05/04/24 Briefing

A robust jobs report couldn't save stocks from weekly losses as a spike in oil prices amid tensions in the Middle East and worries over the Federal Reserve's rate cut path put a damper on the market's hot start to the year.

For the week, the Dow Jones Industrial Average (^DJI) led the losses, falling nearly 2.3%, or more than 900 points. This marked the Dow's worst weekly performance in more than a year. Meanwhile, the S&P 500 (^GSPC) fell nearly 1% and the tech-heavy Nasdaq Composite (^IXIC) slipped 0.8%.

In the week ahead, a fresh reading on inflation and the start of first quarter earnings season will greet investors.

On the corporate front, JPMorgan (JPM), Wells Fargo (WFC), BlackRock (BLK), and Citi (C) are set to report earnings along with Delta Air Lines (DAL).

Elsewhere in economic news, minutes from the Federal Reserve's March meeting and an update on consumer sentiment are on the schedule.