A Data Deluge Brings a ‘Moment of Truth’ for Markets This Week

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US-Canadian Relationship?Budapest’s Most Historic Site Gets a Controversial RebuildTrump Administration Sues NYC Over Sanctuary City PolicyFirst and foremost is the conclusion of the Federal Reserve’s meeting on Wednesday, and although it isn’t expected to cut interest rates, traders and investors will be poring over commentary for clues about the path ahead. Then there’s a string of Big Tech earnings with Amazon.com Inc., Apple Inc., Meta Platforms Inc. and Microsoft Corp. all reporting. And sprinkled throughout are some key indicators on the state of the economy, from gross domestic product to nonfarm payrolls.In other words, if there ever was a five-day stretch that would define the second half of the year, this is it.“This week’s packed calendar — trade negotiations, the FOMC, the jobs report and four of the Magnificent Seven names reporting — makes it truly a moment of truth for markets,” said Julian Emanuel, chief equity and quantitative strategist at Evercore ISI. He was referring to the Federal Open Market Committee, the panel within the Fed that sets interest rates.The fire hose of releases will test investors’ faith in the resilience of the US economy and the stock market’s seemingly unstoppable rise. And with President Donald Trump’s self-imposed tariff deadline of Aug. 1 — which he’s said won’t be extended — markets are hoping for some sense of stability on trade negotiations after months of whiplash.“I think there is more of a chance of markets getting clarity on the continued resilience of the economy, while we get less clarity on the trade front,” said Kevin Gordon, senior investment strategist for Charles Schwab & Co. “‘Reciprocal tariff’ deadlines are staggered for some of our largest partners, and there are still lingering questions around already-announced deal frameworks, so I don’t think of Aug. 1 as some magical date on which we’ll stop being gripped by tariff anxiety.”S&P 500 companies are generally beating forecasts and profits are up 4.5% from this time a year ago, according to Bloomberg Intelligence data. Firms like Southwest Airlines Co., which said tariffs shaved $1 billion from its annual pre-tax profit this year, expect to see improvements in the second half. “We already see signs that demand is coming back in volumes,” Chief Executive Officer Bob Jordan said in an interview.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,433.50 +10.75 (+0.17%)Dow Futures45,087.00 +75.00 (+0.17%)Nasdaq Futures23,547.25 +56.00 (+0.24%)Russell 2000 Futures2,274.30 +5.00 (+0.22%)VIX15.03 +0.10 (+0.67%)Gold3,318.60 +8.60 (+0.26%)PortfolioSign in to access your portfolioSign inTop gainersSCLX Scilex Holding Company 15.52 +3.56 (+29.77%)STEM Stem, Inc. 18.91 +3.92 (+26.15%)NEGG Newegg Commerce, Inc. 39.08 +4.77 (+13.90%)LYEL Lyell Immunopharma, Inc. 13.73 +1.31 (+10.55%)SMCI Super Micro Computer, Inc. 60.05 +5.58 (+10.24%)Top losersCHPT ChargePoint Holdings, Inc. 9.91 -2.30 (-18.85%)ALB Albemarle Corporation 74.77 -8.97 (-10.71%)MCRB Seres Therapeutics, Inc. 13.24 -1.29 (-8.88%)KB KB Financial Group Inc. 78.40 -7.51 (-8.74%)RVTY Revvity, Inc. 95.04 -8.63 (-8.32%)Most activeNVDA NVIDIA Corporation 176.75 +3.25 (+1.87%)TSLA Tesla, Inc. 325.59 +9.53 (+3.02%)WBD Warner Bros. Discovery, Inc. 13.70 +0.21 (+1.56%)INTC Intel Corporation 20.68 -0.02 (-0.10%)LCID Lucid Group, Inc. 2.7900 -0.1300 (-4.45%)Earnings eventsTrending tickersSRPT Sarepta Therapeutics, Inc. 13.86 +1.93 (+16.18%)VAPE CEA Industries Inc. 57.59 +48.71 (+548.85%)SMCI Super Micro Computer, Inc. 60.05 +5.58 (+10.24%)CLS Celestica Inc. 173.37 +3.15 (+1.85%)BMNR Bitmine Immersion Technologies, Inc. 35.11 -4.69 (-11.78%)Top economic events