To The Moon

The SPDR S&P 500 ETF Trust (NYSE:SPY) experienced another volatile week of trading amid ongoing concerns over the stability of the banking industry.

On Friday, Deutsche Bank AG (NYSE:DB) shares dropped more than 3% after the price of the bank's credit default swaps jumped, indicating market concerns about the bank's health.

A late-session buying surge lifted the stocks, helping the averages recover and end uniformly higher. The gains came amid a decline in bond yields following the paring of rate hike expectations.

Communications services and technology stocks led from the front, while energy and utility stocks came under selling pressure.

⭐️ Analysts currently project 17% upside for the S&P 500 over the next 12 months, according to FactSet.

Economic Numbers: Investors will get key economic updates on Friday when the Bureau of Economic Analysis releases its February personal consumption expenditures price index reading and the University of Michigan releases its March consumer sentiment index reading.

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