Wall Street experienced a rollercoaster week, with Friday’s bounce back providing a glimmer of hope after a series of losses. Despite the positive end to the week, concerns about Federal Reserve interest rate cuts and escalating geopolitical tensions loomed large over the market.
The Dow Jones Industrial Average, S & P 500, and Nasdaq all finished lower for the week, reflecting the overall uncertainty in the market. The U.S. oil benchmark, West Texas Intermediate crude, saw a significant 4.5% increase for the week, driven by supply concerns due to conflicts in the Middle East and Ukraine.
Looking ahead, investors will be closely monitoring two key inflation reports – the March consumer price index (CPI) and the March producer price index (PPI). These reports will provide insight into the state of the economy and could influence the Fed’s decision on interest rate cuts.
Additionally, the upcoming earnings season will kick off with reports from Constellation Brands and Wells Fargo. Constellation Brands will be focusing on beer sales momentum, while Wells Fargo’s guidance may be revised higher due to changing expectations around Fed rate cuts.
Overall, the market remains volatile as investors navigate through a mix of economic data, geopolitical tensions, and corporate earnings. The coming week will be crucial in determining the direction of the market and how investors will react to the latest developments.
