Markets
Here are today’s market moves:
S&P 500 up 0.19% to 4,247.44
Dow Jones up 0.04% to 34,479.60
Nasdaq up 0.35% to 14,069.42
Bitcoin: $36,898
US10Y: 1.454%
What Happened?
U.S. stocks climbed on Friday, with the S&P 500 setting a fresh record.
On Friday, data showed that consumer sentiment in the U.S. rose in early June while inflation expectations fell.
The Federal Reserve’s balance sheet has exceeded $8 trillion for the first time, nearly doubling since March 2020.
The Labor Department said yesterday that consumer prices jumped 5% in May from a year earlier, the highest annual inflation rate in 13 years.
The FOMC meets next week, but no change in policy is expected. The European Central Bank on Thursday said it will keep its stimulus running at a high pace.
The crypto market stayed relatively flat, with Bitcoin trading in a neutral zone at $36,898. Investors are waiting for a catalyst that can help propel Bitcoin back above $40,000.
What Else?
This Week
Monday: Earnings expected from Stitch Fix and Vail Resorts.
Tuesday: Earnings expected from Casey’s General Stores and Thor Industries.
Wednesday: Earnings expected from Campbell Soup and GameStop.
Thursday: Earnings expected from Chewy and Signet Jewelers; Weekly jobless claims.
Friday: Consumer sentiment index.