Markets
Here are today’s market moves:
S&P 500 up 1.06% to 4,159.24
Dow Jones up 0.55% to 34,082.90
Nasdaq up 1.77% to 13,535.74
Bitcoin: $41,653
US10Y: 1.63%
What Happened?
The S&P 500 rebounded on Thursday as jobless claims data showed that the labor market continued to recover.
444,000 Americans applied for first-time unemployment benefits last week, the lowest level since the pandemic started.
Stocks were under pressure for most of this week following concerns that rising inflation might cause the Fed to change its easy-money policies.
Yesterday, the Fed signaled an eventual shift away from its easy-money policies but noted that it will continue to support the economy for now.
The crypto market recovered today after a wild selloff yesterday caught many traders by surprise.
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.