What's happened
US stock indexes closed mixed on July 29, 2024, as investors awaited significant earnings reports and economic data. Major companies like Apple, Microsoft, and Amazon are set to report their second-quarter results this week, while the Federal Reserve's FOMC meeting is anticipated to maintain interest rates unchanged.
Why it matters
What the papers say
According to Business Insider UK, US stock indexes closed mixed as investors prepared for a wave of earnings reports, with significant companies like Apple and Microsoft set to report. The article highlights that 81% of S&P 500 companies that have reported so far have beaten profit estimates. Meanwhile, Axios notes that Biden's withdrawal from the presidential race has not significantly impacted market sentiment, as investors remain focused on economic data and earnings results. The New York Times emphasizes the uncertainty in markets as investors reassess strategies following Biden's decision, indicating a potential shift in the political landscape that could affect economic policies.
How we got here
The US stock market has been volatile recently, influenced by earnings reports and economic indicators. President Biden's withdrawal from the re-election campaign has added uncertainty, but markets have shown resilience amid expectations of a favorable earnings season.
Common question
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Why did President Joe Biden drop out of the 2024 race?
President Joe Biden's unexpected withdrawal from the 2024 presidential race has left many wondering about the reasons behind this decision and its implications. Let's delve into the factors that led to Biden's exit and explore the potential impact on the upcoming election.
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What Can We Expect from Tesla and Alphabet's Second Quarter Performance?
As investors eagerly await Tesla and Alphabet's second-quarter earnings reports, the tech sector is abuzz with anticipation. Let's delve into the key factors driving interest in these tech giants' financial performance.
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What Are the Latest Trends in the US Stock Market Ahead of Earnings Reports?
As the US stock market braces for a wave of significant earnings reports, investors are keenly observing trends and potential impacts on their portfolios. With major companies like Apple, Microsoft, and Amazon set to announce their second-quarter results, many are wondering how these reports will shape market sentiment. Additionally, President Biden's recent withdrawal from the presidential race adds another layer of uncertainty. Here are some common questions investors are asking as they navigate this volatile landscape.
More on these topics
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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Joseph Robinette Biden Jr. is an American politician who is the 46th and current president of the United States. A member of the Democratic Party, he served as the 47th vice president from 2009 to 2017 and represented Delaware in the United States Senate
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Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. The company specializes in electric vehicle manufacturing, battery energy storage from home to grid scale and, through its acquisition of SolarCity, solar
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The Democratic Party is one of the two major contemporary political parties in the United States, along with its main rival, the Republican Party.
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Kamala Devi Harris is an American attorney and politician who has served as the junior United States Senator from California since 2017.
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The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the m
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An alphabet is a standardized set of basic written symbols or graphemes that represent the phonemes of certain spoken languages.