The Federal Reserve’s announcement last week sent shockwaves through the stock market, with investors reacting positively to the news that the central bank still expects to cut interest rates three times this year. Despite a slight pullback on Friday, the major averages finished the week with gains of over 2% across the board, reaching record highs.
As we head into the week ahead, investors are looking to cap off a strong first quarter of the year, with the Nasdaq and S&P 500 pacing towards double-digit-percentage gains. The economic calendar will bring the release of the February Personal Consumption Expenditures (PCE) price index on Friday, a key highlight for the week. This report contains the “core” PCE inflation, the Fed’s preferred measure, which is expected to show moderated price increases from the prior month.
In addition to the PCE data, the week will also feature housing data, consumer confidence measures, and earnings reports from companies like Walgreens Boots Alliance and McCormick. The IPO market also saw some action last week with Reddit going public, sparking discussions about whether the IPO window is opening up for more companies to follow suit.
Overall, the Fed’s announcement and the upcoming economic data releases will be closely watched by investors as they navigate the markets in the week ahead. Stay tuned for more updates on the latest stock market news and events.
