Joe Mazzola

Earnings season gets busy today, with more green than red on the morning's scorecard and Tesla looming later. A Treasury auction this afternoon could be worth watching for signs of demand, with yields elevated early Tuesday. The dollar and crude have eased a bit, which could help stocks.

After suffering the worst week in more than a year amid massive selling of technology shares, the major indexes appear ready to mount a comeback early Monday. However, recent rallies haven't lasted, with selling showing up each time. A big week is ahead for tech earnings, along with Tesla tomorrow and PCE inflation on Friday.

Major indexes traded near the flat line in wary action early Friday following Israel's overnight limited attack against Iran that reportedly caused little damage. Volatility and crude oil initially spiked but then erased most of their gains, while U.S. Treasuries saw some strength amid defensive trading. Netflix is down 5% after earnings, with investors focused on guidance.

Wall Street is off to a slightly better start today but that's been the pattern all week and none of the rallies lasted through the close. Better-than-expected results from Taiwan Semiconductor appeared to help the sagging chip sector, while Netflix earnings come after the close. Weaker oil and dollar could support.

Strength in mega-cap tech and results from United Airlines may be providing a foundation of strength after the market saw three straight days of losses.

Major indexes engineered slight gains ahead of the open a few hours before Fed Chairman Jerome Powell prepares to speak. Volatility is at levels last seen in late 2023 while traders await a possible Israeli response to Iran's weekend attack, and Treasury yields remain elevated on strong U.S. economic data.

Major indexes engineered a rebound from Friday's sell-off despite missile strikes on Israel by Iran over the weekend. Volatility eased but still remains near highs. Retail sales jumped 0.7%, above consensus expectations of 0.4%. The strong dollar and rising Treasury yields, along with concerns of a possible Israel response, could remain headwinds.

Risk-off" sentiment appears to be building on Wall Street ahead of the weekend, characterized by falling Treasury yields and investors backing away from the big tech stocks that rallied yesterday. Geopolitical concerns mounted even as three major U.S. banks reported better-than-expected results.

Stocks pivoted early Thursday after PPI data suggested U.S. wholesale prices cooled slightly last month. This follows yesterday's hot consumer price report that slammed stocks and sent Treasury yields spinning much higher. Tomorrow brings the unofficial start of earnings season as three major banks report.

Hopes that U.S. consumer inflation might cool in March blew away in the spring wind early Wednesday as the March CPI report came in hotter than expected at 0.4% for both core and headline monthly price growth. Treasury yields quickly soared to five-month highs and stocks retreated as rate cut hopes faded.