Wall Street Week Ahead: The US consumer sentiment will come into the spotlight this week, with investors eyeing corporate earnings reports, retail sales data, and jobless claims reports to confirm further the economic resilience that has boosted equity markets this month. As earnings season kicks off, the benchmark S&P 500 is set to post its fifth straight weekly gain and is hovering near a fresh record high after rising over 21 per cent this year.
A string of encouraging macroeconomic data in the world’s largest economy has dispelled the slowdown fears that rocked markets during June and July. Among these was a blowout jobs report earlier this month, the latest sign that the economy is maintaining solid growth as the US Federal Reserve cuts interest rates – a historically potent combination for stock market gains.
More than 150 S&P 500 companies are expected to report results over the next two weeks.
