Home Business News Traders cautious amid bank earnings releases

Traders cautious amid bank earnings releases

by LLB Finance Reporter
19th Jul 23 6:03 am

The US stock market could be exposed to some volatility this week as traders monitor earnings from banks and other large companies.

Strong bank earnings could help dissipate remaining investors’ concerns about the solidity of the banking sector.

Wael Makarem, Senior Market Strategist – MENA at Exness said, “As a result, traders could remain cautious ahead of results from smaller banks.

“The weaker-than-expected economic data released today could also fuel some concerns about the state of the US economy.

“Over the medium term, the market could continue to see some support as traders consider the next steps in monetary policy.

“In this regard, the Federal Reserve could raise interest rates another time during its meeting next week.

“The hike could potentially be the last if inflation continues to slow down.”

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