Published on 26 May 2024 on TheStreet via Yahoo Finance
Wall Street faces a series of market-specific tests over the holiday-shortened week as investors shift focus from the outsized profits reported by the megacap tech giants to broader concerns about the health of the U.S. consumer and stubborn inflation pressures.
Big Tech earnings, as well as the promise of an autumn Federal Reserve interest rate cut, have powered stocks through a surprising spring rally that has lifted the Nasdaq Composite to records, sent the Dow past the 40,000-point mark, and put the S&P 500 on pace for its best May gain since 2009.