The US jobs data for February and US Federal Reserve chairman Jerome Powell’s congressional appearance will be the main topics of interest for Wall Street investors this coming week. Investors may be able to deduce the US central bank’s interest rate intentions for this year from the two significant events.
The next policy decision by the Federal Reserve Open Market Committee (FOMC) is expected to be announced on March 20.
Economic occurrences
On March 5, information about industrial orders for January and an analysis of ISM services for February will be made public. Congress will hear testimony from Fed Chair Jerome Powell on March 6 and 7. Additionally, figures on the US trade balance for January will be released on March 7.
Profits
GitLab, Stitch Fix, Target, NIO, Ross Stores, Brown-Forman, Campbell Soup, Foot Locker, Abercrombie & Fitch, Victoria’s Secret, Kroger, Bilibili, Costco, Broadcom, Gap, Marvell Technology, DocuSign, Genesco, and America’s Car-Mart are some of the companies that are involved in this.
Current status
Wall Street ended the week higher. To reach 5,137.08, the S&P 500 increased 40.81 points, or 0.8%. At 39,087.38, the Dow Jones Industrial Average increased by 90.99 points, or 0.2%. The Nasdaq composite reached 16,274.94, up 183.02, or 1.1%.
The S&P 500 has risen 7.7% so far in 2024 and is at a record high. From 149.98 Japanese yen to 150.12 yen, the US dollar increased. The euro increased from $1.0803 to $1.0841.
Late on Thursday, the yield on the 10-year Treasury dropped from 4.25 percent to 4.18 percent. The yield on the 2-year Treasury fell from 4.62% to 4.53%.
May’s delivery of Brent crude saw a $1.64 increase to $83.55 a barrel. The price of an ounce of gold for delivery in April increased by $41. An ounce of silver for May delivery increased by 47 cents to $23.36.
