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Procter & Gamble (PG 154.88, +2.77, +1.8%): beats by $0.05, beats on revs; guides FY24 EPS in-line, revs in-line
Chevron (CVX 158.67, -0.99, -0.6%): misses by $0.04, beats on revs (EPS in line with pre-announcement on 7/24)
Exxon Mobil (XOM 105.00, -0.42, -0.4%): misses by $0.09, beats on revs
Colgate-Palmolive (CL 77.30, +0.19, +0.3%): beats by $0.02, beats on revs
The 2-yr Treasury note yield is down six basis points to 4.86%
The 10-yr note yield is down five basis points to 3.96%.The S&P 500 futures are up 24 points and are trading 0.5% above fair value.
The Nasdaq 100 futures are up 140 points and are trading 0.9% above fair value.
The Dow Jones Industrial Average futures are up 117 points and are trading 0.3% above fair value.Personal income rose 0.3% in June (consensus 0.5%) following a revised 0.5% increase in May (from 0.4%). Personal spending rose 0.5% in June (consensus 0.3%) following a revised 0.2% increase in May (from 0.1%).
The PCE Price Index rose 0.2% in June (consensus 0.2%) following a 0.1% increase in May. The core-PCE Price Index, which excludes food and energy, rose 0.2% in June (consensus 0.2%) following a 0.3% increase in May.
The Employment Cost Index rose 1.0% in Q2 (consensus 1.1%) following a 1.2% increase in the prior reading.
RALLY TIME on WALL STREET
Dow 35,459.29 176.57 0.50%
S&P 500 4,582.23 44.82 0.99%
Nasdaq 14,316.66 266.55 1.90%
VIX 13.30 -1.11 -7.70%
Gold 1,958.80 13.10 0.67%
Oil 80.48 0.39 0.49%July 30 – August 5, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Data
[See the full post at: Traders Market Weekly: Jobs and a Data Dependent Fed]
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