Stocks Slip as Traders Eye Data for Outlook on Rates, Growth
• Stocks took a breather after a recent rally, with the S&P 500 dropping to around 5,220 and megacaps like Intel and AMD slipping.
• Concern is growing about a disconnect between stock valuations and earnings expectations if profit growth fails to accelerate.
• Traders are eyeing fresh economic data and commentary from Fed officials for clues on interest rates and the outlook.
• Friday brings important inflation and consumer spending data, but markets are closed for Good Friday.
• Strategists see room for more tech-fueled gains, with Goldman Sachs outlining a scenario for the S&P 500 hitting 6,000.