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“End? No, the journey doesn’t end here.” – J.R.R. Tolkien

If you thought that with this week’s inflation data now behind us that we could coast into the weekend, think again.  There’s a ton of data on the calendar this morning, including Retail Sales, Industrial Production, and Michigan Confidence.  Futures are building on yesterday’s gains after quiet sessions in Asia and Europe, but that could change following the data releases.

Read today’s Morning Lineup for a recap of all the major market news and events including a recap of overnight earnings reports and economic data, as well as the latest US and international COVID trends including our vaccination trackers, and much more.

It’s been a rocky week for the market, but the overall trend has been lower this week. Over the last five trading days, all eleven S&P 500 sectors are in the red with Consumer Discretionary (-4.66%), Technology (-3.48%), and Communication Services (-2.69%) all trading down at least 2.5%.  Sectors that have held up the best include Consumer Staples (-0.06%), Materials (-0.16%), Health Care (-0.32%), and Utilities (-0.38%) which are all down less than half of one percent.  Despite the broad-based declines over the last week, not a single sector is oversold, only two are below their 50-DMA, and five are still overbought.