Investors set their sights on Upcoming Inflation Report this Friday
Another week, another start to the waiting game...
A huge inflation report is due at the end of this week as the market attempts to show some form of a rebalances in the upcoming trading week. Last week, stocks sucked ass and struggled to move forward. Friday saw a huge sell-off and the major indexes closed out with losses. Before Memorial Day, the S&P 500 gained nearly 6.5% and investors were looking for a repeat.
“The type of rally like we saw last week and some of what it contained looks a little more typical of bear market rallies. I still think you’re likely to get countertrend pops in some of the more speculative areas of the market. ... But I think very decidedly the low-quality trade is in the rearview mirror. I think to do well in this environment you have to be value-minded. Not value indexes, but valuation minded.”
Liz Ann Sonders, Charles Schwab's chief investment strategist, said.
With the S&P 500 dipping into a dreaded bear market for a short period of trade on May 20th, it is being said that the current market condition is equivalent to that of a bear market. Sharp declines have been recorded for individual stocks thus weighing down the total market.
“I think the sentiment environment is not universally bearish enough yet.”
Liz Ann Sonders said.
Read more on what to expect Friday HERE