The four-year-old bull market faces headwinds from geopolitics and elevated earnings expectations as it marks its anniversary. This busy week features major bank earnings alongside key inflation data with the CPI report on Wednesday and PPI on Thursday. Interest rate-sensitive stocks are bouncing back, with utilities and Home Depot recovering from recent lows. On the valuation front, Salesforce received a double-upgrade to buy at Bank of America while Mattel is in focus following takeover talks with Authentic Brands at $20 per share. Melius Research raised Alphabet’s price target to $395, highlighting strong Google Cloud performance despite lingering uncertainty around Search and Gemini.
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