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Oil surging past $100 is lifting energy stocks while high bond yields drag on tech, and underneath a deceptively calm index, a quiet rotation is reshaping portfolios before bank earnings reveal whether the slowdown is finally catching up to borrowers.
Wall Street stocks traded mixed on Monday, with the S&P 500 holding near its record high as gains in energy shares offset losses in technology stocks. Investors also turned their attention to a fresh round of corporate earnings and key US inflation data due later this week.
Wall Street is betting on profits. The S&P 500 SP:SPX is gravitating toward another all-time high. The Nasdaq NASDAQ:IXIC has been setting records, technology stocks remain in demand and investors are heading into earnings season (ref: Earnings calendar) with plenty of reasons to be optimistic. There's just one…