It was another winning week for the stock market amid thinner holiday trading conditions. S&P 500 is up 1.5%, while tech heavy Nasdaq Composite also closed the week on a positive note with a gain of 0.7%. The gains were consistent with a seasonal bias considering the market normally trades with a positive disposition during Thanksgiving week.
Friday’s U.S. jobs report for November will be the main highlight of the coming week as investors remain hopeful that the Federal Reserve will soon slow the pace of rate hikes. Remarks by Fed Chair Jerome Powell mid-week will be closely watched. PMI data out of China will also be under the spotlight amid concerns over a resurgence of COVID cases there.
Here’s what you need to know to start your week.
1. Fed Chair Powell Speaks
Fed Chair Jerome Powell is to discuss the economic outlook during an appearance at the Brookings Institution on Wednesday.
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