Markets
Here are today’s market moves:
S&P 500 up 0.08% to 4,204.11
Dow Jones up 0.19% to 34,529.45
Nasdaq up 0.09% to 13,748.74
Bitcoin: $36,080
US10Y: 1.59%
What Happened?
U.S. stocks climbed on Friday as the Biden administration unveiled a $6 trillion budget that proposes a huge hike in government spending.
U.S. financial markets will be closed on Monday in observance of the Memorial Day holiday.
Major indexes closed out the month of May near all time highs. However, this month has seen large swings in everything from stocks to cryptocurrency.
The reason? A rise in inflation is causing fear that the Fed might raise interest interest rates sooner than expected.
Interestingly, markets are in fear mode even though stocks are sitting near record levels:
What Else?
This Week
Monday: Earnings expected from Nordson.
Tuesday: Earnings expected from Intuit, Nordstrom, and Urban Outfitters.
Wednesday: Earnings expected from Dick’s Sporting Goods, Honeywell, and Snowflake.
Thursday: Earnings expected from BestBuy, Costco, HP, and Salesforce.
Friday: Earnings expected from Big Lots and Brookfield Property.