As a general recap, the market was advancing overall while the S&P 500 and Nasdaq pulled back a bit from seven consecutive record sessions.

Shortly after 12:30 noon EST, the   $S&P 500 Index (.SPX.US)$ fell 0.13%, the     $Dow Jones Industrial Average (.DJI.US)$ climbed 0.98%, and the      $Nasdaq Composite Index (.IXIC.US)$ fell back 0.30%

In macroeconomics this week, investors watched comments from the Federal Reserve President Jerome Powell comment on macroeconomics on capitol hill, and CPI reale on Thursday.

CPI numbers showed a basket of consumer prices in the United States fell for a third straight month to 3.0% in June from 3.3% in May of 2024. Core consumer prices in the US increased by 3.3% in June of 2024 over the same month in the previous year, down from 3.4% in May. Consumer prices fell about 0.1% leading to hope that the Fed may lower interest rates.

PPI comes out Friday, expected at 0.2% core. Investors watched Powell speak in front of yet another Capitol Hill committee, where he said the Fed was waiting for a consensus before acting on interest rate changes, but they were ready to go.

Tuesday, Federal Reserve Chair Jerome Powell said he would like more data supporting rate cuts, but the Fed keeps its options open.

"We know that reducing policy restraint too soon or too much could stall or even reverse the progress we have seen on inflation," Powell said. "In light of the progress made both in lowering inflation and in cooling the labor market over the past two years, elevated inflation is not the only risk we face."

Powell pointed to rising unemployment numbers over the past three months as an example of a cooling market. The unemployment rate most recently peaked at 4.1% in June, he said, while payrolls have shown an increase of 222,000 a month for the past six months. He attributed the job-to-workers gap fall to increased labor participation and strong immigration numbers.

He said that, compared to two years ago, the labor market had cooled significantly to just above where it sat in 2019 and that inflation was not the Fed's only concern.

He also said the Fed does not need inflation below 2% before cutting rates, just evidence inflation is on its way there.

"Reducing policy restraint too late or too little could unduly weaken economic activity and employment," Powell said.

Yesterday, investors watched Powell make no distinctive remarks on interest rate cuts, and some said they saw no cuts before the election.

Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!

Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.