June 10, 2024

Stocks Have a Winning Week

Latest Publications Stocks Have a Winning Week

Rate Cut Expectations Slip Further

U.S. stocks had a winning week coupled with a mixed payrolls report on Friday that strengthened views the Fed could keep rates higher for longer. Nonfarm payrolls came in stronger than expected while the headline unemployment rate climbed to 4%. Megacap technology stocks led the way higher, yet valuation concentration concerns resurfaced. Gains for the week peaked on Wednesday, with the S&P 500 closing the mid-week session at its 25th all-time high of 2024.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.