Wall St Week Ahead: Dovish Fed gives boost to US market rally

Investors in the coming week will be watching Friday's personal consumption expenditures price index that will offer the latest read on inflation.

NEW YORK: A reassuring economic outlook and dovish signals from the Federal Reserve are encouraging investors to look beyond the massive growth and technology stocks that have fueled the US stock market’s gains over the past year.

Though rallies in stocks such as Nvidia and Meta Platforms have been the market’s main individual drivers in 2024, the financials, industrials and energy sectors are also outperforming the S&P 500’s 9.7% year-to-date gain. That has eased worries that the market was becoming increasingly tied to the fortunes of a small group of stocks.