Another week of two halves saw stocks sell off the first three days, before rebounding on Thursday and Friday. Better-than-expected initial jobless claims and U.S. PMI composites helped risk appetite late in the week. Earlier, disappointing Philadelphia Fed manufacturing numbers weighed on sentiment. Federal Reserve minutes pointed to concerns about inflation and talk of thinking about thinking about tapering.
Winners & LosersEarnings mostly drove winners and losers. Many retailers sold off after Ralph Lauren (NYSE:RL) and L Brands (NYSE:LB) reported, including The TJX Companies (NYSE:TJX), Tapestry (NYSE:TPR), and The Gap (NYSE:GPS). Coinbase Global (NASDAQ:COIN) dropped 12% on the crypto news.
Winners included Take-Two Interactive Software (NASDAQ:TTWO), which rallied 14% after reporting earnings. Hormel Foods (NYSE:HRL), CVS Health (NYSE:CVS), and Ford (NYSE:F) were also firmly in the winners' column.
What Caught Our Attention This WeekKim: Goldman Sachs' hedge fund VIP stocks list;
Brad: The new 'momentum stocks' to watch;
Stephen: Dollar Index slide;
Nat: The crypto meltdown. Gnarly.
Watch The VideoThe AlphaTalks: What Moved Markets This Week video airs every Friday afternoon around the market close. Watch this week's version and have your say in the comments section.
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