Stocks advanced last week despite some intra-week volatility, punctuated by comments from Fed Chair Powell, who said the central bank doesn’t “need to be in a hurry” to lower interior rates further.
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The “Goldilocks” narrative—an economy that’s neither too hot nor too cold—made a comeback last week.
The two economic reports on Tuesday—job openings and the prices-paid index among service companies—raised fresh inflation concerns.
Stocks finished the week mixed, bookending losses around midweek gains as investors digested fresh inflation data.
There were signals of some uncertainty about the pace of future rate cuts, which slightly unsettled the markets.
With the election on the horizon and quarterly earnings season in full swing, it was the sixth straight week of gains.
Stocks were essentially unchanged last week as geopolitical tensions added some volatility to an otherwise quiet trading week.