Almost a flat day for Wall Street
On Monday, only the Nasdaq, among the big three US indexes, finished slightly in negative while the other two registered a small profit.
The S&P 500 finished at +0.07%, the Nasdaq ended the trading session at -0.11% and the Dow Jones closed at +0.12%.
The investors' sentiment is neutral, as indicated in the graph below:
Sentiment indicator - Fear & Greed Index
The market sentiment is 54, in “Neutral” mode. It changed from Greed to Neutral in one week.
Meta is planning for layoffs
This week, Meta Platforms will announce the cut of thousands of jobs, accordingly to Bloomberg.
The reason behind this decision is to become more efficient.
In November, the social network company, have already eliminated 11,000 employees.
Powell's speech
The US Federal Reserve president Jerome Powell is scheduled to speak at the Congress on Capitol Hill today at 15:00 GMT.
Investors will be watching closely the comments of Mr Powell to understand what will be the next action of the Federal Reserve to fight inflation, considering the latest strong economic data.
The actual narrative is that the Federal Reserve needs to hike the interest rates higher than expected and for a longer period than previously announced.
Markets are going to be impacted, so there may be volatility.
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Investor Alert: Powell's Speech Could Spark Market Volatility
Published 07/03/2023, 12:11
Updated 28/07/2023, 11:55
Investor Alert: Powell's Speech Could Spark Market Volatility
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