PCE report is expected to show prices continued to moderate in October, sliding down to 3.5% from 3.7% in the month prior.
The tech-dense large-cap index barely made it into the green Friday but still managed to notch a third straight winning week.
The Nasdaq Composite led the pack Friday as all three major indexes booked weekly increases in quiet, no-news trading.
Fewer people than expected landed jobs in October. The news was a cause for celebration on Wall Street where indexes motored higher.
Jay Powell and his central bankers clique skipped an interest rate increase but left the door open for one in the coming months.
Wall Street’s tech-heavy index has pulled back more than 10% from its 2023 peak, entering what’s called correction territory.
America’s major tech firms are up next on the earnings board with Microsoft, Alphabet, Meta, and Amazon set to unveil Q3 financials.
The two tech companies usually move ahead of the pack and will deliver quarterly figures on Wednesday, after the closing bell.
The Fed minutes are due today and inflation data is on deck tomorrow. The prints will help investors anticipate the Fed’s next move.
At least for now, investors seem to accept that which they cannot change. Fresh jobs data pointed to a cooling labor market.
The month of losses stays true to its nature with stocks looking to close out their worst monthly performance of the year.
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