Markets are looking to wrap up a brutal month, which saw the S&P 500 and Nasdaq indexes slip into correction territory.
NEW YORK, NEW YORK - JUNE 03: People walk by the New York Stock Exchange at the start of the trading day on June 03, 2022 in New York City. A new jobs report released by the Labor Department this morning shows employers added 390,000 jobs in May. Stocks pointed lower ahead of the opening bell on Friday, putting indexes back into the red for the week. This report is from today's CNBC Daily Open, our new, international markets newsletter.
A correction is when an index falls more than 10% from its most recent closing high. It's called a correction because historically the drop often "corrects" and returns prices to their longer-term trend., a busy earnings season to multiple inflation readings. A reading on personal consumption expenditures on Friday served as the latest evidence that American consumer spending remained healthy.
"As we forecast the rate of economic growth to slow and inflation to moderate, this allows the Fed to move to increasingly more accommodative language in early 2024 to prepare the market in advance for when they decide to begin cutting rates," Sekera wrote.
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