S&P 500 Outlook: Strong Tesla Earnings Kick of Event-Laden Week
2021-07-26 20:00:00
Brendan Fagan,
Tesla Earnings, S&P 500, FOMC, Bitcoin- Talking Points
Tesla posts strong second quarter, beating earnings and revenue estimates
Bitcoin climbs over 10%, breaks above $40,000 for the first time since June
Major US benchmarks were relatively flat on Monday ahead of a week packed with earnings, central bank decisions, and key economic data. Many large-cap technology names report this week, including the likes of Apple, Alphabet, eBay, Facebook, and Amazon. Market participants may remain tepid ahead of this week’s FOMC interest rate meeting as investors and traders look for clues regarding rate hikes and tapering. Despite modest gains in US equity benchmarks, the VIX briefly traded back above 18 on Monday, perhaps signaling choppy waters may be ahead given the amount of event-risk in the near term.