Tech will dominate this week, but here’s one up-and-coming sector investors shouldn’t overlook Need to Know

By Barbara Kollmeyer

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Tesla /zigman2/quotes/203558040/lastsale TSLA +1.05% is surging 4% towards another record after Bloomberg reported that Hertz /zigman2/quotes/227855833/composite HTZ +7.47% is looking to buy 100,000 Tesla electric vehicles as part of its plan to electrify its fleet of rental cars.

Treasury Secretary Janet Yellen said Sunday that she sees prices rising into mid-2022 , but that inflation isn’t out of control. Federal Reserve Chair Jerome Powell said Friday that inflation could stay elevated and tapering should start soon.

Read: The Fed’s next interest rate-hike cycle is coming but may not look like what officials have been projecting

The data calendar this week includes housing market updates, durable goods, third-quarter growth, personal income, consumer spending and core inflation. We’ll also hear from Powell on Friday at a Bank for International Settlements conference.

China says children aged three to 11 will be required to be vaccinated to battle the spread of COVID-19. Officials shut the northwestern province of Gansu, famed for the ancient Silk Road, to tourists after new cases, and locked down a small country in inner Mongolia.

Listen to the Best New Ideas in Money podcast.

The markets

Stock futures /zigman2/quotes/209948968/delayed ES00 -0.28% /zigman2/quotes/210407078/delayed YM00 -0.19% /zigman2/quotes/210219788/delayed NQ00 -0.20% are drifting north, led by tech, after a lackluster Asian session. Natural-gas prices /zigman2/quotes/210189548/delayed NG00 +1.28% are climbing, with oil prices /zigman2/quotes/209723049/delayed CL00 +1.08% also higher. The Turkish lira /zigman2/quotes/210561895/realtime/sampled USDTRY +0.0404% , meanwhile, hit a new all-time low after President Recep Tayyip Erdoğan expelled 10 foreign ambassadors , including from the U.S.

The chart

More evidence that more money has been flowing into stocks. Deutsche Bank strategists, led by Parag Thatte, noted $24.5 billion flowed into stocks, the strongest inflows in five weeks. Inflows into U.S.-focused funds got $15.7 billion of that.

Some say the list of potential buyers for this stock market is starting to thin out:

Random reads

Sneakers worn by NBA great Michael Jordan more than two decades ago auction for nearly $1.5 million .

Meet the boomers who are moving back in with their parents .

In case you missed New York’s annual dog parades, these were the best in show .

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