Markets
Here are today’s market moves:
What Happened?
The S&P 500 and Dow Jones fell on Monday as investors remain cautious about the delta variant of coronavirus and China’s tech crackdown.
Stocks are off to a choppy start in August, a seasonally tough time as Wall Street traders goes go on vacation.
Stock indexes are near records as the Fed continues to accommodate the economy and company earnings look strong.
Interesting fact: Google, Apple, Microsoft, Amazon, and Facebook — the big tech five – now make up a record 23% of the S&P 500.
The crypto market fell slightly on Monday, with Bitcoin trading near $39k, as traders try to understand a crypto tax provision that was included in the $1 trillion infrastructure bill.
What Else?
This Week
Monday: Earnings expected from Ferrari.
Tuesday: Earnings expected from Alibaba, Activision Blizzard, and Lyft.
Wednesday: Earnings expected from CVS, General Motors, and Uber.
Thursday: Earnings expected from Dropbox, Square, and Wayfair; Weekly jobless claims.
Friday: Earnings expected from DraftKings and Norwegian Cruise.