"There's a lot of trepidation over the start of the earnings releases from 'the magnificent seven,'" said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. "The stocks have done incredibly well and there's a little bit of caution being expressed right now and maybe rightly so. Its accompanying statement and Fed Chair Jerome Powell's subsequent press conference will be parsed for clues on the timing and number of rate cuts this year. "I'm going to be listening for language that confirms that that's the most likely scenario. "Fourth-quarter reporting season has shifted into overdrive, with announcements so far by 144 of the companies in the S&P 500.

Source: Economic Times January 31, 2024 14:50 UTC