Noor Trends News, Technical Analysis, Educational Tools and Recommendations
US stock markets held steady as investors anticipated key economic data and navigated evolving trade policies. The Dow Jones Industrial Average dipped slightly by 0.3%, while the S&P 500 and Nasdaq Composite edged up by 0.2% and 0.3%, respectively, both poised for potential record-breaking closes. This followed a strong week where the Nasdaq secured two consecutive record highs, and the S&P 500 came close to a new peak.
Tech stocks led the charge, with Apple enjoying its strongest week since 2020, fueled by positive attention from a White House event. Nvidia also hit a fresh record high on Friday, bolstered by signals that major tech firms might sidestep proposed chip tariffs. In a notable development, a unique agreement was announced involving Nvidia, AMD, and the U.S. government. The deal allows Nvidia to sell its older H20 chip to China, with both Nvidia and AMD agreeing to share 15% of their revenue from specific chip sales to China with the U.S. government. This arrangement sparked a reversal in early losses for both companies’ shares on Monday.
The broader market context remains shaped by ongoing trade policy shifts. Recently implemented tariffs on various trade partners have stirred debate, with some claiming these measures are boosting market performance. However, investors are now focused on upcoming sectoral tariffs targeting semiconductors and pharmaceuticals, alongside a critical Tuesday deadline for extending a tariff pause with China. These policies are expected to influence price pressures, with inflation data looming large this week. The Consumer Price Index, due Tuesday, will offer insights into tariff-driven price trends, followed by the Producer Price Index on Thursday and retail sales data on Friday. Economists note that inflation, which picked up in June, may face further pressure from these trade measures.
In commodities, gold futures declined in New York as traders awaited clarity on tariff policies affecting bullion bars. With Wall Street balancing optimism for record highs against economic and geopolitical uncertainties, this week’s data releases and policy developments will be critical in shaping market direction.
