Oil's overnight climb to one-month highs raised fresh inflation concerns and sent stocks down early. Chips led losses after gaining 5% Tuesday. Alphabet and Tesla report later.
Mega-caps Alphabet and Tesla report this afternoon. Chips rallied into Alphabet's results, possibly on hopes for big spending plans. But climbing yields and oil present headwinds.
After a Monday that saw the S&P 500 Index descend on rising oil and yields despite chip market strength, investors await General Motors, 3M, and Northrop Grumman.
Kevin Warsh backs the Fed's 2% inflation goal, the SEC proposes e-delivery, Congress considers a stock-trading ban and bill to avert a shutdown, and a BLS nominee advances.
The chip market starts the week licking its wounds after a swift descent over the last few days. Earnings from Alphabet and Intel in a few days are the next major keystones.
Schwab's Kevin Gordon discusses the Leading Economic Index® and its role in signaling the current phase of the economic cycle in his latest look at the Week Ahead.
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