The Dow Jones Industrial Average registered its fourth winning session on Monday, lifted by hopes over Fed rate cuts.
showed that job growth came in below expectations in April and unemployment ticked higher. The results alleviated concerns that the economy was too hot and raised optimism around rate cuts from the Federal Reserve.— means that there are still questions surrounding the actual trajectory of inflation, according to Rob Haworth, senior investment strategist, wealth management with U.S. Bank.
"I think the market is looking for a bit of a tiebreaker in terms of what's happening with inflation," said Haworth. He added that he has become"a little more constructive" on his outlook due to ongoing economic strength. "Inflation is remaining persistent but not not accelerating to a problematic level. So we think there's room to own risk assets here," Haworth added.Tuesday will be relatively quiet on the economic front, with just consumer credit data from March scheduled for release in the afternoon.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyfor full-year revenue. First-quarter adjusted earnings were in line with expectations at 8 cents per share, per LSEG. Meanwhile, quarterly revenue of $634 million topped forecasts of $625 million.— The electric vehicle maker tumbled around 10% following its first-quarter results.
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