- Stocks dipped Monday ahead of a big week of tech earnings and a Federal Reserve meeting.
- The
Fed is expected to announce another 75-basis-point rate hike on Wednesday.
US stocks dipped Monday ahead of a packed week that includes a Fed meeting, key economic data, as well as earnings from Alphabet, Amazon, Apple, and Microsoft.
The Fed will wrap up its meeting on Wednesday and is expected to announce another 75-basis-point rate hike. Investors also will be monitoring second-quarter gross domestic product data on Thursday, and whether or not it shows evidence of a technical recession, or two consecutive quarters of decline.
Larry Summers said a $4 as the market braces for weak second-quarter growth figures.
Here's where US indexes stood as the market opened 9:30 a.m. on Monday:
- S&P 500>$4: 3,955.53, down 0.15%
- Dow Jones Industrial Average>$4: 31,869.70, down 0.9% (29.59 points)
- Nasdaq Composite>$4: 11,798.21, down 0.30%
According to Bank of America, stocks have limited upside in the short term due to depressed sentiment, and the start of a new bull market will $4.
Meanwhile, Google cofounder Sergey Brin may be set to rake in over $4, after he put $500,000 into Elon Musk's automaker before it went public.
Overseas, China could boost the status of the yuan if it were to take on more US dollar reserves, as it would $4 to use the renminbi, a new paper argues.
Oil inched higher, with $4 up 1.30% to $96.11 a barrel. $4, the international benchmark, moved higher 1.16% to $104.38 a barrel.
$4 edged lower 0.33% to $1,721.30 per ounce. The $4 rose 5.9 basis points to 2.838%.
$4 slipped 3.39% to $21,974.41.