Markets End Mixed week with Nasdaq at Record High; Focus Turns to Economic Data and Powell Speech
• Markets closed mixed on Friday; S&P 500 and Dow fell slightly, while Nasdaq hit record highs. Major indexes saw strongest weekly gains this year after Fed projected 3 rate cuts.
• This will be a short holiday week with Good Friday market closure. No major earnings, so focus will be on economic data releases and Powell's upcoming speech.
• Key data is Friday's Core PCE price index report to gauge inflation trends and Fed policy direction. CPI and PPI showed persisting inflation.
• Notable stock movers Reddit surged post-IPO then corrected; Micron rallied on earnings beat; Nike and Lululemon fell despite beats on weak guidance; FedEx jumped after strong quarter.
• Upcoming events earnings from TD Synnex, GameStop, Cintas, Paychex, Walgreens; ex-dividend dates for Realty Income, Edison, Keurig Dr Pepper, Amdocs, Dick's Sporting Goods, Deere.