Twitter Fallout, Inflation Data, Alphabet Stock Split, Bank Earnings Top Week Ahead

The next week’s profits will be dominated by the big banks, and investors will also get a new report on inflation and the first opportunity to respond to Elon Musk’s shocking choice on Twitter. The Nasdaq Composite gained 0.12% on Friday, its fifth straight session of gains, the longest winning run of 2022, as U.S. stocks concluded the session barely changed.

As investors absorbed the stronger-than-expected gain of 372,000 jobs last month, the Dow Jones Industrial Average and the S&P 500 registered small declines. The impending events that are most likely to affect the financial markets during the next several days are examined by FOX Business.

Following Elon Musk’s withdrawal from his $44 billion purchase of the social media behemoth late Friday, attention will turn to Twitter shares amid claims that the business failed to give critical information about the number of bogus or spam accounts. In addition, before the hybrid “Las Call on LIBOR: Final Steps to Transition” conference, New York Fed president John Williams will take part in a moderated conversation.

Additionally, through July 13, Target will host its online-only Deal Days sale, and according to reports, Tesla will shut down its Giga Berlin-Brandenburg factory for two weeks. Before the market opens on Tuesday, PepsiCo will be the focus of attention for earnings, and economic data will be centred on the NFIB’s business confidence index. Retail sales, industrial output, import and export prices, company inventories, and the consumer confidence index from the University of Michigan will round out this week’s economic statistics.