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  • Hi, this is Jeff Kleintop with 90 seconds on what we're watching this week. Now, the

  • market will be focused on the earnings reporting season kicking off, including reports from

  • JP Morgan and Goldman Sachs on Tuesday and Bank of America and Wells Fargo on Wednesday.

  • The market's direction may hinge on the push and pull between rising earnings favoring

  • cyclicals and the rise of the Delta variant favoring defensives. Despite strong economic

  • and earnings reports markets have rotated away from reopening and cyclical stocks in

  • recent weeks as the growth risks from the Delta variant intensify. If the current virus

  • waves ease, or attention turns to the solid earnings reports, it could mean a rotation

  • back toward cyclical stocks that lead most of this year. It could also mean a rise in

  • bond yields after the recent drop. Now, despite the increase in Delta variant cases, the U.K.

  • confirmed an end to lockdowns this week thanks to widespread vaccinations keeping hospitals

  • from being overrun. U.K. trends over the next two to three weeks will be key to watch as

  • they may indicate what could be in store elsewhere as global health experts warn that restrictions

  • may make a return, raising risks to growth. Fed Chair Powell delivers his semiannual testimony

  • on monetary policy to the house on Wednesday and the Senate on Thursday. Expect lots of

  • questions on inflation. And we get the June inflation readings on Tuesday. The Consumer

  • Price Index is expected to tick down slightly to 4.9% year-over-year, even as the monthly

  • rise continues at a strong 0.5% pace. Thanks for watching.

Hi, this is Jeff Kleintop with 90 seconds on what we're watching this week. Now, the

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Weekly Market Outlook | July 12, 2021

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    洪子雯 posted on 2021/07/12
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