4 days ago
To watch this week? #Stocks #Biden #Oil #Tech #China #markets $SPY $QQQ #news
Expectations around inflation and recession should continue to drive markets. While quarterly portfolio rebalancing could be helping stocks this week, more meaningful positive catalysts from lockdowns in China, Russia-Ukraine, and if Biden is able to convince the Saudis to increase oil output could bring further gains for stocks. On the flipside, unexpected shocks such Russia blocking gas exports to Europe (would hurt Russia just as much), or renewed spike in oil or inflation expectations could bring renewed pressure to stocks. In couple weeks, FANGs earnings will be key to offer further clues to tech investors about the earnings picture and outlook given the more challenging environment. In the meantime, the source of the selloff (inflation/central banks, commodities, lockdowns, war, supply-chain bottlenecks) should remain center stage. On a technical picture, around 4'000 is the next major resistance on the S&P500.