Published on 24 Jul 2023 on Zacks via Yahoo Finance
Take the Zacks Approach to Beat the Market: NVIDIA, Oracle, Celsius in Focus
The performances of the three most widely followed indexes were mixed last week. The Nasdaq Composite declined 0.6%, while the S&P 500 and the Dow Jones Industrial Average gained 0.7% and 2.1%, respectively. Last Friday was the tenth straight session that the Dow finished in the green, a trend it has not achieved in more than six years.
Better-than-expected earnings numbers reported through the week kept investor mood upbeat. However, a resilient labor market made market participants nervous because it would not deter the Federal Reserve from its path of further monetary policy tightening. This expectation of continued interest rate hikes, coupled with data from various sectors showing a gradual slowdown, added to recession fears.
Investors’ eyes would keenly be on the July FOMC meeting slated for this week. The market expects at least a 25 bps hike in interest rates from the Fed.