Technology rebounded significantly this week; however, the sustainability of artificial intelligence’s momentum is uncertain, particularly in light of increasing expectations for a rate hike. Next week’s jobs report is expected to provide insight into the trajectory of monetary policy, following Federal Reserve Chairman Kevin Warsh’s reaffirmation of a commitment to combat inflation, despite emerging signs of weakness in the U.S. economy.

“It’s all about artificial intelligence,” stated Dave Sekera. “And I think that trend will persist into next week as market participants seek to recalibrate their positions in AI investments.”