SPX Weekly SPX Weekly It was a tough week for US stocks, ending with a soft rally after a back-and-forth session. Today’s warm PPI reading and better UMich sentiment raised questions about whether the Fed’s hikes will do enough to cool inflation and whether Powell may take a hawkish stance next week. I think he will instead push the idea that the Fed will keep interest rates high longer than the price reversal in Fed funds. Anyway, expect even bigger moves next week. During the day: LiivP 500 -0.75D Nasdaq -0.7D Russell 2000 -1.0D During the week: LiivP 500 -3. D Nasdaq – .0D Russell 2000 – .