Published on 21 Feb 2023 on Zacks via Yahoo Finance

Beat the Market the Zacks Way: Kazia Therapeutics, Uber, Medtronic in Focus

Two of the three most widely followed indexes ended the week in the red. The Dow Jones Industrial Average and the S&P 500 declined 0.1% and 0.3%, respectively, while the Nasdaq Composite advanced 0.6%.

A slew of economic data released through the week seems to be bringing back recession fears among investors. A decelerating housing market, higher-than-expected PPI, stronger-than-anticipated retail sales, and above all, still-hot inflation have stirred up the hornet’s nest. It is now widely expected that the Fed might resume its monetary policy tightening until there are clearer signs that inflation is cooling down.

The 10-Year U.S Treasury yields are climbing on the back of this, putting further pressure on growth sectors like Consumer Discretionary and Information Technology. All eyes are now on the PCE inflation numbers expected this week and how the Fed reacts to them. The report is rumored to be the central bank’s favorite inflation guideline.