QVMM - S&P 500 Rises As Hot Jobs Report Pushes Back Expected Rate Cuts
2024-06-10 09:06:00 ET
Summary
- The S&P 500 index closed up by 1.53 over its previous week's close and even recorded a new record high of 5,354.03 in the middle of the week.
- The European Central Bank pulled the trigger on implementing a new series of rate cuts in a move aimed at boosting a weak Eurozone economy.
- An unexpectedly "hot" jobs report pushed back the expected timing for when the Federal Reserve will follow suit in the U.S.
The S&P 500 turned in a solid performance during the trading week ending Friday, 7 June 2024. The index closed up by 1.53 over its previous week's close and even recorded a new record high of 5,354.03 in the middle of the week. It slipped just a bit from that level to close the week at 5,346.99 ....
S&P 500 Rises As Hot Jobs Report Pushes Back Expected Rate Cuts