A furious rally on Wall Street to start 2024 took a breather at the beginning of the final week of the year's first quarter. Futures on the S&P 500 fell 0.4% before the opening bell. The Dow Jones Industrial Average looked to fall a more modest 0.2%, while futures tied to the tech-heavy Nasdaq Composite plopped 0.6% after the index set another record at Friday's close. The S&P and Nasdaq have opened 2024 on a heater, as both indexes are up near 10% to start the year.
The highlight of the week on the economic data front will come on Friday with the release of the Personal Consumption Expenditures price index, which contains the Federal Reserve's preferred "core" PCE inflation measure. Read more: What the Fed rate decision means for your money The Fed helped fuel the market's bull run last week, as the central bank reaffirmed expectations that it will cut rates three times this year while also issuing more bullish forecasts on the economy.
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