The News Teller: Stock Market Hits Record Highs Amid Federal Reserve Testimony and Corporate Earnings Reports
The stock market has been on a record-breaking streak, with the S&P 500 and Nasdaq closing at all-time highs last week. The S&P 500 has seen a remarkable rise in 16 out of the past 18 weeks, a feat not achieved since 1971.
Investors are now eagerly awaiting Federal Reserve Chair Jerome Powell’s testimony and the release of the February jobs report, which are expected to test the stock market’s rally. Updates on economic activity in the services sector and job openings are also anticipated this week.
Major consumer brands like Target, Costco, and Kroger are set to report their corporate results, adding to the mix of market influences. Investors will be closely watching for updates on the US economy, inflation, and the potential for interest rate cuts from Powell.
The state of the labor market will also be a key focus, with the February jobs report scheduled for release on Friday. Earnings season is winding down, with projections showing continued earnings growth for the S&P 500.
Historical data suggests that stocks may continue to rise, as positive results in January and February often lead to strong performance throughout the year. An overview of the economic and earnings calendar for the week provides a snapshot of what to expect in the coming days.
As the stock market continues to break records and economic indicators point to steady growth, investors are navigating a complex landscape of factors that will shape market activity in the weeks to come. Stay tuned for more updates on The News Teller.
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