Wall Street has slowly grown accustomed to the likelihood of three rates hikes this year. A hint of any more than that could cause market waves.

The following commentary is an excerpt from the Weekly Roundup to Trifecta Stocks subscribers originally sent on March 10. Click here to learn more about this dynamic portfolio and market information service. While the stock market tried to rally this morning off of a very solid February jobs report that likely paves the way for the Fed to nudge interest rates higher next week, the S&P 500, Dow Jones Industrial Average and Russell 2000 all ticked lower for the week.

U.S. stocks rose on Friday after a solid jobs report pointed to strength in the domestic economy and supported expectations the Federal Reserve will raise interest rates next week. Indexes ended lower for the week, however, with the S&P 500 and Nasdaq breaking a six-week streak of gains.

There’s a stock market story that most people are missing as the big S&P 500 index hovers just below all-time highs: a big chunk of this market is bleeding red right now. As I write, 27% of S&P 500 components are underperforming the broad market by 10% or more over just the past six months.

China stocks ended flat on Friday, as initial excitement toward the country’s annual parliamentary meeting petered out and investors turned cautious ahead of a likely U.S. rate hike next week. The blue-chip CSI300 index was unchanged at 3,427.89, while the Shanghai Composite Index was down just 0.1 percent at 3,212.76 points.

European stocks are expected to open higher Friday as investors follow on from a solid session in Asia and focus on the delayed employment report from the U.S. labor department. European stocks are expected to open higher Friday as investors follow on from a solid session in Asia and focus on the delayed employment report from the U.S. labor department later in the session.

A late rebound in energy shares helped U.S. stocks end a choppy session a tad higher on Thursday ahead of the U.S. monthly jobs report. The day marked the eight-year anniversary of the current bull market, the second-longest ever.

Wall Street churned around the flatline for much of the day with investors reluctant to commit to any one direction until the release of Friday’s highly anticipated jobs report. Wall Street churned around the flatline for much of the day with investors reluctant to commit to any one direction until the release of Friday’s highly-anticipated jobs report.

U.S. stocks were little changed on Thursday as gains in bank stocks were countered by the second day of losses in energy shares, a day before the crucial monthly jobs report that would bolster already sky-high odds of a rate hike next week. Fueling the rise in bank stocks was a report that showed the number of Americans applying for unemployment benefits rose to 243,000 last week, but remained below 300,000 for the 105th week.

The European Central Bank boosted markets when it sounded a hawkish tone Thursday, but it wasn’t enough to offset earlier losses for some benchmarks. European stocks were mixed on Thursday after a more upbeat European Central Bank helped to boost markets in the afternoon, but this was not enough to lift all benchmarks out of the red.

China stocks closed at two-week lows on Thursday, as energy shares tumbled on diving oil prices while global investors turned cautious ahead of a widely expected hike in U.S. interest rates next week. Renewed weakness in the yuan currency also dampened confidence, though China’s state banks stepped into the market to keep the currency from falling too fast.

With major national elections scheduled this year for a slew of major Eurozone economies, including Germany and France, the region’s two largest economies, some investors are understandably pensive about embracing European stocks and the related exchange traded funds.

Eight years ago, new president Barack Obama had inherited a mess. Since then, stocks have seen their second-longest bull market on record.

European stocks are expected to start the session with a cautious tone Wednesday as investors await a key budget statement from the U.K. government. European stocks are expected to start the session with a cautious tone Wednesday as investors await a key budget statement from the U.K. government.

Asian stocks erased early losses and edged higher on Wednesday as strong China trade data bolstered bets of a recovering global economy, though gains were capped by caution ahead of a widely expected U.S. interest rate hike next week. China’s imports grew 44.7 percent in February from a year earlier on a yuan-denominated basis, accelerating from the previous month and leading to a rare trade deficit for the country.

President Donald Trump gestures as he arrives on Capitol Hill in Washington, Tuesday, Feb. 28, 2017, for his address to a joint session of Congress. U.S. stock index futures were down on Tuesday as investors assessed the potential impact of U.S. President Donald Trump’s latest moves, including a plan to repeal and replace the Affordable Care Act.

Short-sellers hate being caught short a stock that reports a blowout quarter. When this happens, we often see a tradable short squeeze develop as the bears rush to cover their positions.