Earnings and Fed decision key focus amid political uncertainty – Freedom Capital Markets [Video]

Jay Woods of Freedom Capital Markets reports on the market and political situations. Over the weekend, President Biden announced he would not be running for re-election, with Vice President Harris stepping in for now. With four months until the final election and one month until the Democratic National Convention, political uncertainty remains high.

Despite this, the market’s focus remains on earnings and the Federal Reserve’s decisions. This Thursday, the Personal Consumption Expenditures (PCE) index, the Fed’s preferred measure of inflation, will be released. This data will be crucial in determining whether the Federal Reserve will implement a rate cut in September. If the PCE numbers align with expectations or show cooling inflation, a rate cut is anticipated.

In addition to the Fed’s decision, several significant earnings reports, including those from Google and Tesla, are expected this week. Woods emphasizes that, despite the political backdrop, market attention will primarily be on earnings and the Fed.

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