This was nothing short of a crazy week. Too much drama about the Fed meeting to discuss the interest rate hike. There were few critical earnings reports that also added to the insane drama. Fed Chairperson Jerome Powell gave a few hints that the govt will raise interest rates in March. To be honest it did not make sense. If that was what their plan anyway, then why did they let the market speculate for weeks causing so many young investors to lose money, I just can’t agree with this. I want the Fed to be crisp, decisive and be clear. After a lot of losses in the first 3 days of the week, Friday was good. The market recovered. NASDAQ got back to where it started, and the Dow was up approx. 1% for the week.
This coming week is going to be fascinating. The employment data is expected to be out and a few large companies like Google/Alphabet, Facebook/Meta and my fav Amazon are all going to make earnings announcements. Let’s watch. I expect the week to be less volatile than last week
-Shreya