Dow, Nasdaq, S&P 500 weekly preview: Markets brace for strong employment data
gained 0.8%, ending the week at 39,807.37. Both indices achieved record closes, with the S&P 500 reaching a new all-time high within the trading session. TheFor the entire first quarter, the S&P 500 saw a 10.2% increase, its highest first-quarter rise since a 13.1% rise in 2019. The Dow recorded a 5.6% gain for the period, its best start since a 7.4% increase in 2021. The Nasdaq concluded the quarter up by 9.1%.
The US government also announced an upward revision of the U.S. economic growth rate for the October through December period, now stating it grew at an annual pace of 3.4%, up from the initial estimate of 3.2%. The upcoming week also brings a lineup of key economic updates, with a spotlight on Jerome Powell's speech about the economic outlook slated for April 3.
More importantly, PCE data for February matched consensus forecasts, signaling a steady course for the Federal Reserve before it contemplates any interest rate reductions. Economists at JPMorgan forecast that nonfarm payrolls grew by 200,000 last month, compared to 275,000 in February.
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