Fed weeks always make for a good time with trading, and last week was no different. While the Fed Funds rate did not really move the market as it hit where it was expected with a 25 basis point increase. The presser that followed made for a lot of fun. Powell signaled that not only are they not pausing, but they are also still looking to tighten on the rate front. His speech marked the high of the week on the S&P 500 ($SPX) (SPY) as it sold off from then on.
Even with a tough back half of the week for the S&P 500, tech seemed to shrug it off as AAPL, TSLA, NVDA, and META all retained their weekly gains at the end of the week. This week looks relatively calm on the news front, but there are some lingering items from last week that could manifest some movement this week.
