Deutsche Bank strategists highlight that the S&P 500 closed at 7575, gaining 0.42%, after a strong week supported by stabilising chip stocks and a rebound in the Philly semiconductor index. The team notes Q2 United States (US) earnings season starts with major banks, while Fed Chair Warsh’s testimony and key Consumer Price Index (CPI) and Producer Price Index (PPI) data will shape equity sentiment.

US equities supported by tech stabilisation

"Over in the US, markets put in a relatively stronger performance, with equities supported by a stabilisation in chip stocks. That saw the Philly semiconductor index recover +2.70% (+0.06% Friday), with the S&P 500 ultimately up +1.23% (+0.42% Friday)."

"On earnings, tomorrow features JPMorgan, Bank of America, Goldman Sachs, Wells Fargo and Citigroup. Wednesday brings Morgan Stanley alongside ASML, Johnson & Johnson and BlackRock, offering a useful cross-sector snapshot."

"For equities, there was also a decent hit, with the STOXX 600 down -1.79% (+0.04% Friday), marking its biggest weekly decline since April. "

"Thursday is especially busy, with TSMC, Netflix, General Electric and UnitedHealth reporting across tech, industrials and healthcare. By Friday, attention shifts to European names including Volvo, Sandvik and Saab, rounding out the global picture."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)