Most Americans Still Feel Optimistic About Retirement. But Inflation Is Hurting Some Workers' Confidence
"Regardless of whether the market is sold out, you can argue tech, especially, is due for a bounce. Both Microsoft and Meta have rallied back to, but not quite through, their respective 50-day averages. These seem key points," Frank Gretz, a technical analyst at Wellington Shields, said in a note to clients on Friday.However, there is still some concern that valuations remain too high in parts of the market.
"The question becomes 'What will the Fed break?' If they stick to their verbal outline, their verbal commitment to price stability, how far are they willing to go and what do they see that can break?" asked Quincy Krosby, chief equity strategist for LPL Financial.