Markets
Here are today’s market moves:
What Happened?
The S&P 500 climbed on Friday but still finished the week lower on fears over the Fed preparing to taper and the spread of the delta variant.
Dallas Federal Reserve President Rob Kaplan said on Friday that the delta variant has caused him to have an open mind about the path of monetary policy, suggesting more support for longer.
The Fed’s continued support has helped drive markets higher in the past decade and especially in the past year:
Investors have developed a “buy the dip” mentality, where they aggressively buy on any red days they can get. It looks like they’ve been buying the dip the past few days.
The crypto market climbed on Friday, with Bitcoin approaching $50k, after Coinbase announced that it will add crypto to its balance sheet.