Hey everyone, Dan Passarelli here.
We ended this shortened week with the S&P 500 down 1.5%. While Friday’s move wasn’t massive, the week overall saw significant action. The catalyst? A strong jobs report that suggests a robust economy, potential inflation and likely no interest rate cuts on the horizon—something the market doesn’t love.
Looking ahead, next week is shaping up to be pivotal:
Monday’s open will reveal whether we see technical follow-through or a reversal.
Wednesday brings PPI, CPI and the Beige Book, giving us insight into inflation and Fed sentiment as we assess the economy’s close to 2024.
Earnings season kicks off, with the banks leading the charge. How they perform could set the tone for the market.
Take some time this weekend to reflect, recharge and get ready. It might just be another wild ride!
#TradingInsights #MarketUpdates #EconomicData
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