After a dismal first half of the year, U.S. stocks started July on an upbeat note, however, market participants fear that upcoming quarterly results could trigger another selloff, with earnings potentially falling short of estimates.
The market is now largely pricing in a 75-basis-point rate hike later in July, however concerns about the pace of future rate hikes have grown after a stronger-than-expected jobs report on Friday.
Shares to drop tomorrow
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