Monday Market Must-Knows: May 27,2024

Last week, the market was mixed: the S&P, Dow, and Russell were down, while crypto surged due to the Ethereum ETF announcement, though it dipped near week’s end. Nvidia shone brightly after strong earnings, propelling the NASDAQ to all-time highs and diverging it from other indices.

This week, the market will be closed on Monday, May 27, in observance of Memorial Day. Wednesday, notable earnings include Salesforce, Allegiant, UiPath, Abercrombie & Fitch on Wednesday, and Costco, Dell, Marvell, Dollar General, Ulta Beauty, and Best Buy on Thursday.

Housing market data is also crucial, with the S&P CoreLogic Case-Shiller Home Price Index and HPI month-over-month change both releasing Tuesday at 9:00 a.m. ET, followed by pending home sales on Thursday.

Lastly, the Core PCE Price Index, key for inflation insights, is expected at 3% on Friday, impacting market volatility and influencing Federal Reserve rate decisions amidst shifting expectations for 2024 rate cuts or hikes.

This Memorial Day, we honor the brave women and men who made the ultimate sacrifice for our Nation's freedom.

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