Here are today’s market moves:
S&P 500 up 0.64% to 3,968.77
Dow Jones up 0.53% to 32,952.28
Nasdaq up 1.05% to 13,459.71
Gold: $1,731
Bitcoin: $56,627
US10Y: 1.60%
What Happened?
Stock indexes climbed on Monday, led by tech shares. The S&P 500 advanced 0.64% to a record high, while the Nasdaq closed the day up 1.05%.
This month, the stock market has been led higher mainly by sectors that are expected to rebound with the economy, such as energy and banks.
Investors are trying to find a balance between the risks of rising inflation and the progress on vaccines and economic recovery.
$1,400 stimulus checks are on the way. According to analysts, $150 billion, or 37% of the stimulus payments, could flow directly into stocks (The Reddit day-trading army is more powerful than you might think).
Around this time last year, markets were in turmoil as the economy was just starting to shut down due to the COVID-19 pandemic. Policymakers stepped in very quickly though, and markets managed to bounce back. Here are some interesting numbers:
The S&P 500 is up 66% since the March 2020 bottom. The Nasdaq is up 94% since then.
The US government has passed $5.3 trillion worth of stimulus during the pandemic — that's $43K per household.
20% of all US dollars were created in 2020.
What Else?
This Week
Monday: Earnings expected from H&M.
Tuesday: Earnings expected from Coupa and Volkswagen.
Wednesday: Earnings expected from Lennar; Fed policy meeting – Jerome Powell is likely to reiterate his no-tightening policy stance.
Thursday: Earnings expected from Dollar General, FedEx, and Nike; Weekly jobless claims.
Friday: Earnings expected from BRP.