Markets
Here are today’s market moves:
What Happened?
The S&P 500 and other major indexes fell on Friday to finish the week lower, snapping a three week win streak.
Why did stocks fall? Data showed that consumer sentiment in the U.S. declined significantly in early July amid concerns over high inflation.
Consumers’ complaints about rising prices on homes and vehicles reached an all-time record.
This week, Fed Chair Jerome Powell tried to reassure markets that a rise in inflation was likely to be temporary, but many people seem to be unconvinced as they feel the effects of higher prices.
Also weighing on markets is the spread of the delta variant of coronavirus. L.A. County said that residents will again be required to wear masks in indoor public places.
The crypto market fell slightly on Friday, with Bitcoin trading near $31k. Recently, trading volume has fallen quite significantly.
What Else?
This Week
Monday: Earnings expected from Simulations Plus.
Tuesday: Earnings expected from Chase, Goldman Sachs, and Pepsi.
Wednesday: Earning expected from Bank of America, BlackRock, Citi, Delta, and Wells Fargo.
Thursday: Weekly jobless claims; Earnings expected from Morgan Stanley and UnitedHealth.
Friday: Earnings expected from Charles Schwab.