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Market overview 2023-07-13

14.07.2023

Not bad macroeconomic statistics on inflation, calm corporate reporting and good news from the market "SEC vs. cryptocurrency exchanges", these are probably the three main factors that allowed the US stock market to continue its ascent. The main drivers of growth were shares in the Technology and Communications sectors, which naturally put the tech-heavy Nasdaq in the lead, allowing it to add just over 1.5 percent. In general, trading volumes clearly increased, which may indicate that market participants began to more intensively reduce short positions with the indices reaching the highs of the year, as well as pushing players, mainly medium and small, to build up long positions. Today, Friday, July 14, the "heavyweights" of the market start publishing their reports, starting as always with the Financial sector. The data are expected to be not bad, and in this case the stock market may get a good charge for continued growth on the last day of the trading week.