Week Ahead: Nonfarm Payrolls Next Market Catalyst? Bitcoin Holding Above $41K – Investing.com

Week Ahead: Nonfarm Payrolls Next Market Catalyst? Bitcoin Holding Above $41K – Investing.com

As the busiest week of the current earnings season came to a close on Friday, stocks ended lower, pressured by signs of weakness from the very megacap companies that, over the past year, boosted the market to new highs. Now, after worries about inflation, surging cases of the Delta variant of coronavirus worldwide, and better than expected earnings releases sparked investors to whipsaw between risk-off and risk-on sentiment, analysts are bracing for this coming Friday's monthly nonfarm payrolls print, which could be the next catalyst for another big market move.

Weak guidance from Amazon (NASDAQ:) on future sales—after the pandemic buoyed revenue in —disappointed market expectations during the company's Thursday earnings release, and led to Friday's -7.56% rout in shares of the internet retail giant.

The mega-cap tech behemoth's stock proved to be the biggest drag on both the and the indices as the trading week came to a close, with all four major US indices finishing lower.