The Dow Jones and Nasdaq 100 indices have lost momentum in recent days as stock market volatility has picked up. The tech-heavy Nasdaq 100 Index slipped to 29,118 on Friday from its record high of 30,750, while the Dow Jones Industrial Average retreated from 52,650 to 51,880.
Investors are now turning their attention to four key events that are likely to shape the direction of U.S. stocks this week.
US Nonfarm Payrolls Data
The Dow Jones and Nasdaq 100 Indices will react to the upcoming US nonfarm payrolls data, which will shed color on the state of the economy. Economists expect the upcoming report to show that the economy added 114k jobs this month after adding 172k in May. The unemployment rate is expected to remain unchanged at 4.3%.
These numbers come as the Federal Reserve considers the next action on monetary policy. In his recent statement, Raphael Bostic hinted that the bank may hike rates later this year to counter the elevated inflation. This view matched what officials said in the last meeting.
