Market veteran: Two major data releases this week are expected to ignite a new round of gains in the US stock market!

Two key data releases this week are expected to ignite a new round of gains in the US stock market. The president of Adney Research predicts that the second-quarter domestic gross domestic product (GDP) and the Consumer Price Index for June will be crucial for the stock market's continued rebound. Economists expect the US second-quarter GDP growth rate to reach 1.9%, with the June core Personal Consumption Expenditures (PCE) expected to increase by 2.5% year-on-year. If the data meets expectations, it will support the prospect of a soft landing for the US economy and give the Federal Reserve more reasons to cut interest rates. The current record-breaking rise in the US stock market is supported by corporate earnings. The information technology and communication services sectors together account for about 41% of the S&P 500 Index, representing one-third of the expected earnings per share of the S&P 500 Index. Earnings for the US stock market in the second quarter have already begun to materialize