Stocks erase earlier losses in sharp reversal as Wall Street tries to end the week on a high note

Closing Bell: Overtime

Stocks are headed for a winning week, with the Nasdaq on pace for its second consecutive up week and its best weekly performance since November. The tech-heavy index is up more than 4% for the week. The S&P has advanced 2%, while the Dow has added more than 1%. "Frankly, the market has rallied pretty nicely over the last few weeks, absent a catalyst, and so there might be a little bit of profit taking out of earnings season going," Mayfield added., said it's preparing for the economy to "get worse than it's been over the last few quarters."

That followed December's CPI report, released Thursday, which showed prices declined 0.1% over November. While prices rose at a 6.5% pace compared to the previous year, the results heightened hopes that the Federal Reserve may soon slow its hiking.Chart analyst Katie Stockton said Friday that, entering the session, more than 60% of the S&P 500 was affected by short-term overbought conditions.

"You don't have to agree with the Fed's policy to believe them," said Lauren Goodwin, economist and portfolio strategist at New York Life Investments.

PERSONALLY I THINK JOE BIDEN SHOULD BE IMPEACHED FROM OFFICE FOR HAVING DOCUMENTS THAT HE WASN'T SUPPOSED TO HAVE!!!!

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Stocks pull back on Wall Street as earnings reports roll in | amNewYorkWall Street on Friday is giving back some of the gains from its strong start to the year, as earnings reporting season gets underway and CEOs show just how badly high inflation and a slowing economy are hurting them.
مصدر: amNewYork - 🏆 336. / 59 اقرأ أكثر »

Wall Street's rally signals more conviction in the market in 2023 - listen to 'The Homestretch'Jim Cramer also expressed some caution, with the market in overbought conditions ahead of Friday's kick off of earnings season. A transcript of 'The Homestretch' will be added here shortly.
مصدر: CNBC - 🏆 12. / 72 اقرأ أكثر »