The market is open for a regular trading week that will see updates to U.S. GDP numbers, and PCE inflation data Friday. Last week was a shortened trading week for the Juneteenth Holiday that saw records in the S&P 500 and Nasdaq and a dramatic race to the top market cap spot between Apple, Microsoft, and Nvidia.
Nvidia pulled back in the stock's largest drop in two months.
Shortly after the close, the $S&P 500 Index (.SPX.US)$ fell 0.31%, having hit a fresh high Thursday. The $Dow Jones Industrial Average (.DJI.US)$ climbed 0.67%, and the $Nasdaq Composite Index (.IXIC.US)$ was following Semiconductor stocks lower, down 1.09%.
In macroeconomics, Federal Reserve Bank of Chicago President Austan Goolsbee gave a dovish stance for rate cuts. In an interview on CNBC, Goolsbee said there are new signs of stress on the economy that should make the U.S. central bank examine its rate stance.
"There are a couple of warning signs," Goolsbee said, including "what seems to be a cooling of consumer spending."He also pointed to a rise in jobless claims and a spike in consumer delinquencies on credit-card debt.
Mooers, what are you watching today?
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