Markets Have Another Choppy Week and Rotation Continues, Financials Have Rough Friday After Big Bank Earnings

Key Takeaways

The S&P 500 closed at 4,662.85 down from 4677.03 . The VIX settled at $19.19  and didn’t get too far above $20 this week.Powell’s testimony assuaged markets somewhat, but they didn’t like Brainerd’s hawkish tone. A March hike is looking more likely with uncertainty around other tightening methods.The rotation into Financial and Energy continued.  However, Financials suffered a down day on Friday when there was some disappointment in large bank earnings.We ...

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