“There was extreme volatility last week due to the CPI number. This week’s economic data is around manufacturing and housing. The housing market has hit the skids with higher interest rates, labor shortages, and supply constraints. Higher mortgage rates are affecting home sales. 15% of the S&P 500 Index or SPX companies are reporting earnings this week. Traders will be watching Tesla (TSLA) earnings closely, as well as Netflix (NFLX), and the airlines,” says Charles Schwab’s Michael Zarembski.
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