Markets lost between April 9-15 as investors remained pessimistic regarding when the Federal Reserve will cut interest rates.

Markets closed mixed on Tuesday ahead of Wednesday’s Consumer Price Index report release. The Dow Jones Industrial Average lost 0.1%, the S&P 500 added 0.1% and the Nasdaq composite added 0.3%. 

The Real Estate Select Sector gained 1.3%, the Utilities Select Sector gained 0.6% and the Technology Select Sector gained 0.5%. The Financial Select Sector fell 0.6%.

The Chicago Board Options Exchange Volatility Index can be used as a fear gauge regarding equity markets. The CBOE Volatility Index declined 1.4% to a value of $14.98.

By Wednesday’s close, the three major indexes ended in the red following the release of the CPI report. The Dow fell 1.1%, the S&P 500 fell 1% and the Nasdaq fell 0.8%.

The Real Estate Select Sector, the Utilities Select Sector and the Materials Select Sector lost 4.1%, 1.7% and 1.6%, respectively. 

The U.S. Bureau of Labor Statistics detailed that CPI rose 0.4% in March. Core CPI, which excludes food and energy prices, increased 0.4% month over month.

The CBOE Volatility Index rose 5.5% to $15.80.

The three major indexes gained on Thursday following the release of the Producer Price Index. The Dow added 0.1%, the S&P 500 added 0.7% and the Nasdaq added 1.7%.

The Technology Select Sector, the Communication Services Select Sector and the Consumer Discretionary Select Sector climbed 2.0%, 0.9% and 0.8%, respectively.

The CBOE Volatility Index declined 5.6% to $14.91.

The Bureau of Labor Statistics reported that the PPI rose 0.2% in March.

The Department of Labor announced that jobless claims fell 11,000 to 211,000 for the week ended April 6.

Markets closed in the red on Friday due to rising geopolitical tensions paired with lackluster investor sentiment regarding the future of rate cuts. The Dow lost 1.2%, the S&P 500 lost 1.5% and the Nasdaq lost 1.6%.

The Materials Select Sector, the Communication Services Select Sector and the Energy Select Sector declined 1.7%, 1.6% and 1.6%, respectively.

The CBOE Volatility Index rose 2.3% to $16.92.

On Monday, the Dow fell 0.7%, the S&P 500 fell 1.2% and the Nasdaq fell 1.8%. 

In the upcoming week, investors should look forward to Fed Chair Jerome Powell’s remarks along with speeches from various Federal Open Market Committee voting members. Remarks made by the officials can signal sentiment regarding the future of rate cuts.

Currently, markets are in a confusing state, with investors looking to price in various economic readings to predict the future of rate hikes. From a fundamental standpoint, investors should allocate significant portfolio weight to industries afflicted by a delay in rate hikes.