In a holiday-shortened week of volatile trading, stocks surrendered some of the previous week’s strong gains.
Stocks posted solid gains for the week, buoyed by the release of Fed meeting minutes and upbeat earnings from mid-size and discount retailers.
Recession fears grew last week following weak earnings reports from major retailers, sending stocks lower.
In a volatile trading week, stocks extended their losses as economic growth and inflation concerns soured investor sentiment.
With the Fed in focus, the markets experienced wide price swings over the course of last week, as technology companies led the market lower.
On Friday, a sharp sell-off sent major stock market indices into negative territory for the week, capping a volatile close to April.
Hawkish comments from Fed Chair Jerome Powell overshadowed many largely positive earnings results, sending stocks lower for the week.
Stocks posted losses in a holiday-shortened trading week as the first-quarter earnings season kicked off and investors digested new inflation data.
Stock prices fell last week in response to the Fed’s plan to combat inflation, which staked out a more aggressive stance than investors had anticipated.
Stocks spent last week digesting the sharp gains of previous weeks as investors assessed a tightening yield curve, the war in Ukraine, and an uncertain outlook for economic growth and inflation.