Well,…. This week was a little better. A few of my best technology stocks gained value and catalyzed the market for the first few days but by Thursday, Facebook/Meta announced their pretty rough results. I had a gut it will be bad. In even I blogged about it a few weeks back. This not only created a tanking effect and pulled the rest of the market down. I never imagined we will see time when Facebook will looooooose 24% of its value in one shot. Holy macro…That was painful.
Friday was good again and saved the day. The net of the week is that that DOW and S&P rose an average 1.5%l Nasdaq was up 2.45%. Looks like the week started with a bang and ended almost where it started….bummer!
I expect retail sensitivity and market volatility this week. We have a few companies that will announce their results. This includes
Coinbase
CVS
Disney( my fav)
Pfizer,
and
My lunch (Just kidding !!…Uber, Chipotle, Coca-Cola and Pepsico to announce earnings),
Putting company earning saside, the US Labor Dept’s Consumer Protection Index(CPI) is also something we should watch
Have a great week.