With renewed Covid concerns due to increased cases, the stock market favored large cap growth and technology. This explains why the Nasdaq could finish the week at a record high on the same day the Dow Jones fell over 260 points.
For the week ahead, it’s a short trading week but it could be a big one for the markets. First, do we get a Fed chair announcement? Breaking news: just prior to this taping President Biden will renominate Jay Powell. For economic data, we get consumer confidence and housing data. Consumer confidence has taken a hit due to inflation, but it hasn’t stopped consumers from spending. The key question is does it at some point?
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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