Markets Face Key Test After Record Wall Street Run
S&P 500 posted its ninth weekly gain as U.S. stocks set more records, keeping the rally alive. Investors are now looking ahead to the next jobs report, bond yields, and what’s next for the artificial-intelligence trade. The NYSE is closed Saturday. This week’s session was already shorter because of the Memorial Day market holiday on May 25. Investors are putting money into growth linked to AI — that is, artificial intelligence software and hardware for automating computing — despite inflation staying above the Federal Reserve’s 2% target. A strong jobs report might raise bets on more rate hikes, while softer data could help keep the rally going.