Investing.com -- Wall Street looks set to start the new week on a positive note, as investors digest the implications of the attempt on former President Donald Trump's life, ahead of a deluge of corporate earnings, including from Goldman Sachs, and comments from Fed Chair Jerome Powell.
Some Democrats in the House of Representatives and Senate have publicly called upon Biden to drop out in the aftermath of his shaky performance in a June debate against Trump. In his recent testimony on Capitol Hill, Powell highlighted the central bank's ongoing efforts to tackle inflation and its commitment to a dual mandate, and investors will be looking for more clues over a potential cut in interest rates in September.) set to release its numbers later in the session after a number of its rivals started the ball rolling late last week.Second-quarter earnings for S&P 500 companies are expected to have jumped 10.
This data indicates the country is facing increased economic headwinds, and this is likely to bode poorly for crude demand in this vitally important market.