Stocks fell for a second straight week. With concerns of inflation remaining, technology stocks have been under pressure - last week, the S&P 500 shed 0.13%, the Dow Jones inched lower by 0.02% and the Nasdaq slipped 0.7%. This week, the Federal Reserve will have their next policy meeting - with inflation staying high and other recent economic data continuing to come in strong, it is all but certain that the central bank will keep interest rates unchanged.
Economic reports from last week came back mostly negative:
•Small Business Optimism - lower than expectation
•Inflation (Consumer) - in-line with expectation
•Inflation (Producer) - higher than expectation
•Retail Sales - lower than expectation
•Manufacturing (New York) - lower than expectation
•Consumer Sentiment - lower than expectation
•Jobless Claims - lower than expectation
This week, investors will look for guidance from economic reports like Housing, Manufacturing and Jobless Claims.
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