Investing Club: Micron, Biden and Santa contribute to comeback — What’s ahead next week

Investing Club: Micron, Biden and Santa contribute to comeback — What’s ahead next week

After a sluggish start to the week, the strung together three strong sessions in a row and rebounded back near its record highs. The key highlights of the week on the corporate side were the fantastic earnings and industry commentary from , and the better-than-expected numbers from . In the U.S., President Biden shot down the idea that the country will have to enter a March 2020-like lockdowns to combat rising Covid-19 cases. And from a seasonality perspective, the markets entered what usually is a profitable time for investors with the start of the Santa Claus rally. Each S&P sector closed higher over the holiday-shortened trading week, but there was leadership in certain areas. Some of the sectors that got hit hardest last week came back with a vengeance, as consumer discretionary, tech, energy, communication services, and industrials all posted gains of over 2%. In fact, consumer discretionary (helped by Tesla) and tech each posted gains of over 3%. The swing higher in tech was an important one for such a beaten-down sector. One of the catalysts behind the gains in the tech sector this week was the earnings and commentary from Micron, of course. As a memory and storage