Stock Market Update: S&P 500 and Nasdaq Test Record Highs as Stocks Fluctuate
Money | July 8, 2024, 1:23 p.m.
US stocks showed indecision on Monday as investors awaited key signals for the near-term direction of interest rates. The S&P 500 and Nasdaq Composite hovered near record levels, while the Dow Jones slipped slightly. Friday's jobs report indicated a cooling labor market, increasing expectations for a September rate cut by the Federal Reserve.
This week, events like Fed Chair Jerome Powell's testimony in Congress and the release of the Consumer Price Index could further support the case for a rate cut. Additionally, a left-wing coalition's victory in France's election and Boeing's guilty plea in relation to fatal crashes impacted the market.
Despite early losses, Tesla stock continued an impressive winning streak. Overall, investors are closely monitoring developments that could shape the future trajectory of the stock market and interest rates.