With the stock market rally at its most fragile stage in months, big tech earnings, a reading on economic growth and a fresh inflation print are set to greet...
This week, critical readings on economic growth and inflation, as well as the start of Big Tech earnings, will determine if the malaise continues.
"Incoming data continue to point to ongoing economic resilience in an environment of higher rates," Bank of America US economist Michael Gapen wrote in a note to clients on Friday. "The consumer continues to remain strong. The economy has cooled modestly since the outsized 4.9% growth rate seen in 3Q, but what cooling there is has been gradual.
"Given these extended valuations , even good news may not be good news, particularly in these names that have run as far as they have," Emanuel said.With earnings reports not satisfying investors, the baton will be passed to one of the strongest parts of the market over the past year: Big Tech.), earnings growth expectations are still sky-high for Meta, Microsoft, and Alphabet, which are all expected to report in the week ahead.), are expected to have grown earnings by 64.
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