2Q earnings results weigh on markets

From the desks of Stanley Katz & Lauren Madera

STAY SAFE & HAVE FUN!

For the second week in a row, the three major US stock market indices posted mixed results (i.e., DJIA: +0.75%, S&P 500 -0.83%, Nasdaq -2.08%). Lower 2Q2024 earnings were largely to blame for stocks that pulled back. In addition to what appears to be a slowing US economy, reverberations from China’s interest rates cuts may influence our Federal Reserve’s next interest rate move in September. As Schwab’s Weekly Traders Outlook states, stay tuned for more stock market volatility.

Although we may see continued market volatility, BlackRock believes that technology stocks may still lead the charge by meeting or beating expectations, despite their lofty earnings estimates. Is that realistic, or are the Mag 7 already priced to perfection? Click the BlackRock link below for their in-depth analysis.

Below are links to a number of third-party research reports that we have read and analyzed over the past week. We hope you will find the information interesting, useful, and worthwhile.

Schwab:

• Recent Volatility in Stocks Likely to Persist Next Week

BlackRock:

• Tech still likely to deliver on earnings

Argus:

• Market Turmoil as Election Weighs

Lord Abbett:

• Charting a Course for Success in Global Equities

J.P. Morgan Asset Management:

• Could the U.S. small cap rotation continue?

Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500

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