Stock Market Weekly update -Feb 8
The S&P 500 ended mostly flat again last week, though again with large up & down swings, as AI, Software stocks, and Crypto sold off, but then saw a huge recovery on Friday with the DOW rallying 1200 points to close above 50,000 for the first time! However the NASDAQ was down for the week. AMZN, AMD, QCOM, PYPL, & PLTR dropped on earnings. MSFT & NFLX dropped for yet another week. KO, PEP, WMT, AMGN, CAT, & XOM rallied again (mostly Dow stocks). Next week we have a number of economic reports that could affect the markets. Bitcoin drops 15%, briefly breaking below $61,000 as sell-off intensifies, doubts about crypto grow US job openings fall to 6.5 million, fewest since 2020, as labor market remains sluggish The week ahead: 5th week of Earnings - Delayed Monthly Jobs report PPI & CPI Schwab Weekly Trader's Outlook Edward Jones recap The 10 year Interest rate -mostly flat at 4.21% The Dollar - up slig...