Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.

Stocks showed mixed results last week as recession fears resurfaced in response to weak economic data and a tepid start to a new corporate earnings season.

Stocks rallied last week thanks to fresh confirmation of inflation’s cooling trend and growing optimism that an inflation slowdown may provide the Fed with space to ease up on future rate hikes.

A strong Friday rally triggered by fresh signs of moderating inflation pushed stocks into positive territory to begin the new year. 

Hawkish comments by the Fed and weak economic data heightened investors’ recession concerns and sent stocks lower last week.