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Dow, S&P 500 decline Monday as tech stocks face fresh selling

Dow, S&P 500 decline Monday as tech stocks face fresh selling
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Earnings Reports and the Fed Will Test the Market Rally in the Week Ahead

Central bank officials are also scheduled to make comments, including Fed Vice Chairman Richard Clarida who speaks next Monday. Stocks have been volatile. The rally on Thursday and Friday was unable to reverse the week s heavy losses. The defensive consumer staples, financials and materials were on track for a positive week among major sectors. The worst performers were consumer discretionary, off about 3.7% for the week, and tech, which was down 2.2%. Technology shares were among the best performers in Friday s rally, up about 2.1%. Energy was the best performer, up more than 3%. Watch it with a certain amount of trepidation, said Art Hogan, chief market strategist at National Securities. It s not like the things that spooked us this week, like inflation, are going away.I think the fact we bounced at the end of the week is constructive. He added that he still expects the market to move forward with fits and starts.

Before the Bell: UK s economic reopening takes off as Europe lags further behind

UK s economic reopening takes off as Europe lags further behind Getty images Friday’s bumper US payrolls report saw both the DAX and Stoxx600 post new record highs yesterday, following on from similarly record sessions in the US on Monday, and while the FTSE100 continues to lag behind, the FTSE250 was still able to close within touching distance of a record close. China and the US aside, which have seen their services sectors hold up exceedingly well, with the US ISM services headline number hitting a record high this week, the services sector in Europe continues to bear the brunt of the global pandemic.

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