SPX: Jobs data on the moveS&P 500SPCFD:SPXXBTFXThe S&P 500 continued with a correction also during this week, as investors assessed the latest U.S. macroeconomic data and its implications for Federal Reserve policy. The index finished little changed after fluctuating between gains and losses throughout the day on Friday, reflecting cautious market sentiment. Although the week started around the 7.500 level, still the week ended with a loss, and a close at 7.363. The key macro release was the May Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve's preferred inflation measure. Headline PCE rose by 0.4% m/m and 4.1% annually, while Core PCE increased by 0.3% on the month and 3.4% y/y. The figures matched market expectations but reinforced the view that inflation remains above the Fed's target, supporting expectations that interest rates could remain elevated for longer. Despite persistent inflation pressures, Treasury yields edged lower following the data release, offering limited support to equities. Investors continue to monitor incoming economic indicators, JOLTs and NFP, for further clues on the timing of future Federal Reserve policy decisions, with inflation and labor market data remaining the primary drivers of market direction. This week the healthcare sector was in the spotlight with stocks in biotech and pharmaceuticals as strongest performers. Market rotation also supported industrials. On the opposite side were information technology, communication services and energy sectors as outperformers on the market. The week ahead brings jobs data, JOLTs in May, NFP and Unemployment rate in June, which will most certainly imply higher volatility. A further correction in the index might be possible, until the macro picture becomes clearer and brings back optimism among investors.