Dow Jones, Nasdaq, S&P 500 weekly preview: Economic data still key for stocks

For the week, the S&P 500 was down just 0.04%, having briefly turned positive during Friday's session before giving back some gains. Meanwhile, the Dow and Nasdaq ended the week lower by 0.6% and 0.18%, respectively.

According to Goldman Sachs strategists, upcoming data releases that shed light on the economic outlook will play a key role in determining whether the equity market continues to be driven by macroeconomic factors or shifts back to the micro-driven environment seen in the first half of 2024. As mentioned earlier, Walmart’s upcoming earnings report will be among the closely watched developments in the coming days.

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