Of the 283 S&P 500 companies that have reported results, 78.1% have topped profit estimates, as per Refinitiv data. However, the earnings season has showed companies were far more resilient in the second quarter than estimated. Worries about a recession have weighed on stock markets this year, with the benchmark index (.SPX) down 13.4% as investors adjust their expectations on economic growth and corporate profits in the face of tightening financial conditions. central bank has raised interest rates by 2.25 percentage points so far this year and has vowed to be data-driven in its approach toward future hikes. jobs report on Friday, which will be parsed for cues for the Fed's next moves. The factory activity data will be followed by the monthly U.S. The index fell 2.8% and was the top loser among the 11 sectors. That dragged oil prices lower on demand concerns, which in turn weighed on the S&P 500 energy sector (.SPNY). The report came on the heels of surveys which showed factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 curbs slowed production. manufacturing activity slowed-less-than-expected in July and there were signs that supply constraints are easing. aviation regulator approved the planemaker's inspection and modification plan to resume deliveries of 787 Dreamliners. Offering support to the Dow and S&P 500, Boeing Co (BA.N) gained 5.4% after a Reuters report the U.S. A lot of people are trying to understand have we seen the bottom and are we going to move higher from here," said Robert Pavlik, senior portfolio manager at Dakota Wealth Management. "The market was a little bit on edge, it's just trying to find its way right now.
The S&P 500 and the Nasdaq posted their biggest monthly percentage gains since 2020 in July on stronger-than-expected second-quarter results and on hopes the Federal Reserve need not to be as aggressive with interest rate hikes as some had feared. Aug 1 (Reuters) - The Dow and the S&P 500 fell in volatile trading on Monday as a strong earnings-driven rally from last week lost steam, with losses in economy-sensitive sectors being countered by gains in shares of Boeing and Tesla.