The Dow and S&P 500 eased on Thursday (August 7), as shares of Eli Lilly dropped after data from its oral weight loss drug disappointed, while Nasdaq ended slightly higher.
00:00Wall Street's main indexes ended lower on Monday as investors anxiously await inflation data this week to assess the outlook for interest rates and IUS-China trade developments.
00:11Investors expect the recent shakeup at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism.
00:23July's consumer inflation report is due on Tuesday. An investor anticipates that the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG.
00:35Stocks are down today. There's still a little bit of uncertainty around the macro backdrop, right?
00:41Tariffs, you had kind of some headlines about whether gold would be under tariffs.
00:46You had some mixed news around semiconductors and the new pretty unusual kind of collaboration, if you want to call it that, between AMD and NVIDIA and the U.S. government.
00:59So I think markets, again, sitting right near all time highs. Sentiment has caught up to price.
01:05So there's a higher bar to clear. And I think some of these headlines are enough to give the market pause this morning to start the week.
01:10So on earnings, it's been pretty unequivocally a great earnings season, beating at a high rate, negative pre-announcements, actually better than average.
01:22You know, the one thing that I would note is that the companies that missed on the top and bottom line have been really, really punished.
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