The Market Brief
Hey team, the structural weakness yesterday led to a collapse, bringing us back to Friday's range and negating the buying advance.
Let’s discuss yesterday’s session, what happened leading up to that moment, and see what’s next!
Macro Viewpoint
Stock futures are relatively flat after the S&P 500 edged down from its recent high.
On Tuesday, Wall Street's major indexes closed lower, with the Nasdaq falling 1%, driven by weakness in chip stocks amid demand concerns. The energy sector also declined, dropping 3% as oil prices slid.
This week’s earnings reports have been mixed, with strong results from major banks partially offset by weaker outlooks from other sectors.
Despite the lack of economic data earlier in the week, earnings remain the primary focus for the market. Tomorrow’s key reports will be unemployment claims and retail sales figures.