Markets
Here are today’s market moves:
S&P 500 up 0.51% to 4,246.44
Dow Jones up 0.20% to 33,945.58
Nasdaq up 0.79% to 14,253.27
Bitcoin: $32,287
US10Y: 1.467%
What Happened?
The S&P 500 and Nasdaq gained today after Fed chair Powell reiterated that inflation pressures will be transitory.
Powell signaled the central bank would be patient, saying the Fed had to be “very humble” about its ability to draw a signal out of the economic data given “such an unusual setting of reopening the economy.”
The Nasdaq Composite rallied to a fresh record, led by tech stocks.
Bitcoin fell below $30,000 for the first time since January. The overall crypto market has lost $1.3 trillion in value since May.
What Else?
This Week
Tuesday: Existing homes sales report.
Wednesday: Earnings expected from IHS Markit.
Thursday: Earnings expected from FedEx, and Nike. Weekly jobless claims.
Friday: Earnings expected from Carmax and Paychex.