The new date is Aug 1, 2022.
Despite recently posting its best month since 2020, the stock market fell on Monday as investors continued to worry about a potential slowdown in corporate earnings, more rate hikes from the Federal Reserve and whether the economy will fall into a recession.
Some experts warn that the recent gains are just part of a relief rally.
The S&P 500 and the tech-laden Nasdaq were both flat in the first minutes of trading.
The S&P 500 rose more than 9% in July, its best month since 2020, while the other two major indexes posted their best months in years.
Big Tech stocks, which surged higher last week after reporting second-quarter earnings, rose again on Monday with the likes of Apple, Amazon and Alphabet all gaining.
More than half of the companies in the S&P 500 that have reported earnings so far have beaten analyst expectations.
Despite some positive results, a good deal of uncertainty remains in markets, especially after the Federal Reserve hiked interest rates last week in order to bring down high inflation.
The U.S. GDP fell by 0.9% in the second quarter, marking the second straight quarter of negative economic growth.
After weak manufacturing data out of China led to more demand concerns, the price of U.S. benchmark West Texas Intermediate dropped over 5% to around 93 per barrel.
As long-term interest rates have been coming back down, we're seeing a relief rally in the stock market. He warns that markets will again have a selloff as stock prices rebound and it becomes clear that we are headed for a more typical recession.
According to a recent note from Bank of America's head of U.S. equity and quantitative strategy, they are still in the early stages of the downturn. Historical data shows that the stock market will not find a bottom until earnings estimates are much lower.
History shows that stocks could keep rising.
Despite the U.S. GDP Shrinking for a second quarter in a row, experts say there is no recession yet.
The stock market jumped 400 points after the Fed hiked rates.
Facebook parent shares fall after the company says it doesn't have enough advertising demand.
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