Markets
Here are today’s market moves:
S&P 500 down 0.05% to 4,202.04
Dow Jones up 0.13% to 34,575.31
Nasdaq down 0.09% to 13,736.48
Bitcoin: $36,200
US10Y: 1.61%
What Happened?
U.S. stocks finished Tuesday relatively flat after data showed that U.S. manufacturing activity is being affected by rising commodity prices and materials shortages.
The S&P 500 and Dow Jones are waiting for fresh catalysts as they sit near record highs.
Investors right now are optimistic about an economic recovery but also concerned about rising inflation. Fed officials made it clear once again today that the rise in prices is only temporary.
AMC shares climbed 23% today and reached a new record high in after hours. People must be really excited about movie theaters opening again.
The crypto market fell slightly, with Bitcoin down 4% to 36,200. The market is showing some signs of stability after a sharp fall over the past several weeks.
What Else?
This Week
Monday: Memorial Day.
Tuesday: Earnings expected from Canopy Growth, HP, and Zoom.
Wednesday: Earnings expected from Cloudera, NetApp, and Splunk.
Thursday: Earnings expected from BroadCom, DocuSign, and Lululemon. Weekly jobless claims.
Friday: Unemployment rate released.