After a volatile week characterized by some economic growth and the intersection of Bitcoin and politics, this week will be focused on what comes next.
Investors will be watching tech giants’ earnings, the crypto market performance, and what the Fed Chair has to say about interest rate cuts.
Let’s unfold what’s going to happen:
Will the Fed lower the interest rate?
The Federal Open Market Committee (FOMC) meeting is scheduled for Wednesday, and there are reports indicating that the Fed may lower the interest rate during the meeting. Fed Chair Jerome Powell will speak after the meeting to announce the decision.
Tech giants will report their earnings
Similar to last week, big tech companies will report on their financial health this week. On Tuesday, Microsoft and Advanced Micro Devices will report earnings after the bell, followed by Meta’s earnings on Wednesday after the day ends. On Thursday, Apple and Amazon will share their report card after the closing bell.
Other important earnings to watch
On Monday, McDonald’s will report earnings before the market opens. Airbus and JetBlue will report on Tuesday, while Boeing will report on Wednesday. On Thursday, crypto companies such as Coinbase and MicroStrategy will report their earnings. Berkshire Hathaway’s earnings will come on Friday.
Keep an eye on the crypto market
It will be interesting to see how the crypto market behaves this week. This is because former President and Republican nominee Donald Trump’s speech at the Bitcoin conference may impact the prices of cryptocurrencies. Additionally, the performance of spot Ether ETFs and Fed Chair Jerome Powell’s speech may also have an effect on the crypto market.
Other macroeconomic reports to monitor
The consumer finance report and job openings report will be released on Tuesday, followed by the ADP employment report on Wednesday. On Friday, the U.S. employment report and the unemployment rate will be released. These reports will indicate the direction of the economy and whether the Fed is prepared for interest rate cuts.
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