Dow Jones, Nasdaq, S&P 500 weekly preview: FOMC in focus after strong jobs report
The broad market index dipped 0.11% to close at 5,346.99, after reaching an all-time high earlier in the session. TheDespite the slight declines, all three major indices recorded gains for the week. The Dow rose 0.29%, the S&P 500 gained nearly 1.32%, and the Nasdaq advanced 2.38%.
Markets will now shift their focus to the several key economic data releases due this week, most notably the Consumer Price Index report on Wednesday and the Producer Price Index report on Thursday. “As discussed in our FOMC preview, we continue to expect the first rate cut in September, by which point we expect to have seen five straight months of better inflation news,” Goldman said in a Sunday note.
For Broadcom, a key semiconductor player, analysts at Susquehanna project “n-line to slightly better results as continued AI growth, optimization of the VMware became the 2nd largest stock in the S&P 500 this week, with its share price surpassing $1,200. The company recently announced a 10-for-1 stock split set to take effect after today’s close. Many equity investors have inquired about the impact of corporate stock splits.
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Dow slides 500 points, S&P 500 retreats from record while Nasdaq hits new heightsSamantha Subin is a digital news associate with CNBC.
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