Here are the top 5 market highlights to keep an eye on in the upcoming week:
Nonfarm Payrolls: The monthly jobs report on Friday will be closely watched by investors, who are assessing the potential timing of the first interest rate cut by the Federal Reserve. Currently, expectations point to June, as there's optimism that the central bank can orchestrate a gentle economic slowdown.
Powell Testimony: Prior to the jobs data release, investors will hear from Fed Chair Jerome Powell during his semiannual testimony on monetary policy. He'll address a House committee on Wednesday and a Senate panel on Thursday.
Stock Market Rally: February saw the Dow, the S&P 500, and the Nasdaq mark their fourth consecutive month of gains. The rally, largely driven by AI-related growth prospects, has also boosted semiconductor stocks.
ECB Decision: The European Central Bank (ECB) is scheduled to meet on Thursday, with no anticipated policy changes. Investors will be attentive to any indications from officials regarding discussions on rate cuts.
Oil Prices: Last Friday saw an increase in oil prices, coupled with weekly gains, as traders awaited decisions from OPEC+ regarding supply agreements for the second quarter. Additionally, they are evaluating new economic data from the U.S., Europe, and China.
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