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After a volatile week marked by the intersection of economic growth, Bitcoin and politics, this week will be focused on what happens next.
Chipmakers partnering with Nvidia achieve highest profits in six years
Investors will be keeping an eye on tech giants’ earnings, the performance of the cryptocurrency market, and the Fed chairman’s comments on interest rate cuts.
Let’s see what happens now:
Will the Federal Reserve lower interest rates?
The Federal Open Market Committee (FOMC) is scheduled for Wednesday, and there are reports that the Fed may cut interest rates during the meeting. Fed Chairman Jerome Powell is scheduled to speak after the meeting and announce any decision.
Tech giants report earnings
Like last week, major technology companies are scheduled to report their financials this week: Microsoft and Advanced Micro Devices report after the close on Tuesday, Meta reports after the close on Wednesday, and Apple and Amazon report after the close on Thursday.
Other important earnings to note
On Monday, McDonald’s will report earnings before the market opens. Airbus and JetBlue will report on Tuesday, and Boeing on Wednesday. On Thursday, cryptocurrency-related companies such as Coinbase and MicroStrategy will report earnings. Berkshire Hathaway will report earnings on Friday.
Focus on the cryptocurrency market
It will be interesting to see how the crypto market performs this week, as former President and Republican candidate Donald Trump’s speech at the Bitcoin Conference could affect crypto prices, as well as the performance of the spot Ethereum ETF and the speech of Federal Reserve Chairman Jerome Powell.
Other noteworthy macroeconomic reports
The Consumer Finance and Jobs reports are due out on Tuesday, followed by the ADP Employment Report on Wednesday, and the U.S. Employment Report and unemployment rate on Friday, which will give an indication of the direction of the economy and whether the Fed is ready to cut interest rates.
