The 10-year Treasury yield spiked to fresh 14-year highs during the week. But yields, especially the two-year rate, tumbled Friday on a Wall Street Journal report stoking hopes for slower Fed rate hikes soon.
The major indexes, up solidly throughout a volatile week, ran sharply higher Friday. The S&P 500 and Nasdaq cleared key short-term resistance, joining the Dow Jones.
But with some positive market signals, investors should be looking for potential winners in the next bull market. Snowflake (SNOW), Shift4Payments (FOUR) and DoubleVerify (DV) are fast-growing tech firms that came public in the past two years. Lithium giant Albemarle (ALB) and Shockwave (SWAV) also are booming, with their stocks trying to make their way back to a key level within bases.
Meanwhile, Apple stock, Microsoft (MSFT), Google parent Alphabet (GOOGL), Amazon.com (AMZN), and Meta Platforms (META) all report next week, along with Boeing (BA), Merck (MRK), Vertex Pharmaceuticals (VRTX) and hundreds of other companies.
Aside from Vertex and MRK stock, both near buy points, all of the names listed above are well off highs. Still the earnings reports could be a catalyst for big market gains, sharp losses or more whipsaw action.
Vertex and DV stock are on IBD Leaderboard as well as the IBD 50 list. Albemarle and SWAV stock are on the Leaderboard watchlist. VRTX stock is on the IBD Big Cap 20. Microsoft and Google stock are on IBD Long-Term Leaders. Shift4Payments was Friday's IBD Stock Of The Day.
