Optimistic consumer sentiment data alleviated some fears, but attention remains laser-focused on next week's busy economic calendar.
Attention shifted toward the consumer price index due out Tuesday, which is expected to show whether inflation has receded. The Federal Reserve will likely deliver a 50 basis point hike at the end of its December meeting on Wednesday. While the increase would be smaller than the previous four hikes, concerns have mounted over whether the central bank can architect a soft landing and prevent a recession.
Shares of Lululemon tumbled nearly 13% after the company gave a weaker-than-expected fourth-quarter outlook. DocuSign jumped on strong results.
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