(Bloomberg) — Stocks fell at the end of a wild week, with results from technology giants set to arrive at a critical moment on Wall Street.
Most Read from Bloomberg
Most groups in the S&P 500 dropped Friday, with the gauge having its worst week since April. That’s after a “rotation” that saw investors trimming positions on this year’s winners in favor of laggards. Underpinning that trade were bets the 2024 rally would broaden out of megacaps as the Federal Reserve cuts rates. The swift repositioning spurred calls for a pullback that engulfed various sectors alongside tech ahead of the industry’s earnings.
“Next week is important for the near-term trajectory of the stock earnings, with many megacap tech companies reporting,” said Glen Smith at GDS Wealth Management. “If we were to see the powerful combination of strong tech earnings and softening inflation, that could reverse the market’s recent weakness and spark a…
