Stocks Surge to New Highs on Strong Tech Earnings and Jobs Data, Though Banks Face Risks
• The S&P 500 and Nasdaq indexes hit new highs, propelled by strong earnings from Meta and Amazon. The labor market also showed robust growth, supporting indexes.
• Regional banks face risk from exposure to distressed commercial real estate loans, with over $500B maturing in the next 2 years.
• Economic reports were overwhelmingly positive, pointing to "Goldilocks" scenario of strong yet non-inflationary growth.
• Notable upcoming earnings Eli Lilly, McDonald's, Disney, Caterpillar, NXP Semiconductors, Alibaba, PepsiCo.
• Fed speakers and light economic data will shape the week; investors should watch events on the TipRanks calendars.