Stocks Analysis by Fawad Razaqzada covering: Nasdaq 100, Microsoft Corporation, Invesco QQQ Trust, Alphabet Inc Class A. Read Fawad Razaqzada's latest article on Investing.com
After recent market rebound, focus shifts to earnings reports from tech giants like Meta and Microsoft.
It is essential that this support area holds now, else we could see another dip into the longer-term support zone between 408.71 to 412.92 . Although QQQ didn’t quite touch this area on Friday, the corresponding zone held on the underlyingThe positive sentiment surrounding a resurgence in the US technology sector has bolstered stocks.
GDP is expected to print 2.5% in Q1 on an annualized format on Thursday, which together with core PCE that will be released a day later, will put the focus back on the interest rates outlook.is expected to print another strong 0.3% month-over-month reading on Friday. If so, this will likely mean elevated interest rates are going to stay with us for longer. The PCE data will influence the Fed’s upcoming policy decisions.
But the rising yields means the cost of interest on US Federal debt is starting to get out of control. The annual payment on interest expense alone is now at a staggering $1.1 trillion. Just a few years back, it was less than half this figure. With interest rates high and debt levels breaking record levels, thanks to continued deficit spending, the US appears to be on an unsustainable fiscal path.
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