The stock market's first week after the Big Tech earnings extravaganza went about as well as any investor could have hoped. The initial mixed bag of earnings gave way to general bullishness as AI's spending worries receded somewhat.
And with Friday's jobs report surprise, Fed rate bets were recalculated, sending stocks to the weekend on a high note.
The S&P 500 (^GSPC) closed out Friday up 0.6%, putting the index back into record-high territory.
As we putter through the back nine of this quarter's earnings season, our focus will continue to be split between the drip of more companies opening their books and the economic data that will hopefully calibrate a Fed on the edge between holding and hiking rates.
Wednesday's Consumer Price Index release is circled on the calendar, with economists expecting it to rise 0.2% — both the overall and core figures (no energy, no food). Thursday will see the wholesale version, with the Producer Price Index expected to also rise faster than last month. The week's economic data will close with a reading on retail sales and U. Mich.'s consumer survey data on Friday.

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