SPX: awaits inflation data

Regardless of concerns regarding the future effects of implemented trade tariffs by the U.S. Administration, the positive sentiment continued to hold on the U.S. equity markets during the previous week. The S&P 500 closed the week at the level of 6.389, surging by 2,4% for the week. The index is slowly nearing its all time highest level, achieved on 31st July, at the level of 6.426.
Friday's rally was for one more time led by tech companies. Shares of Apple gained around 13% for the week, after the company announced its significant investments of $600B within the next four years in the U.S. Analysts are calling this deal as “appease” to the U.S. President, who on several occasions expressed his wish that IPhones are made in the U.S.A. As per comments made by Tim Cook, CEO of Apple, “the final assembly that you focus on, that will be elsewhere for a while”, meaning that the production of IPhones is still not going to be done in the U.S.A. Nevertheless, markets reacted positively to Cook's meeting with the U.S. President, especially taking into account a heavy burden of tariffs, which the U.S. President announced to be 100% on chip imports.
Considering current market sensitivity on inflation data, the week ahead might bring some major testing for the U.S. equity markets, as July inflation data are scheduled for a release. Analysts are noting that any surprises in the inflation figures might imply a correction in the value of US companies, especially after a significant surge during the last four months.