A dealer wears a t-shirt with Reddit’s emblem, on the New York Inventory Alternate (NYSE) in New York Metropolis, U.S., March 21, 2024. Brendan McDermid | ReutersStocks slipped on Friday, however the main averages headed for a profitable week and the Dow Jones Industrial Common barreled towards its greatest week of the yr. The Dow Jones Industrial Common dipped 40 factors, or 0.1%, and hovered near the 40,000 degree. The S&P 500 inched down 0.1%, whereas the Nasdaq Composite fell 0.2%.All three main averages are monitoring for wholesome positive factors this week, with the S&P 500 on tempo for a 2.4% pop and the Nasdaq rising 2.6%. The Dow is the outperformer of the three, up 2.7% by way of Thursday’s shut and on tempo for its greatest week since December.FedEx rose greater than 8% after posting adjusted earnings that beat analyst estimates, whereas Nike sank 8% on disappointing steerage and slowing China gross sales. Lululemon slid 17% on weak steerage and slowing progress in North America, and headed for its worst day since March 2020. The main indexes closed at document ranges on Thursday for a second day, and hit all-time intraday highs. Thursday was the fourth straight profitable session for the three indexes.One motive for this market optimism would possibly stem from the policymaking Federal Open Market Committee’s expectation for 3 fee cuts this yr even after a few sizzling inflation stories, in line with Artwork Hogan, chief market strategist at B. Riley Wealth.Buyers have “all the time been extra aggressive on fee hikes and extra aggressive on fee cuts than the fed funds futures markets, however the Fed has delivered by way of the dot plot and we lastly lined up,” he mentioned.”You get a few inflation information factors which can be a contact hotter, and I feel realistically the Avenue’s thought course of has grow to be way more rational and features up properly with the place the Fed is true now,” Hogan added.