Services lifted U.S. composite activity to a four-year high. Stocks rebounded Friday, but long yields and oil still raise the valuation and inflation hurdles.
Brent rose for a sixth day. The dollar fell for the week as gold and bitcoin gained. Markets are pricing energy, fiscal term premium, and purchasing-power risk together.
Major indexes rose Friday but fell for the week. Traffic improved at off-price and warehouse retailers, yet refunds and gasoline mean earnings quality must be separated from headlines.
Consumer confidence arrives Tuesday. GDP, PCE, and major chip earnings land Wednesday. The global central-bank symposium follows Thursday through Saturday.