Despite the strong finish for stocks last week there continue to be areas of concern.
Last week ended with the Dow Jones closing above 35,000 for the first time ever. But this advance is being driven by a narrow market from a breadth perspective. Small-cap stocks and the reopening sectors continue to struggle. We want to see a broadening out in participation and time will tell if this broadening out occurs when the case counts from the delta variant start to peak.
For the week ahead, there is a lot going on. We get second quarter earnings from big tech and big oil. We have the debt ceiling that expires at the end of this month. But the main event may be Wednesday’s Federal Reserve decision on interest rates. Rate hikes are off the table but what about the tapering of the bond-buying program? Is there any news on that and how does the market react post-Fed meeting?
For a more detailed market report head on over to our Insights page. Where there are some of the key economic data points to be released this week. Also, subscribe to our YouTube channel and check out some of our other social media pages.
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