Will June’s Positivity keep rolling?

Next week will be a holiday-shortened trading week, with U.S. markets closed on Tuesday for Independence Day in the United States.

What impact did the week have on the market?

• June’s Positivity:

The major U.S. stock indexes regained the ground they had lost the previous week and then some, as generally positive economic data lifted the S&P 500, the NASDAQ, and the Dow more than 2% each. For the NASDAQ, it was the ninth positive week out of the past ten.?

The S&P 500 and the NASDAQ both gained nearly 7% to record their fourth positive month in a row. The Dow climbed nearly 5% and posted its best month since November 2022. For the S&P 500, it was the best result since last October.

Source: The Motley Fool

• Inflation moderation:

The U.S. Federal Reserve’s preferred gauge for tracking inflation showed that consumer prices rose in May at the slowest monthly pace in two years. The Personal Consumption Expenditures Price Index rose at a 3.8% annual rate, down from a revised 4.3% figure in April. Excluding volatile food and energy prices, core inflation rose 4.6% in May versus 4.7% in April.

Source: CNN

• Market Calm:

An index that measures investors’ expectations of short-term U.S. stock market volatility rose slightly, snapping a string of five weekly declines in a row. On Friday, the Volatility Index closed at 13.6—just above its level before the start of the COVID-19 pandemic and down 32% from a recent high on May 24.

Source: Seeking Alpha

Check out the Top 5 stocks in each industry:

What to expect for the markets next week?

• Jobs Update Ahead: A monthly U.S. labor market update due out on Friday will show whether unexpectedly strong recent job growth extended into June. In May, the economy generated 339,000 new jobs, exceeding most economists’ expectations by a wide margin and up from 294,000 added in April. May’s unemployment rate rose to 3.7%.

• FOMC Meeting: The Federal Reserve will release meeting minutes from its latest policy meeting on Wednesday, July the fifth.