- Posted on November 25, 2024
- News
- By FC Team
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Investing.com -- The Dow Jones Industrial Average closed at a record high on Friday, wrapping up a strong week for US stocks.The Dow climbed 426.16 points, or 0.97%, to settle at 44,296.51, marking its highest close ever and extending its winning streak to three sessions. Meanwhile, the S&P 500 edged up 0.35% to 5,969.34, securing gains for the fifth consecutive day.The tech-oriented Nasdaq Composite rose 0.16% to close at 19,003.65. However, the index's growth was limited by declines of 3.2% in Nvidia (NASDAQ NVDA) and 1.7% in Alphabet (NASDAQ:GOOGL).Over the week, the Dow advanced around 2%, while both the S&P 500 and Nasdaq saw gains of approximately 1.7%. This performance comes as a reversal from the prior week, when Wall Street's rally following the election showed signs of slowing.This week, markets will turn their attention to the release of the FOMC minutes and October’s inflation data for the core Personal Consumption Expenditures (PCE).JPMorgan strategists expect the core PCE deflator to have increased by 0.31% month-over-month in October. If accurate, this would lift the year-over-year rate to 2.8%, up from 2.7%.“We also look for continued softness in core capital goods, with orders only up by 0.1% in October and shipments turning positive, rising 0.2% on the month,” strategists added.Economic data 'to confirm that we have much to be thankful this year'In addition to PCE and FOMC minutes, several more key economic indicators are set to be released this week, condensed into the first three days before the Thanksgiving holiday.