5 things to know before the stock market opens Monday
- Stocks rose last week on expectations for a Federal Reserve rate cut, and Fed Chair Jerome Powell indicated the central bank would ease policy soon.
- A busy week of earnings will include market engine Nvidia and major retail names like Best Buy and Abercrombie & Fitch.
- The Boeing Starliner capsule will come back to Earth empty, and the astronauts it carried into orbit will return on a SpaceX craft.
Here are the most important news items that investors need to start their trading day:
Stocks jumped last week as investors looked toward an expected interest rate cut in September. Federal Reserve Chair Jerome Powell bolstered a solid run for stocks when he indicated the central bank would ease borrowing costs soon. All three major U.S. indexes gained more than 1% for the week and notched their second straight positive week. Economic data due this week includes jobless claims Thursday and personal consumption expenditures on Friday. Follow live market updates here.
A busy week of earnings ahead will help to shape stocks. One key report will come Wednesday from market engine Nvidia. It's also a jammed week for retail, including results from Abercrombie & Fitch, whose shares have been on a torrid run. The reports come as investors look for reads on the health of consumer spending. Here are some reports to watch this week:
- Tuesday: Nordstrom (after the bell)
- Wednesday: Foot Locker, Abercrombie & Fitch (before the bell); Nvidia, Salesforce.com (after the bell)
- Thursday: Best Buy, American Eagle (before the bell); Ulta Beauty, Lululemon, Gap (after the bell)
Boeing's Starliner capsule will come back to Earth empty. The NASA astronauts the craft delivered to orbit will remain at the International Space Station for six more