Market Overview Analysis by Ipek Ozkardeskaya covering: Nasdaq 100, S&P 500, Microsoft Corporation, Alphabet Inc Class A. Read Ipek Ozkardeskaya's latest article on Investing.com
pushes above 5% ahead of US GDP and PCE updates. Four of Magnificent 7 are due to report earnings this week.kicks off the week under selling pressure, near the $81.50pb level. But the $80pb psychological level, which also coincides with the major 38.2% Fibonacci retracement on December to April rebound, will likely act as a strong support to the actual retreat as the Middle East tensions could resurface anytime.
Is it a bad thing? Robust growth is good news for everyone if inflation continues to slow. Otherwise, it’s bad news, because it means that the Fed should try harder to fight inflation by keeping its monetary policy at a sufficiently restrictive level to slow down the economy and eventually push it into recession. Therefore, the combination of growth and inflation will give investors the next indication regarding how far the Fed stands from its first rate hike.
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