6%, while the Nasdaq and small-cap Russell 2000 rose 1.5% and 0.4%, respectively. The Dow Jones Industrial Average, however, recorded a decline of 0.4%.
The blockbuster week ahead is expected to be a busy one, filled with several potentially market-moving events, including a key Federal Reserve policy meeting, as well as a flurry of important technology results.
The US central bank is virtually certain to keep interest rates unchanged at the latest meeting chaired by its President Jerome Powell. The big question now, which Powell could answer at his news conference on Wednesday, is whether he intends to remain on the Fed Board of Governors until his term expires in February 2028.
Source: Investing.com
Besides the Fed, next week will also feature noteworthy economic reports, including first-quarter GDP data, as well as the core PCE price index, which is the Fed’s preferred measure of inflation.
Meanwhile, earnings season is in full swing, with five of the Magnificent Seven tech stocks expected to report their latest results this week. Alphabet, Microsoft and Meta Platforms will submit their report on Wednesday evening, while it is expected Thursday evening.
Source: Investing.com
These mega-caps will be joined by other big names like Eli Lilly, Chevron, Visa, Mastercard, UPS, Caterpillar, General Motors, Ford, Verizon, Coca-Cola, Starbucks, SanDisk, Qualcomm, Robinhood and Reddit.
Investors will also continue to monitor developments in the Middle East and oil prices in the context of the current crisis…
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