--- title: "Stock Market Today: July 24, 2023" description: "The U.S. #stock market seems poised for a constructive start today, as we head into a busy week on Wall Street. Over the next few days, investors will be paying close attention to the Federal Reserve, while also sifting through a large batch of corporate profit reports. Tomorrow, the Conference Board’s consumer confidence index for the month of July will be published, along with the latest monthly S&P Case-Shiller home price index." image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-358.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: July 24, 2023 July 24, 2023 The U.S. stock market seems poised for a constructive start today, as we head into a busy week on Wall Street. As we were writing this report, the S&P 500 Index futures were up slightly in early morning trading. Over the next few days, investors will be paying close attention to the Federal Reserve, while also sifting through a large batch of corporate profit reports. In economic news, today should be relatively quiet. Tomorrow, the Conference Board’s consumer confidence index for the month of July will be published, along with the latest monthly S&P Case-Shiller home price index. On Wednesday, the FOMC (Federal Open Market Committee) will wrap up its regularly scheduled two-day meeting. At this juncture, most investors expect that the Federal Reserve will lift interest rates by 25 basis points. However, it should be noted that progress has been made on the inflation front, and it is possible that the central bank will soon assume a less-aggressive stance. Later in the week, investors will get a look at the advanced estimate for second-quarter GDP (gross domestic product). Here, the numbers will likely show that the U.S. economy expanded at a rate of about 1.7%, annualized. A healthy GDP reading is important, as many voices on Wall Street have been predicting that the economy might soon be heading into a recession. The PCE (Personal Consumption Expenditures) price index for the month of June will also be released at the end of the week. In the corporate arena, numerous large corporations will be weighing in with profit reports over the next few days. Specifically, we will hear from many leading technology companies, including Google’s parent company [Alphabet (GOOG)](https://research.valueline.com/research#sec=company&sym=GOOG), [Microsoft (MSFT)](https://research.valueline.com/research#sec=company&sym=MSFT), and [Meta Platforms (META)](https://research.valueline.com/research#sec=company&sym=META). These reports will be closely scrutinized by investors, especially since the technology sector has been driving the market higher for some time, and quite a few investors may be wondering if current valuations are warranted. From a technical vantage point, the S&P 500 Index continues to drift higher, adding to an already impressive run. Timing the stock market with any accuracy has proven to be a difficult task, and it should be noted that stocks typically do not advance forever without periods of consolidation or profit-taking along the way. The broader market is currently trading at a price-to-earnings (P/E) multiple of almost 18, which is not inexpensive, and probably only makes sense if the economic news and the corporate sector continue to provide support. - Adam Rosner *At the time of this article’s writing, the author had a position in Alphabet.* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). Our account managers are available Monday through Friday, 8:00 AM to 6:00 PM Eastern Time. [![Register now for our free One Stock to Buy webinar](https://no-cache.hubspot.com/cta/default/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5.png)](https://cta-redirect.hubspot.com/cta/redirect/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5) ### Popular Posts Search Search Blog ### Topics - [Investing 101 (2)](https://investor.valueline.com/blog/topic/investing-101) - [Market Commentary (37)](https://investor.valueline.com/blog/topic/market-commentary) - [Stock Highlights (390)](https://investor.valueline.com/blog/topic/stock-highlights) - [Stock Market Today (2071)](https://investor.valueline.com/blog/topic/stock-market-today) Copyright 2026 Value Line, Inc. All Rights Reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. VALUE LINE IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN OR ANY DAMAGES OR LOSSES ARISING FROM ANY USE OF THE INFORMATION CONTAINED HEREIN. This blog is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. Officers, directors, or employees of Value Line, Inc. and its affiliates and subsidiaries, and EULAV Asset Management, may own stocks that are featured in this email. Nothing herein should be construed as an offer to buy or sell securities or to give individual investment advice. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, “Smart research. Smarter investing.”, The Value Line Investment Survey, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries.