In a holiday-shortened week, U.S. equity indexes reached new record highs, driven by gains in the technology and consumer discretionary sectors. Federal Reserve Chair Jerome Powell’s dovish comments supported market sentiment, despite mixed economic data indicating a cooling labor market.
The S&P 500 broke its three-week winning streak, ending the week slightly lower despite promising inflation data. With Federal Reserve insights hinting at potential rate cuts later this year, all eyes are on the upcoming payroll reports to gauge the economic outlook.
U.S. equity markets reached new highs early in the week, driven by big tech, but stumbled in the last two sessions. The S&P 500 and Dow posted gains, while the Nasdaq remained flat. Technology stocks were a major catalyst, with Apple, Microsoft, and NVIDIA competing for the top spot. European and Asian markets were mixed, and consumer spending showed signs of cooling. Bond yields rose amid mixed economic data, and commodities saw fluctuations. Key economic data releases are expected in the coming week.
This week's market recap highlights strong gains in U.S. tech stocks, insights into cooling inflation, and updated economic forecasts from the Federal Reserve. Discover the key market movements, sector performances, and important economic data releases to watch in the coming week.
U.S. stocks climbed for the sixth week in seven, led by NVIDIA's strong performance. Internationally, European markets gained, while political developments impacted India and Mexico. Key economic indicators showed robust job growth, stable wage pressures, and upcoming data that could influence market trends.
U.S. equities faltered amid higher yields and mixed earnings, ending a five-week win streak for major indexes. Technology sector disappointments contrasted with gains in energy and real estate. Treasury auctions showed weak demand, signaling potential yield increases. Consumer sentiment indicated a softening job market, while business investment in technology provided a bright spot.