The past week has been a record run for the New York Stock Exchange. All three major indexes rose, and the Dow Jones index closed the trading day above the 35k point mark for the first time in history.
Also, the S&P 500 and the tech Nasdaq index hit their historic highs on Friday, having firmed more than one percent. There is an ongoing results season behind record levels of US stocks, with Wall Street, trading companies announcing how they performed in the second quarter this year.
And so far, it’s a respectable ride. It reported results on 120 companies included in the S&P 500 index, and 88 percent of them beat analysts’ expectations. The scoreboard season will continue this week.
But stock markets will also tensely expect the Federal Reserve’s two-day monetary policy meeting, scheduled for July 27 and 28. Investors will want to hear in particular whether the Fed will confirm its position to date, seeing high US inflation as transitory and that the Fed will continue to support the US economic recovery.
