Markets
Here are today’s market moves:
S&P 500 down 1.04% to 4,188.43
Dow Jones down 0.10% to 34,742.82
Nasdaq down 2.55% to 13,401.86
Bitcoin: $55,580
US10Y: 1.59%
What Happened?
The S&P 500 fell on Monday after closing at a record high on Friday.
Why? Technology and other growth stocks tumbled Monday, driving major indexes lower. Investors are rotating out of tech into value stocks as the economy begins to reopen.
Dogecoin had an eventful weekend. It crashed 30% after Elon’s SNL appearance, and SpaceX announced on Sunday that it is launching a satellite called Doge-1.
Consumer expectations for price inflation are increasing, but the Fed has made it clear that it plans to look past short-lived increases and maintain cheap-money policies.
Earnings season continues this week, with Airbnb, Disney, Coinbase, and Palantir all scheduled to report.
What Else?
This Week
Monday: Earnings expected from Virgin Galactic and Tyson Foods.
Tuesday: Earnings expected from EA, Palantir, and Roblox.
Wednesday: Earnings expected from Bumble, Lemonade, and Toyota.
Thursday: Earnings expected from Airbnb, Disney, and Coinbase.
Friday: Earnings expected from Honda.