The upcoming week on Wall Street is set to be a busy one, with all eyes on the Federal Reserve’s interest rate decision and the release of key economic data for April. Investors will be eagerly awaiting Fed Chairman Jerome Powell’s press conference for clues on the central bank’s future monetary policy direction.
The Fed is expected to keep interest rates unchanged, but market participants will be closely monitoring any hints of a potential shift in policy. In addition to the Fed decision, the week will also bring important economic reports such as auto sales, ISM manufacturing data, and the US trade deficit figures for March.
On the earnings front, a slew of major companies are scheduled to report their quarterly results, including tech giants like Amazon and Apple, as well as consumer staples companies like Coca-Cola and McDonald’s. The earnings reports will provide insight into the health of the US economy and corporate sector.
Last week, US stocks rose on the back of strong earnings from Big Tech companies, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posting gains. The US dollar strengthened against the Japanese yen, while the euro weakened slightly. Meanwhile, oil prices edged higher, with both benchmark crude and Brent crude seeing modest gains.
As the week unfolds, investors will be keeping a close watch on market developments and economic indicators for further clues on the direction of the US economy and financial markets. Stay tuned for updates on Wall Street’s performance and the latest news impacting global markets.
