Published on 6 May 2024 on Benzinga
Wall Street Looks To Extend Rally Amid Caution Over Fed Speeches, More Earnings: Why This Analyst...
U.S. stocks are likely to extend their gains as major index futures are modestly higher on Monday. Strong earnings reports continue to support the market, with S&P 500 earnings expected to grow by 5% year-over-year — the highest rate since Q2 2022. The possibility of rate cuts has re-emerged, making this week’s flurry of Fed speeches potentially market-moving events. Analysts are confident the upward momentum will continue after a slow April, with the typical strength seen in election years (over the next three months) likely aiding the rally.
Cues From Previous Session