Stocks stumble on inflation fears, but 2 of our names give us reasons to stay bullish
Stocks came under pressure last week as surging oil prices and bond yields stoked renewed concerns about inflation and the Fed's next move.
TL;DR
- Major stock indices (Dow, S&P 500, Nasdaq) ended the week with losses due to rising oil prices and bond yields, which intensified inflation concerns and the possibility of a Fed rate hike.
- West Texas Intermediate crude oil surpassed $100 per barrel, and the 10-year Treasury yield hit its highest level since October 2023.
- Inflation data, including producer and consumer price indices, reinforced worries about an impending Fed rate increase.
- Meta Platforms released new AI models (Muse Spark 1.3 and Muse personal AI agent) that are seen as strong competitors, potentially boosting the company's valuation.
- Apple launched the foldable iPhone Duo and upgraded its iPhone 18 Pro and Pro Max, while also enhancing Siri's AI capabilities to integrate with over 300,000 apps.