Bulls Steady Ahead of Key Earnings and Economic Data

U.S. equities are holding steady in what has been a week of conflicting signals. President Trump’s aggressive stance on trade, including potential 30% tariffs on EU and Mexican goods, has shaken market sentiment, but his public commitment to retain Jerome Powell as Fed Chair brought some temporary relief. That stability, at least for now, is helping underpin stock indices.

Focus has now turned to corporate earnings, with key players like TSMC and Netflix reporting shortly. These names could set the tone for the broader Q2 earnings season. At the same time, traders are closely monitoring incoming U.S. data — including retail sales and jobless claims — to gauge the health of the consumer and labor market. The combination of strong earnings and resilient macro data could provide the momentum

Technical Structure:
• Resistance: 44,350 — a potential breakout point
• Support: 44,000 and 43,800
• Pattern: The index is trading within a descending channel, but recent strength suggests a breakout may be developing.
• Upside potential: If earnings and macro data support risk appetite, a breakout toward 44,800 becomes plausible.

Takeaway: Sentiment remains fragile but stable. Traders should keep a close eye on both corporate results and macro data releases for direction cues.