Markets
Here are today’s market moves:
S&P 500 down 0.087% to 3,971.09
Dow Jones up 0.30% to 33,171.37
Nasdaq down 0.60% to 13,059.65
Gold: $1,711
Bitcoin: $57,368
US10Y: 1.715%
Oil: $61.58
What Happened?
The S&P 500 finished Monday slightly in the red, with bank shares falling amid reports of possible losses from an investment firm’s default on margin calls.
The $30 billion margin event has created concern that banks dealing with the firm might face sharp losses.
The Dow Jones managed to close at a record high after the White House announced that 90% of adults will be eligible for the Covid-19 vaccine next month.
The market could remain volatile for the next several days as portfolio managers adjust their holdings at the end of the first quarter.
Analysts believe the outlook for stocks remains positive, with the economy expanding at a healthy rate, U.S. vaccination efforts accelerating, and interest rates still at historically low levels.
This Week
Tuesday: Earnings expected from BioNTech, Chewy, H&M, Lululemon, and McCormick.
Wednesday: Earnings expected from Micron and Walgreens.
Thursday: Weekly jobless claims released.
Friday: March unemployment data released; Stock market closed for Good Friday.