From Investing.com: 2024-09-16 08:06:26

Stocks posted their best weekly performance of 2024, with the S&P 500 rising 0.54% and the Nasdaq increasing 0.65%. Mega-cap tech and semiconductor stocks drove the rally, leading to gains of 4% for the S&P 500 and 5.9% for the Nasdaq for the week. The Dow also saw a 2.6% rise. All eyes are now on the upcoming Federal Reserve meeting, where a 25 basis point rate cut is expected. JPMorgan economists suggest a 50bp cut, while Nomura predicts a 25bp cut, with ongoing uncertainties about the market reaction and future rate cuts. Key economic events this week include retail sales and jobless claims reports. Analysts believe the trajectory of growth will drive stocks higher, with tech stocks expected to gain from the Fed’s rate cuts and macroeconomic conditions.



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