The stock market closed lower last Friday, ending the worst week for the S&P 500 since mid-April. This decline was influenced by a global IT outage caused by a Crowdstrike update that disrupted computers running Microsoft’s Windows operating system.
As investors look ahead to the coming week, the focus will be on upcoming earnings reports from Tesla and Alphabet, as well as economic data releases. Mega-cap tech earnings results, the June Core PCE inflation data, and the second-quarter GDP print will also be closely monitored.
Throughout the week, major companies have been reporting their second-quarter earnings, with many surpassing profit and revenue estimates. Netflix reported strong revenue, profits, and subscriber growth in their second-quarter earnings report, but the stock still fell about 2% due to somewhat weak third-quarter guidance.
In the commodities, bonds, and crypto markets, West Texas Intermediate crude oil was down, gold prices fell, the 10-year Treasury yield rose, and Bitcoin saw an increase.
As we continue to navigate the ups and downs of the market, it’s important for investors to stay informed and remain aware of key events that may impact their investment decisions. Keep an eye on the latest market updates and be prepared for potential shifts in the coming weeks.
Stay tuned to Extreme Investor Network for more insights and analysis on the latest financial news and trends to help you make informed investment decisions.