Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
U.S. stocks capped one of their strongest weeks in months as softer-than-expected labor market data and resilient corporate earnings fueled a broad rally across Wall Street. The S&P 500 closed at a fresh record high, while the Nasdaq Composite and Dow Jones Industrial Average posted their best weekly gains since April. Investors welcomed signs of a cooling jobs market, viewing them as reducing the likelihood of another near-term Federal Reserve rate hike while supporting hopes for a soft economic landing.
Technology stocks once again led the advance, with semiconductor and AI-related companies rebounding after several weeks of volatility. Strong earnings from cloud software and technology firms reinforced confidence in artificial intelligence spending, helping offset weakness in a handful of hardware and industrial names.
Looking ahead, investors are turning their attention to next week’s inflation data, which is expected to play a key role in shaping expectations for Federal Reserve policy. While easing labor market conditions have improved sentiment, rising energy prices and elevated Treasury yields continue to pose risks to the market outlook. With stocks back at record highs, analysts say upcoming CPI data and additional earnings reports will determine whether Wall Street’s rally can extend into the late summer.
