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Jun 14 - Nasdaq and S&P 500 both hit record highs



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 2 months ago '11        #1
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Sin  topics gone triple plat - Number 1 spot x35
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Jun 14 - Nasdaq and S&P 500 both hit record highs
 

 
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The Nasdaq Composite jumped to a record high on Monday as investors rotated back into growth-oriented stocks ahead of a key Federal Reserve meeting.

The tech-heavy benchmark rose 0.7% to an all-time closing high of 14,174.14, overtaking the previous record on April 26. The S&P 500 gained about 0.2% to another record close 4,255.15, boosted by the technology sector. The Dow Jones Industrial Average slipped 85.85 points, or nearly 0.3%, to 34,393,75.

Investors are giving growth and tech stocks another chance as bond yields come down. The 10-year Treasury fell below 1.43% on Friday, a three-month low. Cathie Wood’s Ark Innovation, an ETF that focuses on disruptive technology, returned about 6% last week. The fund rose 1.9% Monday even as the benchmark Treasury yield rose briefly back to 1.5%. Apple and Netflix both jumped more than 2%, while Amazon, Microsoft and Facebook also registered gains.

Boosting cryptocurrency sentiment, Tesla CEO Elon Musk on Sunday said the company will resume bitcoin transactions once it confirms there is reasonable clean energy usage by miners. Bitcoin recovered back above $40,000 Monday. Tesla, a big holder of bitcoin, climbed nearly 1.3%.

“The broad market’s modest performance is pretty much in line with historical patterns— specifically, June’s tendency for generally quiet trading,” said Chris Larkin, managing director of trading at E-Trade Financial. “As the market continues to sort through potential moves made by the Fed and looming inflation, we could continue to see this narrative play out in the short-term.”

The Fed’s two-day policy meeting will likely dominate investor behavior this week. Although the central bank is not expected to take any action, its forecasts for interest rates, inflation and the economy could move the markets. The Fed could possibly move up its forecast for a rate hike after saying in its last quarterly update that it would keep its benchmark rate near zero through 2023, the Wall Street Journal reported on Monday.

Fed Chairman Jerome Powell will speak to the press after the central bank issues its statement Wednesday. Traders will be parsing his comments for any clues as to when the Fed could start to end its aggressive monthly a*set purchases, especially given recent hotter-than-expected inflation readings.

Billionaire hedge fund manager Paul Tudor Jones said this week’s Fed meeting could be the most important in Powell’s career, and he warned that the chairman could spark a big sell-off in risk a*sets if he doesn’t do a good job of signaling a taper.

“If they course correct, if they say, ‘We’ve got incoming data, we’ve accomplished our mission or we’re on the way very rapidly to accomplishing our mission on employment,’ then you’re going to get a taper tantrum,” Tudor Jones said. “You’re going to get a sell-off in fixed income. You’re going to get a correction in stocks.”

U.S. stocks ended last week with a record closing high for the S&P 500 and the beginning of a rotation back into growth names.

Last week, the 30-stock Dow Jones Industrial Average fell 0.8%, but the S&P 500 rose 0.4%, for its third straight positive week. The Nasdaq Composite was the outperformer with a gain of nearly 1.9%, posting its fourth winning week in a row as the tech trade came back into favor.

visit this link https://www.cnbc.com/2021 .. cord-high.html


Last edited by Sin; 06-14-2021 at 03:26 PM..
+4   



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15 comments
 

 2 months ago '17        #2
Ymmot  topics gone triple plat - Number 1 spot x4
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Hell yeah, all green erything.
+1   

 2 months ago '04        #3
d.c. supreme  topics gone triple plat - Number 1 spot x1
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my portfolio was up 1.57% today outpacing nasdaq

+2   

 2 months ago '15        #4
TheCompanyMan  topics gone triple plat - Number 1 spot x1
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 SweezyDeuce said
Republikkkans not gonna like this ��
They’ll just say it never happened. They’re undefeated at remixing history.
+4   

 2 months ago '17        #5
Ifeellikekobe  topics gone triple plat - Number 1 spot x3
Props total: 71086 71 K  Slaps total: 4873 4 K
My two Amc stocks look good

+3   

 2 months ago '19        #6
MarathonOG 
Props total: 513 513  Slaps total: 232 232
When you lock everyone inside and print trillions of dollars, this is the result.

Enjoy the inflation Amerizuela
+3   

Top 10 most propped recently  2 months ago '17        #7
LostTenets  topics gone triple plat - Number 1 spot x47
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I'm learning but I'm in there


What we looking at this week
+1   

 2 months ago '11        #8
Sin  topics gone triple plat - Number 1 spot x35 OP
Props total: 157409 157 K  Slaps total: 21988 21 K
 LostTenets said
I'm learning but I'm in there


What we looking at this week
the fed decision could turn the market into turmoil on Wednesday

but most predict they'll keep the money machine pumping
+1   

 2 months ago '11        #9
Sin  topics gone triple plat - Number 1 spot x35 OP
Props total: 157409 157 K  Slaps total: 21988 21 K
 MarathonOG said
When you lock everyone inside and print trillions of dollars, this is the result.

Enjoy the inflation Amerizuela
enjoy the good times while their here



Top 10 most propped recently  2 months ago '17        #10
LostTenets  topics gone triple plat - Number 1 spot x47
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 Sin said
the fed decision could turn the market into turmoil on Wednesday

but most predict they'll keep the money machine pumping
Just copped some GNLN after an article I read


No day trades left till tomorrow
+1   

 2 months ago '19        #11
jordanair45 
Props total: 6620 6 K  Slaps total: 1483 1 K
They’re not going to keep pumping this article is BS fed is already tapering off and Biden wants no masks

Covid is over

Always do the opposite of what white rich people tell you.
+2   

 2 months ago '20        #12
RockyII 
Props total: 10155 10 K  Slaps total: 1389 1 K
Thank you Trump! This is alllll because if Trump..





Or whatever idiot trump supports will say


+1   

 2 months ago '11        #13
Sin  topics gone triple plat - Number 1 spot x35 OP
Props total: 157409 157 K  Slaps total: 21988 21 K
 jordanair45 said
They’re not going to keep pumping this article is BS fed is already tapering off and Biden wants no masks

Covid is over

Always do the opposite of what white rich people tell you.
I’m gambling on the money machine keeps pumping until 2022





Last edited by Sin; 06-15-2021 at 07:36 AM..

 2 months ago '04        #14
erickonasis  topics gone triple plat - Number 1 spot x2
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 RockyII said
Thank you Trump! This is alllll because if Trump..





Or whatever idiot trump supports will say


Biden was given a great economy from the Trump administration so pretty much have to give him the credit



+1   

 2 months ago '20        #15
RockyII 
Props total: 10155 10 K  Slaps total: 1389 1 K
 erickonasis said
Biden was given a great economy from the Trump administration so pretty much have to give him the credit



The GREATEST economy ever was handed to Biden! With a surplus of cash reserves and a HUGE decrease in the national debt



+1   



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