Quantum computing stocks popped after reports the Trump administration is eyeing equity stakes. IonQ and Rigetti gained double digits, as traders chased the federal tailwind. Meanwhile, energy stocks climbed with crude, helped by fresh sanctions on Russia.
Can the rally hold without stronger data support?
With no major economic reports hitting the wires — thanks to the government shutdown — traders are flying blind. Friday’s core CPI is the next big signal on inflation, and it’s carrying extra weight ahead of next week’s Fed decision. A soft read could cement rate-cut bets. A hot one could kill them.
The near-term direction may hinge on Intel. If earnings justify the surge and guidance points to a turnaround, tech could gain real traction into week’s end. But if it disappoints, the broader market could lose momentum fast. Positioning is cautious, but not defensive. Traders are leaning in — with stops close.
Bottom line: Tech is doing just enough, but it’s Intel’s move that could shape how this week finishes. Expectations are elevated. So is risk.
More Information in our Economic Calendar.
