Markets
Here are today’s market moves:
S&P 500 down 0.20% to 4,246.59
Dow Jones down 0.27% to 34,299.33
Nasdaq down 0.71% to 14,072.86
Bitcoin: $40,242
US10Y: 1.496%
What Happened?
The S&P 500 and other major U.S. indexes fell on Tuesday as data showed retail spending fell 1.3% in May.
U.S. producer price inflation jumped to 6.6% in May, the largest year-over-year increase in history.
The two-day Fed meeting is underway. Investors are waiting for any signs that the central bank is thinking about altering its monetary policy as the economy recovers.
While the central bank is not expected to make any changes to policy, it could update its economic forecasts due to higher inflation and a booming economic rebound.
Fun fact: total U.S. job openings recently reached a new record
What Else?
This Week
Monday: Earnings expected from Hexo Corp.
Tuesday: Earnings expected from H&R Block and Oracle.
Wednesday: Earnings expected from Honest Co and Lennar Corp.
Thursday: Earnings expected from Adobe and Kroger. FOMC rate decision. Weekly jobless claims.
Friday: Bank of Japan monetary policy decision.