Earnings season has gone as well as it could have. Yet, the stock markets (SPY) have remained locked in a tight range and been quite choppy within it. Last week, we had a false breakout following an FOMC Meeting in which the Fed double-downed on its strategy. This week, we had a false breakdown on rumors of geopolitical tensions and increased concerns about higher inflation. This week's commentary will focus on these developments and updates on our market outlook. Read on below to find out more….(Please enjoy this updated version of my weekly commentary from the POWR Growth newsletter).
In last week’s commentary, we discussed the strong start to earnings season, improving economy, and favorable interest rate environment. And, why these factors support a bullish stance despite the choppy market environment.
Over the past week, we got tons of earnings releases, a steady stream of economic data, and an FOMC meeting, however, there was little impact in terms of the market as the S&P 500 remains stuck in a range between 4,100 and 4,200.