Last week was the worst for the S&P 500 and Nasdaq Composite since March.
. It's the latest leg of what has broadly been considered a better-than-expected season. Of the 84% of companies in the S&P 500 that have posted their quarterly results, about four-fifths have exceeded Wall Street forecasts, according to FactSet.
Later in the week, investors will shift focus to the release of July consumer and producer price index data. Both are closely watched given their connection to the path of inflation and the health of the economy. The indexes have been watched with particular interest amid the Federal Reserve's rate-hiking campaign as investors try to predict how the central bank will move policy going forward. The readings follow last week's jobs data, which showed there was"For the Fed, this report has to be a relief, but likely doesn't tilt the scales one way or the other," said PIMCO managing director Tiffany Wilding following the jobs report on Friday.
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