From Nasdaq: 2024-04-21 16:31:43

Last week saw market fluctuations amidst news of attacks and potential peace. Surprisingly, the Fed has almost entirely retracted talk of rate cuts for the year. Some previously high-flying stocks like Super Micro Computer (SMCI) and MicroStrategy (MSTR) suffered drops of over 20% as excitement waned.

Key events this week include major tech earnings, Flash PMI data, and pending home sales. Tesla, Meta Platforms, Microsoft, Google, and Intel are reporting earnings. Middle East tensions continue to escalate, impacting market volatility. Flash PMI data on Tuesday could result in market rallies on poor data or sell-offs on strong economic results.

Friday’s Core PCE data release could bring volatility as it’s a key indicator of inflation used by the Fed. A high reading might pressure the markets, while meeting or falling below estimates could bring strength back. Housing market concerns persist, with pending home sales figures influencing market reactions based on expansion or contraction.

Read more at Nasdaq: Tech Earnings, Middle East Tension and Other Key Things to Watch This Week