Week ahead: Markets to test rebound with earnings, jobs data due
Wall Street is heading into another crowded and potentially volatile week, with investors juggling a heavy earnings calendar, a backlog of delayed US economic data and lingering nerves after a sharp risk-off move that rattled stocks and crypto.
The backdrop is eye-catching: the Dow Jones Industrial Average topped 50,000 for the first time last week. But instead of celebrating, markets are debating whether last Friday’s rebound marked a turning point or just a pause in February’s choppy trading.
Another 78 S&P 500 companies are set to report, including Dow components The Coca-Cola Company (NYSE:KO), McDonald's Corp (NYSE:MCD, XETRA:MDO) and Cisco Systems Inc (NASDAQ:CSCO, XETRA:CIS). Results are also due from ON Semiconductor (NASDAQ:ON), Ford Motor Company (NYSE:F), AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) and Applied Materials Inc (NASDAQ:AMAT, XETRA:AP2).
“With Big Tech earnings and spending announcements now behind us, the week ahead may see markets digest the news, reprice expectations and consolidate,” said Ipek Ozkardeskaya, senior analyst at Swissquote.
Artificial intelligence remains a key source of unease. “February is proving to be a choppy month for financial markets,” said Kathleen Brooks. “There continues to be an existential fear about AI.”