Reported 8 months ago
Stocks closed the previous week on a strong note with the Nasdaq rising over 3% and the S&P 500 reaching above 5,400 for the first time. As markets enter a quiet week with focus on economic updates and May retail sales, softer-than-expected inflation data has fueled expectations of interest rate cuts. Economists anticipate positive readings for the Fed's preferred inflation gauge, with Bank of America forecasting a reduction in policy rates later in the year. Meanwhile, concern arises among Wall Street economists that delaying rate cuts could negatively impact softening economic conditions, emphasizing the importance of the weekly jobless claims release. The May retail sales report is also closely watched for insights into consumer behavior amid rising rates.
Source: YAHOO