Market views heading into the week highlight what we're watching and important news ahead.
Investment Advisory Group
Truist Advisory Services, Inc.
A look back
The S&P 500 fell 0.8% last week while small and mid cap stocks outperformed for a third-straight week. International developed markets continued lower last week, falling nearly 1.0%.
After a volatile week, U.S. Treasury yields finished lower as the 10-year yield fell 0.04% and the 2-year fell 0.12%.
Second quarter U.S. GDP growth came in well-above expectations at an annualized rate of 2.8%. The Personal Consumption Expenditures (PCE) price index was in line with expectations and unchanged from the prior month.
A look ahead
Second quarter earnings have been reported for 41% of the S&P 500 and an additional 33% are scheduled for this week. Year-over-year earnings growth in aggregate has come in above expectations thus far.
The Federal Open Market Committee (FOMC) meeting will take place before a key jobs report later in the week. Expectations are for the Federal Reserve (Fed) to leave rates unchanged.
Economic Releases: Consumer Confidence, S&P Global U.S & ISM Manufacturing, Job Openings, Unemployment Rate.
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