S&P 500: S&P 500 may be heading higher to retest 4,640

 


The S&P 500 rotated out of the tech sectors into the beaten-down sectors, such as healthcare, financials, utilities and energy, in anticipation of another 25-basis point hike at the FOMC meeting on July 26, according to the CME FedWatch Tool. Beware though, Google and Microsoft announce earnings next week and will most likely give outlook and revenue guidance for their generative A.I. businesses.

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