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Hey listeners, it's Saturday, July 13th.

I'm Francesca Fontana for the Wall Street Journal and this is

what's news and markets. Our look at the biggest stock moves of the week and the

news that drove them. Let's get to it. This week all eyes were on the head of the Federal Reserve Jerome Powell.

And markets were mowing the same questions we've been talking about all year. When are we going to see an

interest rate cut? Are we even getting any cuts this year? What's it going to take?

Powell spent two days testifying in front of Congress, as many of you dedicated

listeners might have heard about on what's news a few days ago. We didn't get an

exact answer but we did get a somewhat clearer idea of where his heads at. He

indicated that it's now less a question of if the Fed cuts rates this year and more a question of when.

So between that and a surprisingly cool inflation reading on Thursday, traders are thinking

that rate cuts could come sooner rather than later, which as we've

discussed here before could be a big catalyst for the stock market. In the end, the

three major indexes all logged weekly gains. But this week wasn't just about inflation and

interest rates it was also the start of earning season. The kickoff is usually

the big banks that reported yesterday, more on those in a bit,

but we got some interesting reports earlier in the week, like Delta Airlines on Thursday.

The company's quarterly profit dropped 29%, which at first glance might seem off,

because hasn't travel demand been booming post-pandemic?

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