Markets
Here are today’s market moves:
S&P 500 down 0.85% to 4,127.83
Dow Jones down 0.78% to 34,060.66
Nasdaq down 0.56% to 13,303.64
Bitcoin: $43,260
US10Y: 1.637%
What Happened?
Major stock indexes fell on Tuesday as investors try to figure out whether rising prices will be temporary or more persistent, and whether the Fed will raise interest rates sooner than expected.
69% of investors expect “above-trend” growth and inflation, a record percentage, according to a study by Bank of America.
Tech shares have been hit the hardest because of rising inflation concerns. Some investors see this moment as a buying opportunity.
The Nasdaq has fallen for four weeks straight, its longest losing streak since August 2019.
A strong earnings is coming to a close. Major retailers such as Macy’s, Walmart, and Home Depot reported solid earnings today.
What Else?
This Week
Monday: Tax Day. Earnings expected from Fisker and Purple.
Tuesday: Earnings expected from Home Depot, Macy’s, and Walmart.
Wednesday: Earnings expected from Cisco, Lowe’s, and Target.
Thursday: Earnings expected from Kohl’s, Ross, Tencent, and L Brands; Oatly IPO; Weekly jobless claims.
Friday: Earnings expected from Foot Locket and John Deere.