For the second-straight week, Wall Street proved resilient in the face of volatility-inducing headlines. U.S.-Iran developments, murky Fed rhetoric, SpaceX (SPCX) buzz, and oscillating oil prices all kept investors on edge this week. Through it all, the Dow nabbed multiple record closes, the beaten down tech sector is fighting back, and there's tentative peace in the Middle East. As the holiday-shortened trading week wraps up, all three major indexes are looking at back-to-back weekly wins.
All Systems Go For Semis, Memory Stocks
Micron Technology (MU) showed that the semiconductor selloff was overdone. Later in the week, memory storage stocks got another boost from Intel (INTC) and Apple (AAPL) teaming up. Elsewhere, AppLovin (APP) flashed a bullish quantitative signal, while Meta Platforms' (META) options bears could get burned.
June Could End With Fireworks
Next week will bring several closely watched economic reports, with investors eyeing manufacturing, housing data, and other key economic indicators. Traders will be particularly focused on Personal Consumption Expenditures (PCE) price index and core PCE price index data.
The earnings front is short with Blackberry (BB), Carnival (CCL), Darden Restaurants (DRI), FedEx (FDX), KB Home (KBH), MU,and Paychex (PAYX) on deck. SpaceX's IPO buzz hasn't faded much, but there are other space stocks worth monitoring as well. Plus, Senior V.P. of Research Todd Salamone tells us how to weather the volatility of crosswinds in today's equity markets.
