By noon Thursday, the $S&P 500 Index (.SPX.US)$ had switched to a decline, down 0.11%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.15%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.10%. The S&P 500 and Nsdaq are almost at record territory a week after hitting fresh highs.
In macroeconomics, GDP numbers for the first quarter are finalized at a growth rate of 1.4%, falling from Q4 2023's 3.4% growing economy. Initial jobless claims came in at 233k, lower than expected.
Fed speakers this week gave conflicting guidance on rate cuts. Monday saw Federal Reserve Bank of Chicago President Austan Goolsbee give a dovish stance for rate cuts, while San Francisco Federal Reserve President Mary Daly also said she sees keeping rates higher.
Investors will watch for PCE inflation data on Friday, which is expected at 2.6% compared to last month's 2.7%.
Mooers, what are you watching today?
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