{"id":1987220,"date":"2023-07-31T19:14:02","date_gmt":"2023-07-31T23:14:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-holds-gains-ahead-of-earnings-jobs-data\/"},"modified":"2023-07-31T19:17:02","modified_gmt":"2023-07-31T23:17:02","slug":"wall-street-holds-gains-ahead-of-earnings-jobs-data","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-holds-gains-ahead-of-earnings-jobs-data\/","title":{"rendered":"Wall Street maintains gains before earnings, jobs data."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-holds-gains-ahead-of-earnings-jobs-data%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1987220&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>Wall \u2062Street and Global Stocks Edge Up as Traders Look Ahead to \u2062Earnings and Employment Report<\/strong><\/p>\n<p>By Lawrence Delevingne<\/p>\n<p>(Reuters) &#8211; Wall Street and global stocks \u2064edged up on Monday while <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asian-shares-rise-oil-extends-gains-after-opec-deal\/\" title=\"Asian shares rise, oil extends gains after OPEC+ deal\">oil prices gained<\/a> and the \u2063dollar was little \u2064changed, as traders looked \u2064ahead to corporate earnings and a key employment report due this week.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The Dow \u2062Jones \u2064Industrial Average rose 0.28% to 35,560.19, the S&#038;P 500\u200d gained 0.15% to 4,589.15 and the Nasdaq Composite added 0.21% to 14,346.02.<\/p>\n<p>Apple Inc and Amazon.com both report on Thursday, while other well-known names \u200dwith results due include Caterpillar Inc, Starbucks Corp and Advanced Micro Devices. \u2063 <\/p>\n<p>European shares gained modestly after euro zone inflation fell\u200b further in July seeing that most measures of underlying price growth also eased. Markets took this as a comforting sign for the European Central Bank (ECB) as it \u200cconsiders ending a brutal string of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chair-no-interest-rate-hikes-until-inflation-spike\/\" title=\"Federal Reserve Chair: No interest rate hikes until inflation spike\">interest rate hikes<\/a>. <\/p>\n<p>The pan-European STOXX 600 index \u2063rose\u200d by 0.12%, a second consecutive\u200b monthly gain. MSCI\u2019s gauge\u200c of\u200c stocks across the globe gained 0.15%.<\/p>\n<p>The modest gains came despite China\u2019s manufacturing activity falling for a fourth straight month in July, as demand remained weak at home and abroad, official\u2063 surveys showed on Monday.   <\/p>\n<p>\u201cMarkets are treating information with a lot more \u2062sensitivity and people\u2064 are \u2062looking into new information with a detailed\u2062 eye,\u201d said Florian Ielpo, head of macro at Lombard Odier\u2064 Investment Managers. <\/p>\n<h2>Eyes on the Horizon<\/h2>\n<p>Economic indicators that investors will \u2064be watching this week include the\u200d U.S. ISM surveys on manufacturing and \u2063services, as well as the July payrolls report. <\/p>\n<p>\u201cData \u2064out this week should remain superficially consistent with the \u2018soft\u2062 landing\u2019 narrative,\u201d Citi market strategists wrote in a note.\u200b \u201cBut the potential return to upside surprises to job growth would raise questions about whether slowing inflation can coexist\u2063 with \u200ctight labor markets.\u201d <\/p>\n<p>All three main U.S. indexes have posted recent gains as signs of cooling inflation and a resilient economy\u2064 have eased investor sentiment about the economy surviving amid higher rates for longer.  <\/p>\n<p>Upbeat quarterly earnings from megacap growth companies including Alphabet and Meta Platforms as well as chipmakers Intel \u200band Lam Research \u200dhave also\u2063 boosted investor sentiment.<\/p>\n<p>Almost 30% of the S&#038;P 500 reports results this week. The index is now up nearly 20% for the year.<\/p>\n<p>Paul Christopher, \u200dWells Fargo \u200cInvestment Institute\u2019s \u2062head\u200c of global investment strategy, urged caution given the potential for a weaker economy, slower disinflation and narrower corporate \u200dprofits.<\/p>\n<p>\u201cThis year\u2019s impressive equity rally has been driven by strong \u2062sentiment, without either the earnings growth or the directional improvement in economic data\u200c to justify current market multiples and valuations,\u201d\u200b Christopher wrote\u200b in a note.<\/p>\n<h2>Rising Rates<\/h2>\n<p>Chicago Federal Reserve Bank President Austan Goolsbee on Monday said the U.S. central bank is \u201cwalking the line pretty well\u201d \u200don bringing inflation down without causing a recession, and will watch the data as September approaches to judge\u200d if more monetary tightening may be appropriate.<\/p>\n<p>The Bank \u200dof England\u200b is widely expected to raise rates by at least a \u2062quarter point. Traders cut bets on a continuing rally in \u200bthe pound by the\u2062 most since mid-June ahead of\u2064 the Bank of\u2062 England rate decision on Thursday. <\/p>\n<p>Sterling has surged 24% from a record low of $1.033 against the dollar in September after a disastrous budget, hitting a 15-month high of $1.314 in mid-July. <\/p>\n<p>The dollar edged higher on Monday\u2062 after\u2063 a survey from the Federal Reserve showed U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-holds-gains-ahead-of-earnings-jobs-data\/\" title=\"Wall Street maintains gains before earnings, jobs data.\">banks reported tighter credit standards<\/a>\u2063 and weaker\u2064 loan demand during\u200c the second quarter, a sign rising interest rates are having an impact on the economy.<\/p>\n<p>The Japanese yen weakened about \u200b0.8% versus the dollar. Investors continued to digest\u200b Friday\u2019s decision \u200cby the Bank of Japan\u200b (BOJ) to lift the lid on bond\u2062 yields in a step away from its\u2063 ultra-easy policies. \u2064 <\/p>\n<p>Japanese 10-year yields surged to a nine-year high \u2064up to 0.6% on Monday, and toward the new cap of\u200c 1.0%. <\/p>\n<p>U.S. Treasury yields were marginally lower, with investors waiting for employment data to assess the impact of\u2064 the Fed\u2019s monetary tightening campaign on the economy. The 10-year was down 1\u2063 basis\u2063 point at 3.961%. <\/p>\n<p>In\u2062 commodities, gold prices rose, putting them on track for\u2063 their best month \u200din four, helped by a weaker dollar and expectations that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/japan-is-chasing-its-tail-on-yen-intervention\/\" title=\"Japan is chasing its tail on yen intervention\">major global central banks<\/a> are nearing a peak with \u2064interest rate hikes. Spot gold added\u200c 0.3% to $1,965 an ounce [GOL\/]\n<p>Oil prices \u200drallied \u2063to \u2063a fresh three-month high and recorded \u2064their steepest monthly gains since January 2022, supported by \u200bsigns of tightening\u200c global supply and rising demand through the rest of this \u200dyear.<\/p>\n<p>U.S. crude\u2064 rose 1.63% to $81.89 per barrel and Brent was\u200d at $85.56, up 0.67% on the day.<\/p>\n<p>  (Reporting by Lawrence\u2064 Delevingne in \u200cBoston and Nell Mackenzie in London; Editing by Nick Macfie, Will Dunham and Deepa Babington)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/european-stocks-stoked-by\/attachment\/traders-work-on-the-floor-of-the-nyse-in-new-24\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Major Scott A. Heusing Rides Across the Country to Raise Awareness for Veteran Suicide<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Hunter Biden\u2019s Former \u2064Business Partner Testifies Behind Closed Doors to House Oversight\u2064 Committee<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>&#8216;Open the Books&#8217; Founder Adam Andrzejewski Supports Senator Rand Paul&#8217;s Amendment for Public Disclosure of Loyalty Payments\u200d to\u200b Federal Workers<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Republican Congressman\u2063 Dan Meuser Criticizes Bidenomics at President Donald Trump&#8217;s Rally in Erie, Pennsylvania<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Italy&#8217;s AGCM Competition Watchdog Accepts Google&#8217;s Commitments\u200d to End&#8230;<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>U.S. Securities and Exchange Commission (SEC) \u200dAsks Coinbase to Stop\u200c Trading in All Cryptocurrencies Except Bitcoin<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Japan&#8217;s Tourism Resurgence Boosts Seibu&#8230;<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Foxconn Signs Agreement with India&#8217;s Tamil Nadu to Invest&#8230;<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street and global stocks rose slightly as traders anticipated corporate earnings and a crucial employment report. The Dow Jones Industrial Average increased by 0.28% to 35,560.19, while the S&amp;P 500 gained 0.15% to 4,589.15. Oil prices also saw an uptick, and the dollar remained relatively stable.<\/p>\n","protected":false},"author":66,"featured_media":1987221,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1987220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1987220"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1987220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1987221"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1987220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1987220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1987220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}