The Nasdaq and S&P 500 have hit record highs while the Dow climbed to a more than one-month high as investors await a key inflation report, Federal Reserve Chairman Jerome Powell’s testimony before Congress and the start of earnings season.
Expectations that interest rates could be cut as early as September gained new momentum after Friday’s nonfarm payrolls report showed that U.S. job growth slowed in June, the latest data to point to weakness in the labor market.
Subscribers with digital access can view this article.
Are you already a subscriber?