Nasdaq Slumps 4.16% in July as Wall Street Faces Geopolitical Risks

The US stock market saw a strong buying trend overnight as investors digested the Federal Reserve's rates decision and quarterly results from several companies. However, despite this uptrend, July appears to be a bearish month for the Dow Jones, S&P 500, and Nasdaq.

The tech-heavy index, Nasdaq, has taken the worst hit, crashing by nearly 1,092 points in the past 30 days. Several factors will influence Wall Street's trend on Friday, including geopolitical risks, elevated crude oil prices, and inflationary concerns that may lead to a rate hike in September.

The last trading day of July, July 31st, will feature key economic data releases, such as the Chicago PMI, Employment Cost Index, and University of Michigan Consumer Sentiment. Investors will also be watching earnings reports from Abbvie Inc., Chevron Corp., Colgate-Palmolive Co., Dominion Energy Inc., Eaton Corp., Enbridge Inc., Linde PLC, and Natwest Group PLC.