Stock Market Updates: Annual Fed Meeting, PCE Data Will Drive Markets in The Week Ahead

Economic data in recent weeks has remained resilient, despite experts saying that interest rate hikes and balance sheet reductions from the Federal Reserve will lead to job cuts and lower productivity. The S&P 500 Index has bounced 15% from its June lows, and key technical indicators have boosted market participants’ confidence in recent weeks that a sustained rally could be on the cards. Over the past week, 90% of the S&P 500 stocks trading above their 50-day moving averages. Furthermore, market ‘breadth’ has also improved, with the number of stocks hitting new 52- week highs exceeding the number of new…...