Expectation of Fed rate cut in June will support share prices: CFRA's Stovall

• Major averages extended gains from Friday, with technology stocks leading the market higher.
• Investors are closely watching upcoming economic data, including January jobs and the Consumer Price Index (CPI), as well as a busy week of earnings reports.
• The market anticipates a potential Fed rate cut by June, which is expected to support and propel share prices.
• Market breadth is improving, with more sub-industries moving above key moving averages, indicating a broader rally beyond just mega-cap tech.

Financial market experts discuss the positive start to the week for major averages, with tech leading the gains. Key upcoming economic data like jobs and CPI, along with earnings, are in focus. The expectation of a potential Fed rate cut in June is seen as a significant factor that could further support and propel share prices.