US indices look to data next week for the next push
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Major US indices are preparing to retest record highs next week after a slight increase this week. The S&P 500 index is up over 1% this week, thanks in part to a jump on Monday. The recent drop in the S&P 500 was halted near its 100-day moving average before bouncing back. The change in the Fed outlook, with traders now expecting two rate cuts instead of one, has helped boost stocks. Next week, the US will release PPI, CPI, and retail sales data, which will be important indicators for potential rate cuts by the Fed. If the data shows easing price pressures and a softening economy, traders may price in more rate cuts. Early signals of employment conditions turning around have already been seen. If other data points confirm this, stocks may start running again. The article asks whether softer US data will cause stocks to cool off or if stagflation risks and a weaker economy will lead to a more cautious approach from investors.

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https://www.forexlive.com/news/us-indices-look-to-data-next-week-for-the-next-push-20240509/