Good evening.
Stocks and crypto rebound, CPI report drops tomorrow, and all eyes on Q4 earnings.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks climbed on Tuesday as investors bought the dip following a five-day sell-off in the S&P 500.
In comments to U.S. lawmakers, Fed Chair Jerome Powell said he expected the Fed would raise rates and end its asset purchases this year.
Investors are waiting for the consumer price index (CPI) report, which drops tomorrow.
Investors also are preparing for the start of earnings season this week. Earnings growth will be important for the market to continue its upward climb.
The crypto market climbed on Tuesday, with Bitcoin trading near $43k, as cryptocurrencies gained alongside other risk assets.
Catch Up
Retail traders may have accounted for one-third of all US stock market trading in 2021, according to Credit Suisse.
Covid-19 hospitalizations reported in the U.S. hit record high as Omicron spreads.
Analysts estimate that profits from companies in the S&P 500 rose 22% in the fourth quarter from a year earlier.