Week of 08/14-08/18 Third Consecutive Weekly Losses for Tech Stocks

This week marks the third consecutive week of losses for tech stocks as all three indexes finished lower on Friday. A rise in bond brought the stock market down as investors digest the latest economic reports and earnings data. Treasury yields pulled back after reaching decade highs and interest rates for home buyers making national news due to surpassing the 7% mark. Besides borrowing cost being high for future home buyers, companies are not receiving any help by higher yields making the stock market more expensive. August has been one of the worst performing months of the year historically and this week is setting up for another weekly loss to finish the month unless tech can bring it back around. The recent correction has cooled down the artificial intelligence technology stock market rally that was experienced in the end of July. Nvidia is a beacon of hope for investors as the company reports earnings on Wednesday next week and could just be the catalyst for the next bull market rally.