US stocks will be looking to bounce back after a bit of a hiccup last week. Tech shares saw its worst showing since April with the Nasdaq erasing its monthly gains for July. So far today, we are seeing a calmer mood but it is still early in the day. S&P 500 futures are up some 0.4% while Nasdaq futures are up 0.6% currently.
For the week itself, all eyes will be on earnings releases for two of the Magnificent Seven.
Both Alphabet (Google) and Tesla will be reporting after hours tomorrow and they will be key ones to watch in determining the mood music for broader market sentiment this week.
After last week’s drop, the S&P 500 is still up 0.8% on the month as it hopes to keep up its July hot streak since 2015.
This article was written by Justin Low at www.forexlive.com.
