Powell's Testimony & The Employment Report Should Be Key This week
Chairman Powell's Washington testimony & Friday's employment report should be the key this week. However, we'll also be watching the housing stocks as well. Higher interest rates create headwinds for many areas.
- Nice bounce off the key support level for the S&P 500 is encouraging…but it needs to hold.
- With interest rates rising and earnings estimates falling, the stock market faces larger headwinds. Thus, Chairman Powell’s testimony and Friday’s employment number should be quite important this week.
- The housing stocks had a rough February. Their action over the next week or two is going to be very telling.