Published on 27 Jun 2022 on Zacks via Yahoo Finance
J.P. Morgan Sees 7% Jump in Markets for This Week: ETF Picks
Wall Street jumped on the final trading session of last week, with the S&P 500 snapping a three-week losing streak as investors digested the Federal Reserve officials' latest affirmations that they are focused on lowering inflation. Powell's assertion that the Fed's commitment to handling inflation is "unconditional" indicated that the central bank would not stop hiking rates in modest signs of economic slowdown or recession.
The S&P 500 advanced by more than 3% on Friday, logging back-to-back days of gains and marking its first weekly advance since late May. The S&P 500 (up 6.45%), the Dow Jones (up 5.4%), the Nasdaq Composite (up 7.5%) and the Russell 2000 (up 6%) gained handsomely last week. JPMorgan expects this week as well to be big for the markets, as quoted on CNBC.
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