Stocks experienced a weekly gain, with technology stocks driving the rally, following an unexpected job loss in July, which led some investors to speculate that the Federal Reserve may delay interest rate hikes. Key inflation indicators, the Consumer Price Index (CPI) and the Producer Price Index (PPI), will be released on August 12 and 13, respectively, potentially influencing market expectations.
Key corporate earnings reports are also anticipated next week. Notable performances include AbbVie (NYSE: ABBV) and Advanced Micro Devices (NASDAQ: AMD), with the latter reporting a beat-and-raise quarter despite conservative guidance. Boeing (NYSE: BA) received crucial approval from the U.S. Federal Aviation Administration (FAA), adding to revenue anticipation. Meanwhile, Palantir Technologies (NASDAQ: PLTR) saw its stock surge over 30% after a strong earnings report.
The S&P 500 index reported a gain of approximately 1.2% over the week, indicating investor optimism. However, volatility persists in certain sectors, including drone stocks that have experienced recent declines due to valuation concerns amidst a $1.5 trillion Pentagon budget boost.
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