Company / Analytics

Analytics, 01 July 2024

What will drive the markets this week?

U.S. stocks ended lower on Friday as an early rally lost momentum, with investors absorbing inflation data that met expectations and assessing political uncertainty following the U.S. presidential debate. The Dow Jones Industrial Average decreased by 41.12 points, or 0.11%, to close at 39,122.94. The S&P 500 fell by 22.57 points, or 0.41%, to 5,460.30, while the Nasdaq Composite dropped 126.08 points, or 0.71%, to 17,732.60.

In Europe, stocks relinquished early gains to end lower on Friday, with shares of beauty giant L’Oreal dragging the market down. The pan-European STOXX 600 fell 0.2%, marking its fourth consecutive session of losses.

In the currency market, the Japanese yen weakened to fresh 38-year lows on Friday, crossing the 161 mark against the dollar for the first time since 1986 and reaching a high of 161.27, according to LSEG data.

Despite the Independence Day holiday on Thursday shortening the trading week, investors will still receive significant data on Friday with the release of the U.S. jobs report. Additionally, Federal Reserve Chair Jerome Powell will speak at an international conference before releasing the minutes from the Fed’s June meeting.

Market analysts will also be paying attention to data on the manufacturing and services sectors and the earnings report from beer maker Constellation Brands.

Events expected to move the markets this week

Monday, July 1

Tuesday, July 2

Wednesday, July 3

Thursday, July 4

Friday, July 5

Choose one or several trading platforms and achieve your goals with Investors Europe

Investors Europe (Mauritius) Limited is authorised and regulated by the FSC Mauritius, license C112011088. Registered address: 4th Floor, Les Jamalacs Building, Vieux Conseil Street, Port-Louis 11328, Republic of Mauritius. Registered Number: 113933.

Any information contained on this website is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Investing in certain instruments, including stocks, options, futures, foreign currencies, and bonds involve a high level of risk. Trading on margin comes with substantial risk as well. You must be aware of these risks before opening an account to trade. The income you may get from online investing may go down as well as up.