The market climbed Friday, and indexes grew slightly, placing the S&P 500 and the Nasdaq just over the hurdle for two more record closes. By the close, the $S&P 500 Index (.SPX.US)$ gained 0.26%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.18%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.35%.
By direction, 6700 equities climbed in the U.S., and 6200 fell.
Investors watched the Nvidia stock split, the Apple tech event where the firm announced Apple Intelligence is coming to devices everywhere, and an upcoming FOMC rate decision this Wednesday.
This week, investors can expect CPI and PPI data, but most importantly, an FOMC rate decision on Wednesday at 2 PM EST. The Fed will also display its economic predictions, a dot plot of where members of the Open Market Committee see rates in the coming months, and signal how many rate cuts it expects to make for the remainder of the year.
Last week, investors watched labor data that appeared too hot for the possibility of a rate cut.
Friday, the nonfarm payrolls release showed employment grew April to 272,000 I May compared to 182K expected. According to the Labor Department, that's about 100k more than the economy added in April. The unemployment rate climbed to 4% for the first time in more than two years, up from April's 3.9%.
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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