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US stocks closed mixed Monday while a meme stock rally was reignited following a string of recent market gains. Investors largely stuck to wait-and-see mode, with attention to an upcoming inflation report seen as a potential starting gun for interest rate cuts.
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Stocks rallied during a quiet week for economic data on Wall Street.
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The Dow eked out its eighth straight session of gains on Friday and closed out its best week of the year as US stocks finished the day mostly in the green. The gains came despite the three major indexes losing some steam earlier in the session after consumer sentiment hit a six-month low.
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US stocks rose on Thursday as a fresh earnings batch provided mixed results and a reading on unemployment claims showed evidence that the labor market continues to cool.
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US stocks were a mixed bag on Wednesday as investors tried to read the rate-cut runes and weighed a fresh batch of earnings reports for insight into the chance of a corporate America-spurred revival.
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US stocks finished close to where they started Tuesday but largely built on a string of gains amid growing hopes for rate cuts later this year. Meanwhile, investors soured on Disney's earnings, sending the stock down sharply.
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