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Wall St Week Ahead: Tech earnings to test markets' 'most crowded' trade

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A blistering rally in megacap growth and technology shares has buoyed markets this year, and earnings reports in coming weeks could help investors determine if those gains are justified.

in March with 9,000 cuts, and others that bring the total to 27,000 layoffs over recent months.

Stimpson is overweight technology and cutting back on his energy exposure in anticipation of a recession. Still, gains could fizzle if the Fed does not cut interest rates this year, as widely expected. While the central bank has projected borrowing costs will stay around current levels until year end, investors are pricing rate cuts after the summer.

 

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What to watch for in the markets in the week ahead: Monster tech earnings, then sell in May?One investor is worried about the outlook the rest of 2023. 'Valuations are already so high, I think a lot [optimism] is already in the price,' he says.
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