Market views heading into the week highlight what we're watching and important news ahead.
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Truist Advisory Services, Inc.
A look back
Stocks fell across the board last week, while the rotation into small caps was unwound some too. The S&P 500 fell 2% while the S&P 600 Small Cap Index dropped over 5.5% on the week.
After the Fed meeting and labor data on Friday, U.S. Treasury yields dropped precipitously; the 2-year yield fell by more than 0.5%.
The July jobs report showed fewer jobs were added during the month than many had been expecting, with 114,000 payrolls added. The unemployment rate also ticked up to 4.3% while wages cooled to an annual rate of 3.6%.
A look ahead
The Paris Olympics will end this week with viewership up compared to the past two events.
Some media, travel, and restaurant companies will report earnings this week which will shed light on how the consumer is doing.
A light economic data week will allow a few Fed officials to get out into the media to express how they are thinking about the future rate path after last week’s meeting.
Economic Releases: ISM Services, Trade Balance, MBA Mortgage Applications, Initial and Continuing Jobless Claims.
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