Markets
Here are today’s market moves:
S&P 500 up 0.14% to 4,208.12
Dow Jones up 0.07% to 34,600.38
Nasdaq up 0.14% to 13,756.33
Bitcoin: $37,671
US10Y: 1.59%
What Happened?
The S&P 500 and Dow Jones gained slightly on Wednesday as investors wait for fresh jobs data in the coming days.
Yesterday we mentioned that AMC is the new GameStop. AMC shares extended their gain today, climbing nearly 100%. Shares are up 3,000% year to date.
The crypto market is showing signs of stability after last month Bitcoin fell below $30,000 and Ether below $2000, wiping out many margin traders.
Risk appetite has risen recently as investors worry less about the risk of rising inflation after the Fed said it is only temporary.
Fed officials say that the economy still requires stimulus, but that the central bank is closely watching how things develop and will be ready to change its policy when necessary.
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.