Breaking down the market's wild week | Cramer's week ahead | Santoli on the stock shakeout
| EDITOR'S NOTE
It was a wild week for stocks, starting with three days of declines led by tech shares. The week ended with a sizable snapback.
Big retailers roll out earnings in the week ahead and there is a batch of housing data on the calendar. But the markets again will be focused on the Federal Reserve after April's surprisingly hot inflation numbers released in the past week.
The Fed releases the minutes from its last meeting and there is a parade of Fed speakers, including Fed Vice Chairman Richard Clarida. Investors want to know if the Fed really thinks higher inflation will go away soon, now that it has begun to show up more broadly. That has a direct bearing on when the Fed would begin to ease policy.
Stocks rallied Thursday and Friday, but not enough to erase the week's losses. The challenge for the market is whether tech can hold its ground.
"The tech sector, which has been under pressure, held its yearly uptrend earlier in the week. Today it felt a little better than the rest of the week," said one strategist on Friday. "It doesn't mean you can go into everything, but you can tell traders are picking away at better acting stocks at these prices."
THE WEEK AHEAD
MICHAEL SANTOLI'S MARKET COLUMN
ACTIVIST SPOTLIGHT
YOUR WEEKEND BRIEFING
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post a Comment