"There are very redeeming qualities, and yet short term momentum has certainly fallen off a little bit.
With large-cap technology names trading at high forward price-to-earnings ratio, Katie Stockton, founder and managing partner of Fairlead Strategies, says the buy story has become slightly less compelling for these shares. CNBC's Robert Hum and Yun Li contributed reporting. Traders will also watch for the personal consumption expenditures index, the Fed's preferred inflation gauge, which is due at the end of the week. It's a major week for industrial companies and big oil as well. Big tech earnings are on deck from Alphabet, Microsoft and Meta. Wall Street is anticipating earnings results from some 150 S&P 500 companies this week, or about 30% of the broader index. Traders will be listening to comments by Chair Jerome Powell to get a sense of the central bank's position on what happens next as it tries to navigate a soft landing for the economy. The Fed is widely anticipated to raise rates by a quarter percentage point at the conclusion of its meeting on Wednesday. Still, some market participants expect a major week for earnings, as well as the Federal Reserve's last policy meeting until September, could test the recent rally. So as long as there's no evidence of recession, and I think the market will probably continue to melt up people are chasing," Steve Eisman, senior portfolio manager at Neuberger Berman, said on CNBC's " Squawk Box." "So far, there's no evidence of a recession. For the week, the S&P 500 added 0.7%, while the Nasdaq Composite fell 0.6%. The blue-chip Dow eked out a 2.51-point gain on Friday, marking its longest rally since August 2017. Stocks continued to grind higher even after a 10-day advance for the Dow Jones Industrial Average. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 kommentar(er)
