Stocks charged higher to close the week. The May Jobs report beat expectations. While that means a delay in interest rate cuts, the number is reassuring to investors that the economy is still rolling along, even if that’s at a slower pace.
Investors’ attention will now shift back to inflation. The latest reading on inflation comes next week with the Consumer Price Index (CPI) and Producer Price Index (PPI) readings coming on Wednesday and Thursday, respectively. The week will end with the latest read on consumer confidence. These will be the last data points for the Federal Reserve before its meeting on June 17 and 18, and it’s unlikely to prompt the Fed to change course.
This is a headline-driven market.
