The U.S. inventory market managed to shut its sixth straight week of positive factors, with the S&P 500 Index closing the week at highest level since January 2022.
Market sentiment continues to be formed by the anticipation of Federal Reserve rate of interest cuts in 2024. But the euphoria surrounding these charge cuts was barely dampened on Friday by a stronger-than-expected labor market report and an sudden surge within the University of Michigan consumer sentiment for December.
Buyers now eagerly await the discharge of November’s inflation information on Tuesday subsequent week and the Federal Reserve Open Market Committee assembly on Wednesday.
The perfect-performing sector of the week was client discretionary, pushed by rallies in travel-related shares like Carnival Corp. CCL, Norwegian Cruise Line Holdings Ltd. NCLH and Royal Caribbean Cruises Ltd. RCL.
The worst-performing sector was vitality, as oil recorded its fifth consecutive week within the purple, the worst streak in 5 years.
Chart Of The Week: S&P 500 Closes At The Highest Degree Since Early 2022
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