The U.S. stock market pushed higher last week and closed on a high note sparked by Federal Chair Powell's strongest signal yet that interest rate cuts are coming.

U.S. equity markets rebounded sharply last week on the back of healthy labor market and retail sales data alongside falling inflation reports that put soft landing expectations back in focus for investors.

The major U.S. equity indexes closed out a turbulent week almost flat with where they began after recovering from a sharp sell-off when markets opened on Monday.

Following a turbulent week in equity markets punctuated by a late week sell-off on a shaky July jobs report that stoked recession concerns, global equity markets continued to tumble in this week’s early trading as disappointing economic data has been exacerbated by an unwinding of a crowded carry trade and pressure on large tech stocks.

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