Week in Review: Tech Tempers Stock Losses as Inflation, Fed Take Center Stage

Markets rallied smartly Friday, lifting some doom and gloom, especially for investors in energy and communication services despite pressure on the major indexes all week.

Crude oil spiked above $100 per barrel. This marked a rise of nearly 10% in the U.S. oil-price benchmark in the week that was, and made energy the best-performing S&P 500 sector. For the week, however, major indexes were lower: The Dow Jones Industrial Average ($DJI), the S&P 500 Index (SPX), and the tech-heavy Nasdaq-100 Index (NDX) fell. The small cap Russell 2000 Index (RUT) also was lower. The PHLX Semiconductor Index (SOX), however, rose for the week.

In the S&P 500, the health care sector was the worst performer of the week. The culprit was the cascading effect of negative drug trial results that can put revenue pipelines in question. Shares of drugmaker Novartis (NVS) fell more than 14% on the week after a drug it gained through a $12 billion acquisition completed this year failed to show promise in Phase 3 trials. Amgen (AMGN), Royalty Pharma (RPRX), and Ionis Pharmaceutical (IONS) fell in sympathy. In addition, shares of medical device company Cooper Companies (COO), which is focused on vision care and women’s health, declined 22.5% for the week after it cut its guidance. It cited competition and litigation, according to reports. See Thursday's First Moves: AEO, M & COO Sell Off After Earnings

Materials also did not fare well, with discussion of U.S. copper tariffs denting shares of miners Freeport-McMoRan (FCX), Southern Copper (SCCO) and Teck Resources (TECK). Albemarle (ALB) also was lower, down nearly 7% for the week, on price weakness for lithium, which plays a critical role in rechargeable batteries powering phones, computers, and electric vehicles (EVs). See TSLA Cybercab Sees Fork in Road Between Safety & Production | Trading 360

On the one hand, market participants assessed the war between the U.S. and Iran, how the resulting spike in oil prices impacts inflation, and what that means for the Fed. On the other hand, tech bullishness remained. Here are some popular videos on our roster from the week that was:

On the Fed, Government Debt and Treasuries:

• Why CPI Will Move Equities & Yields, Fed Readies for Interest Rate Meeting
• Market Pricing in Near-Certain Interest Rate Hike, Diesel at $6 for First Time Ever
• 10-Year Yield Hits 3-Year High on U.S. Treasury Buyback: What's Next for Equities & Fed
• Lee: Why a Rate Hike Won't Fix Oil-Driven Inflation
• Ted Thatcher Sees Fed Holding Rates, SPX Near 9,000 Without U.S.-Iran War
• A Divided Economy Complicates the Fed's Next Move | Morning Trade Live

On technology, ecommerce, and gaming:

• The Alibaba Group Holdings (BABA) web enterprise, Alibaba.com, has a global platform on which to assess retail and e-commerce trends. Hear from the Alibaba.com President on Accio AI, Global Ecommerce & 'A2A' Business
• The new foldable Apple (AAPL) iPhone elicited plenty of commentary. The stock was up 3.84% for the week. See iPhone Duo to iOS 27: What New AAPL Products Mean for Siri AI, CapEx & GOOGL
• M&A negotiations can stall, but the GameStop (GME) & Ebay (EBAY) Saga is “Not Over” says Lisa Martin on Acquisition Talks, Earnings

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