Wall Street ended a strong first half of the year on a somewhat sour note, with all three major U.S. stock averages closing lower Friday after a higher open. The Nasdaq inched up 0.24% for the week as tech bounced back. Meanwhile, the S & P 500 and the Dow Jones Industrial Average declined 0.1% over the past five sessions. With two quarters in the books, the tech-heavy Nasdaq has advanced 18.1% so far in 2024. The S & P 500 is not too far behind, up 14.
While it doesn't provide a direct read on inflation, it provides insight into consumer buying power, which for a consumption-based economy means the difference between continued growth and a recession. As of Friday, economists are looking for 195,000 payroll additions, a 4.0% unemployment rate , and a 4% annual increase in hourly wages , according to Dow Jones estimates. When considering wage inflation, anything above the rate of inflation — 2.