Market Strategy

The Nasdaq Composite rose to a record high on Friday, driven by gains in large-cap technology stocks. The index climbed 0.56%, closing at 18,518.61. Meanwhile, the S&P 500 slipped slightly by 0.03% to finish at 5,808.12, and the Dow Jones Industrial Average (DJIA) dropped 259.96 points, or 0.61%, ending the session at 42,114.40.

Both the S&P 500 and Dow Jones Industrial Average hit new all-time highs on Friday, capping six consecutive weeks of gains. The S&P 500 rose 0.40%, closing at 5,864.67, while the Dow added 36.86 points, or 0.09%, to settle at 43,275.91. The Nasdaq Composite, buoyed by Netflix's (NASDAQ:NFLX) strong post-earnings performance, increased by 0.63% to finish at 18,489.55.

Stocks rose higher on Friday after an upbeat September jobs report lifted investor confidence in the strength of the economy, with the S&P 500 climbing 0.9% to close at 5,751.07 and the Nasdaq Composite rising 1.22% to 18,137.85. The Dow Jones Industrial Average gained 341.16 points, or 0.81%, setting a new record at 42,352.75.

The Dow Jones Industrial Average (DJIA) climbed to a new record on Friday, as traders analyzed fresh data suggesting continued progress in reducing inflation. Wall Street also marked its third consecutive week of gains.

Federal Reserve officials will speak this week, providing more insight into their recent decision to reduce interest rates. Friday's release of the August Personal Consumption Expenditures (PCE) Price Index will show whether inflation continues to slow.

Stocks rose higher on Friday, with both the S&P 500 and Nasdaq Composite marking their best weekly performance of 2024 as investors await the upcoming Federal Reserve meeting.

Markets will be closed for the Labor Day holiday on Monday. After that, investors will be focused on key labor market data, primarily the Friday release of the August jobs report.

U.S. stocks climbed on Friday after Federal Reserve Chair Jerome Powell hinted that interest rate cuts are on the horizon. The Dow Jones Industrial Average rose by 462.30 points, or 1.14%, reaching 41,175.08. The Nasdaq Composite saw a 1.47% increase, closing at 17,877.79, while the S&P 500 gained 1.15%, ending the day at 5,634.61—just shy of the all-time highs reached last month.

Investors anticipate comments from Federal Reserve Chairman Jerome Powell and other central bank officials after positive economic data last week. Presidential candidate Kamala Harris will speak at the Democratic National Convention on Thursday.

This week will bring fresh data on inflation, the housing market, and retail sales after a volatile week for markets amid worries about the health of the economy. A handful of Federal Reserve speakers will also give remarks during the week, potentially offering more insights.

After a weaker-than-expected jobs report rattled markets last week, and the manufacturing sector contracted more than anticipated last month, investors will get fresh data on the services sector, consumer credit levels, and more this week.

It will be a busy week for markets with big events in monetary policy and earnings from more than half of the Magnificent Seven companies. The Federal Reserve will announce its latest decision on interest rates this Wednesday, which will be followed by comments from Chair Jerome Powell.