Wall Street experienced a steady performance following its best week of the year, with the major indices maintaining their gains. The S&P 500 index closed at 3,934.32, a slight increase from the previous week’s close of 3,933.68. The Dow Jones Industrial Average also held steady, closing at 32,819.45, up from 32,815.44 the previous week. The Nasdaq Composite Index closed at 11,544.45, a slight decrease from 11,549.45 the previous week.

The steady performance can be attributed to several factors. The Federal Reserve’s decision to raise interest rates by 0.75% was seen as a positive move, as it indicated a willingness to combat inflation. Additionally, the labor market remains strong, with the unemployment rate at a historic low. The strong labor market and the Fed’s actions have helped to alleviate concerns about a potential recession.

Despite these positive developments, some analysts are cautious about the market’s future performance. They note that the S&P 500 is still trading below its 200-day moving average, indicating that the market may be due for a correction. However, for now, the market appears to be holding steady, with investors continuing to show confidence in the economy’s ability to withstand current challenges.