Markets
Here are today’s market moves:
S&P 500 up 1.11% to 4,170.42
Dow Jones up 0.90% to 34,035.99
Nasdaq up 1.31% to 14,038.76
Bitcoin: $63,400
US10Y: 1.578%
Gold: $1,763
What Happened?
On Thursday, stocks rallied to new records on improving economic data and strong earnings results.
The Dow Jones reached 34,000 for the first time ever.
According to the Department of Labor, jobless claims fell last week to their lowest level of the pandemic.
613,000 people filed first-time claims for state unemployment benefits last week, a decrease of 153,000 from the previous week.
The Commerce Department said that retail sales surged 9.8 percent in March, higher than analysts expected.
Q2 is off to a strong start as vaccinations in the U.S. accelerate and economic activity starts to pick up.
Fun fact: Retail traders now account for 25% of trading activity in the stock market.
What Else?
This Week
Tuesday: Earnings expected from Charles Schwab.
Wednesday: Earnings expected from Goldman Sachs, JPMorgan Chase, and Wells Fargo; Coinbase goes public.
Thursday: Earnings expected from Bank of America, BlackRock, Citi, Delta, and Pepsi; Weekly jobless claims.
Friday: Earnings expected from Ally, Morgan Stanley, BNY Mellon, and State Street.