Dow Jones, Nasdaq, S&P 500 weekly preview: May jobs data in the limelight
jumped on Friday, marking its best session of the year, as investors closed a strong month after the Federal Reserve’s preferred inflation measure met expectations.The S&P 500 and Nasdaq ended five-week win streaks with drops of 0.51% and 1.1%, respectively. The Dow slipped 0.98%, marking its second consecutive week of losses.
Looking ahead to this week, the biggest economic event will be the Friday release of the May jobs data. JPMorgan economists said they expect a small step down from last month, and estimate that nonfarm payrolls increased by 150,000 last month, with the unemployment rate steady at 3.9%. The bulk of the Q1 earnings season is over, with only a few companies left to report their financial performance for this period.). Analysts expect Lululemon to report earnings of $2.38 per share, reflecting a 4.4% year-over-year increase, with revenue projected at $2.2 billion, up 10% YoY.
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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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