DJI: Dow Jones Logs 11-Day Win Streak amid Soft Landing Expectations

Earnings continue today with big tech on deck to post second-quarter numbers and current-quarter guidance.

• The Dow Jones Industrial Average added another day of gains on Monday, building on its longest win streak since 2017. The blue-chip stock index climbed half a percent to sit on 11 straight sessions of positive performance. And now the market is hyped over the prospects of a soft economic landing. What’s that?
• The Federal Reserve has bumped interest rates from near zero to more than 5% in just over a year. Higher rates mean credit gets more expensive, hence a lot of liquidity gets sucked out of the system. This can lead to a recession or worse – an economic crisis. A soft landing avoids that and instead there’s a smooth transition.
• In other news, it’s big tech week and earnings figures will rain down from the $1 Trillion Club – Microsoft, Amazon, and Alphabet. There’s also Facebook’s Meta which is up a whopping 134% year-to-date. Apple’s quarterly financials are scheduled for August 3.