--- title: "Stock Market Today: July 8, 2024" description: The U.S. stock market may inch higher at the opening bell this morning, as a new week on Wall Street begins. The S&P 500 Index futures were making their way into positive territory, after having been down earlier in the morning. 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 8, 2024 July 8, 2024 The U.S. stock market may inch higher at the opening bell this morning, as a new week on Wall Street begins. Over the next few days, investors will be focusing on the Federal Reserve, the nation’s battle with inflation, and the corporate sector. Any developing news that could impact the upcoming Presidential race will also likely be of interest to investors. As we were writing this piece, the S&P 500 Index futures were making their way into positive territory, after having been down earlier in the morning. In the economic arena, no major reports are scheduled for today. Tuesday and Wednesday, Federal Reserve Chairman Jerome Powell will deliver testimony to Congress, and investors will probably be paying close attention to his remarks. On Thursday, the latest monthly CPI (Consumer Price Index) will be published. Analysts expect the numbers to show that prices rose 3.1% (annualized) for the month of June, year over year, down slightly from the 3.3% increase recorded in May. On Friday, the PPI (Producer Price Index), a measure of wholesale inflation, is set to follow. In addition, the University of Michigan will publish the consumer sentiment survey for the month of July (preliminary reading). This report should be carefully watched, given that the consumer is vital to the health of the broader economy. The consumer continues to hold up reasonably well, despite some challenges. Notably, many economists have voiced concerns that rising credit card debt levels could become problematic, especially in the current elevated interest-rate environment. In the corporate sector, the second-quarter earnings season is slated to start later this week. On Friday, we will hear from a number of large banks, including [JPMorgan Chase (JPM)](https://research.valueline.com/research#sec=company&sym=JPM), [Wells Fargo (WFC)](https://research.valueline.com/research#sec=company&sym=WFC), and [Citigroup (C)](https://research.valueline.com/research#sec=company&sym=C). These financial institutions conduct business with a diverse set of customers operating across numerous industries, so their most recent reports can be quite informative. It should be noted that analysts are rather optimistic about the second-quarter earnings season. However, high expectations might make it hard for companies to impress. It should be mentioned that investors may want to see the leading technology companies post strong results, especially given the excitement surrounding advances in artificial intelligence. Technically, the stock market continues to edge higher, as we kick off the month of July. For perspective, the S&P 500 Index is now ahead almost 18% for the year. Considering the impressive gains logged so far, many traders may wonder if further progress can be achieved in the second half of the year. – Adam Rosner *At the time of this article’s writing, the author did not have positions in any of the companies mentioned.* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). 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