January rally loses steam

Just like many a New Year's resolution, January's stock market rally has faded after just a few weeks. All three major indicies are headed for a losing week, while the Dow turned negative for the young year. Investors are facing down a mixed bag of corporate earnings, murky signals from the big banks, the prospect of a recession and no sign that the Federal Reserve will start to lay off its aggressive rate increases, despite its recent success in slowing down inflation. Next week brings an even bigger slate of earnings, as well as the Fed's next rate-setting meeting. $SPDR S&P 500 ETF(SPY.US)$ $Invesco QQQ Trust(QQQ.US)$