The S&P 500 notched another record high last week but slipped on Friday after the weak jobs report for August. The index ultimately posted a gain of 0.3% for the week, its fourth in the past five weeks.
U.S. stocks were struggling in early-afternoon trading Friday, as the latest jobs data for August helped revive investors' worries about a slowing labor market.
The S&P 500 SPX ran into some trouble at the start of September — often cited as the worst month, historically, for the stock market. But the index is finding support in the 6,340-to-6,360 area, and this sets the stage for another move to new all-time highs.
The share of active large-cap managers beating the S&P 500 rose during the first half of the year, data show. The number of stocks outperforming the index has also increased.
U.S. stocks are trading at high valuations relative to historical averages, pointing to a long period of weak performance.
A structural tech-driven bull market has much further to go says Evercore's Emanuel.
The equal-weight version of the S&P 500 just booked its longest streak of monthly gains since 2021.
A chemicals company and chip maker topped the list of gainers, while tech companies rounded out the biggest losers.
Core PCE inflation is forecast at 2.9% today. A hot print could cap Fed easing while a softer read may lift US stocks and support rate cut hopes.
Wall Street expected Nvidia, the world's most-valuable company, to deliver record results after Wednesday's close.
The U.S. stock market faces a Big Tech test this week.
Tech, consumer and industrial companies, and utilities have powered the index higher. They could keep gaining for a while.