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This uptick comes after a turbulent end to the previous week, which saw all major indices close in the red. The Dow recorded a 2.51% drop, marking its worst weekly performance since October, while the S&P 500 and Nasdaq Composite slipped by 1.66% and 2.51%, respectively. On Friday alone, the Dow fell over 700 points, with the S&P 500 and Nasdaq losing 1.7% and 2.2%.
Also Read: US Market Fall: Dow Jones ends 450 points lower, Nasdaq sulks as Walmart, banks weigh
The declines were driven by concerns about the state of the US economy, as February data raised alarms. Purchasing managers’ index (PMI) data revealed contraction in the US services sector, while consumer sentiment, as measured by the University of Michigan, came in weaker than expected.
Looking ahead, the week will bring crucial updates on corporate earnings and economic performance. Reports from Home Depot and Lowe’s, scheduled for Tuesday and Wednesday, will provide insights into consumer spending trends. Nvidia’s earnings report on Wednesday is also closely anticipated, given its pivotal role in the artificial intelligence sector. The company’s results will be particularly scrutinised following the emergence of the DeepSeek large language model from China, which has raised concerns over the potential impact on AI-related companies.
Additionally, Friday will bring the January data for the personal consumption expenditures (PCE) index, the Federal Reserve’s preferred measure of inflation, which could further influence market sentiment.
Despite the recent slide, US stock market indices remain within 4% of their all-time highs, indicating ongoing optimism amid economic uncertainty.
