Stocks followed up last week's rally with a pullback, despite a strong Thursday gain.
The major averages closed lower this holiday-shortened trading week as investors weighed the possibility that inflation is peaking against the potential for slowing economic growth and a recession in the near future. The pullback follows last week's rally, which came after several consecutive losing weeks. Taking a cue from the action, we have been encouraged by the potential that a bottoming process is underway.
Microsoft CEO Satya Nadella attends the Viva Tech start-up and technology gathering in Paris on May 24, 2018.The major averages closed lower this holiday-shortened trading week as investors weighed the possibility that inflation is peaking against the potential for slowing economic growth and a recession in the near future. The pullback follows last week's rally, which came after several consecutive losing weeks.
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