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Key events: UK - Retail Sales (MoM) (Jun) Canada - Retail Sales (MoM) (May) On Thursday, both the S&P 500 and Nasdaq experienced declines due to the disappointing quarterly results of Tesla (NASDAQ: TSLA) and Netflix (NASDAQ: NFLX). However, the Dow managed to continue its positive streak for the ninth consecutive day, thanks to Johnson & Johnson (NYSE: JNJ) posting a strong annual forecast, which boosted its share prices.

The dot plot produced by the Federal Reserve has gained immense attention and scrutiny in global financial markets. Since January 2012, the Fed has periodically updated this scatter chart, making it the unofficial forecast of the US central bank's monetary policy, whether intended or not. Additionally, it serves as a valuable source of insights into dissent within the Fed's policy-making committee, despite its cryptic nature and the challenges associated with interpreting it accurately.

Key events:  UK - GDP (MoM) (May) USA - Initial Jobless Claims USA - PPI (MoM) (Jun) The Dow Jones Industrial Average closed higher on Wednesday, despite giving up some of its gains. The positive finish was driven by a decline in Treasury yields and a boost in the tech sector following data that revealed the slowest increase in inflation in over two years. This development has sparked optimism that the anticipated rate hike later this month might be the last one.

Key events: USA - Average Hourly Earnings (MoM) (Jun) USA - Nonfarm Payrolls (Jun) USA - Unemployment Rate (Jun) On Thursday, the Dow closed with a decrease as strong job market data prompted expectations of additional Federal Reserve rate hikes. This led to a surge in Treasury yields, causing concerns in the market. The Dow Jones Industrial Average dropped by 1.1% or 366 points, while the Nasdaq and the S&P 500 both experienced declines of 0.8% and 0.80% respectively.

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The confluence of factors within the finance industry and the broader economy led to the onset of the 2008 financial crisis. However, the primary cause of this crisis can be attributed to the deregulation of the financial industry, which allowed banks to participate in hedge fund trading involving derivatives. This deregulation enabled banks to demand an increased number of mortgages to support the profitable sale of these derivatives. To cater to subprime borrowers, the banks introduced interest-only loans that appeared to be affordable.

In the world of investing, the pursuit of beneficial opportunities is a central goal. Over the course of history, long-term investments in assets like housing and the stock market have demonstrated their potential for generating wealth. However, it is important to acknowledge the inherent unpredictability of short-term performance, which can lead to significant losses in various investment avenues.

Key events: USA - Fed Chair Powell Speaks USA - GDP (QoQ) (Q1) USA - Initial Jobless Claims USA - Pending Home Sales (MoM) (May) On Wednesday, the Nasdaq experienced a modest increase, supported by the performance of large-cap stocks. However, the S&P 500 and the Dow closed lower following remarks from US Federal Reserve Chair Jerome Powell. Powell indicated the likelihood of additional rate hikes and expressed skepticism that inflation would reach the central bank's target rate "this year or next year."

Key events: UK - CPI (YoY) (May) USA - Fed Chair Powell Testifies On Tuesday, US stocks experienced a decline, closing with negative results as investors took the opportunity to secure profits after a sustained rally. The market displayed signs of weakening global demand, prompting cautious behavior at the start of the holiday-shortened week.