Published on 28 May 2024 on Zacks via Yahoo Finance
Beat the Market the Zacks Way: EverQuote, Micron, Amgen in Focus
The three most widely followed indexes closed out a mixed week last Friday. The Nasdaq Composite advanced for the fifth straight week, rising 1.4%, while the Dow Jones Industrial Average snapped a five-week rally by declining 2.3%. The S&P 500 ended the week virtually unchanged, gaining less than 0.1%.
The week was broadly characterized by fading investor optimism about the Fed announcing a rate cut anytime soon. FOMC minutes showed that, in fact, multiple Fed officials were in agreement that the central bank might have to opt for rate hikes if inflation did not come under control. Consumer outlook on inflation showed improvement toward the end of the week, giving the markets some breathing space.