Dread that more trouble could be unearthed in the banking sector has created a cloud of worry around markets that will not easily be shaken.
In the week ahead, the Federal Reserve has its chance to weigh in. Following its meeting Tuesday and Wednesday, the central bank could raise the fed funds rate by another quarter point. It will certainly release new quarterly projections for the economy, including forecasts for inflation and interest rates. The futures market Friday put odds for a quarter point rate hike from the central bank at about 70%.
line tec "They're being treated as safety right now," said Sohn. "It's rare to have any stock alone to have a weight of more than 6%." Schwab's Sonders said the buying in Big Tech was a flight-to-safety within the sector itself. "Big Tech a year ago looked pretty bad just because valuations were so stretched. There was carnage there. Valuations are more reasonable, but they're not cheap," she said.
begins its meeting 10:00 a.m. Existing home sales Wednesday 2:00 p.m. statement and projections 2:30 p.m. Fed Chairman Jerome Powell briefing Thursday 8:30 a.m. Initial claims 10:00 a.m. New home sales Friday 8:30 a.m. Durable goods 9:30 a.m. St. Louis Fed President James Bullard 9:45 a.m. S & P Global Manufacturing PMI 9:45 a.m. S & P Global Services PMI
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