![]() ![]() Volume remained below normal Friday on the New York Stock Exchange, continuing a trend of light trading, and advancers led decliners despite major indexes losing ground. ![]() Energy shares enjoyed the best performance on Friday thanks to a rise in crude oil prices fueled by investor enthusiasm for potential production cuts by OPEC. The Nasdaq Composite (COMP) lost 0.9% for the week. ![]() ![]() Last week, the SPX fell 1.2%-only the second weekly decline in the past two months. Forward valuations (price-earnings) are high on a historical basis near 19, but the bar is low for companies to exceed Wall Street’s forecasts. The first week of earnings season gets underway with the S&P 500® Index (SPX) up 7% since the start of the previous earnings season in April, but analysts expect a 7.2% drop in year-over-year earnings per share (EPS) for Q2, according to FactSet. (Monday market open) A vital week on Wall Street packed with summer fireworks begins quietly today with investors bracing for fresh inflation data Wednesday and big bank earnings Friday. Key data week on the way with consumer, producer price indexes to deliver latest inflation readsĮarnings season begins later this week as airlines, big banks begin reporting and analysts set low bar After losing ground last week, market has soft tone early Monday with tech under pressure. ![]()
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