This week, stocks fell from record highs, with the S&P 500 dropping nearly 2% and the Nasdaq down over 3.5%, their worst performance since April. The Dow Jones, however, rose about 0.7%.
Key events to watch include new data on economic growth and inflation and the start of Big Tech earnings.
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President Joe Biden announced on Sunday he won’t seek reelection.
Economic reports this week feature Thursday’s Q2 growth data and Friday’s Personal Consumption Expenditures index, the Fed’s favored inflation metric. Major companies like Alphabet, Tesla, and Chipotle are also set to release quarterly earnings.
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