Markets
Here are today’s market moves:
What Happened?
The S&P 500 climbed 1.52% on Tuesday, recording its best day in four months following yesterday’s selloff.
Why the big move? Investors have developed a BTD (“buy the dip”) mentality over the last year, rushing in to buy shares at every dip. The strategy has worked out well (so far).
The major U.S. indexes are all within 2% of their record highs from last week.
The spread of the delta variant of coronavirus still remains a risk that could slow down the economic recovery in the coming months.
Some analysts believe markets may be due for a short term correction as equities have gone months without a pullback of at least 5%.
The crypto market fell on Tuesday, with Bitcoin trading below $30k, a key support level.
What Else?
This Week
Monday: Earnings expected from IBM.
Tuesday: Earnings expected from Chipotle and Netflix.
Wednesday: Earning expected from Coca-Cola, Johnson & Johnson, United Airlines, and Verizon.
Thursday: Earnings expected from Blackstone, Domino’s, Intel, Snap, and Twitter.
Friday: Earnings expected from American Express and Honeywell.