Stock market sees fourth straight weekly gain with lower inflation data and mixed company earnings.

From Nasdaq.: 2024-06-28 14:36:58

The S&P 500 and Nasdaq are set for their fourth straight weekly gain, while the Dow eyes a second consecutive win. Nike sees a significant drop after earnings. Inflation data shows the core PCE price index at 2.6% annually, with a 0.1% rise for May, the smallest increase in seven months.

Rivian Automotive receives a new “buy” rating, and secures up to $5 billion from Volkswagen. Sector peers like Aptiv face pressure. Amazon’s investment boosts its market cap above $2 trillion for the first time. Planet Fitness, IBM, and Anheuser-Busch receive bull notes, while Sea and Penn Entertainment face downgrades. Robinhood and Digital Realty Trust are upgraded.

Next week, expect economic data despite the holiday, with comments from Fed Chair Powell. Analysts discuss the impact of a low VIX on stocks, and highlight eight outperforming stocks alongside megacaps.



Read more at Nasdaq.: Earnings, Inflation Data Highlight Winning Week