Last week saw markets navigate volatile trading amid escalating trade tensions and mixed economic signals. The S&P 500 ($SPX) (SPY) showed resilience despite ongoing tariff concerns, with investors parsing through financial sector earnings and adjusting expectations following Fed Chair Powell's commentary on monetary policy. Retail sales data provided fresh insights into consumer health while markets continued to assess the broader economic impact of trade policies.

Here are 5 things to watch this week in the Market.

Heavy Tech Earnings Week

This week brings a significant slate of technology earnings, headlined by Tesla (TSLA) on Tuesday, followed by Alphabet (GOOGL) and Intel (INTC) on Thursday. Tesla's report will be closely watched for production numbers, margins, and commentary on demand trends amid increasing EV competition. Alphabet's advertising revenue growth and cloud performance will provide insights into digital ad spending and enterprise technology investments. Intel's results come at a critical juncture as the company attempts to regain competitive footing in the semiconductor industry. Given technology's outsized market influence, these reports could significantly impact broader market sentiment and influence sector rotation strategies, particularly as investors continue to assess AI investment trends and valuation sustainability.

Industrial Sector Health Check

A cluster of industrial bellwethers report this week, including 3M (MMM) on Tuesday, Boeing (BA) on Wednesday, and several materials companies including Freeport-McMoRan (FCX) on Thursday and Schlumberger (SLB) on Friday. These reports will provide critical insights into manufacturing activity, industrial demand, and supply chain conditions amid ongoing trade tensions. Boeing's results will be particularly scrutinized for updates on production issues and aircraft deliveries, while materials companies will offer perspective on global commodity demand and pricing trends. Together, these reports will help traders assess whether the industrial sector is maintaining momentum or facing headwinds from tariff impacts and shifting global trade patterns.

Services vs. Manufacturing Dynamics

Wednesday's flash Manufacturing and Services PMI readings at 9:45am will offer timely insights into business activity across major economic sectors. These preliminary April indicators will help determine whether manufacturing continues to show signs of stabilization while services maintain their growth trajectory. The divergence between these sectors has been a notable economic trend, with services continuing to outperform manufacturing for several quarters. Any convergence in performance could signal changing economic dynamics. The reports' details on new orders, employment, and prices will provide valuable forward-looking indicators about business confidence and inflation pressures. Given recent concerns about uneven economic performance, these diffusion indices could significantly impact market sentiment and sector positioning.

Housing Market Resilience

Thursday's Existing Home Sales report at 10am will help assess whether the housing market is maintaining momentum despite persistently high mortgage rates and affordability challenges. As one of the most interest-rate sensitive sectors of the economy, housing activity provides important signals about monetary policy transmission effects. The report's details on inventory levels, median prices, and days on market will offer insights into supply-demand dynamics and potential future construction activity. Housing-related stocks including homebuilders, home improvement retailers, and mortgage lenders could see notable reactions based on these results. With housing's important role in consumer wealth effects and broader economic momentum, this report takes on additional significance for gauging economic health.

Tariff Developments and Global Trade

Markets remain highly sensitive to evolving trade policy developments, with particular focus on implementation details, potential carve-outs, and international responses to recent tariff announcements. Comments from administration officials, trading partners, and corporate executives about supply chain adjustments and pricing implications will be closely monitored. Industries with significant international exposure including technology, industrials, and consumer products may see pronounced reactions to evolving trade policy details. With durable goods orders data releasing Thursday at 8:30am, traders will have an opportunity to assess whether tariff concerns are beginning to impact business investment decisions. The combination of trade headlines and economic data could create significant market volatility as investors continue to evaluate the longer-term implications of shifting trade policies.

Best of luck this week and don't forget to check out my daily options article.