“Chairman Powell and other Fed policymakers have reiterated that while they expect inflation to spike as the economy improves throughout this year, they do not expect the increase to be long-lasting“–Paul Ebeling
When the Fed’s policy-setting FOMC opens its 2-day meeting Tuesday, we do not expect officials to raise rates or otherwise signal any backing away from the easy money policies rolled out to aid the US economic bounceback, despite fear of rising inflation.
Fed officials have stated that they will not be spooked by temporary price increases into reacting too quickly and putting the brakes on stimulus measures.
Monday, the benchmark US stock market indexes finished at: DJIA -61.92 to 33981.57, NAS Comp +121.97 at 14138.80, S&P 500 +7.45 at 4187.62, and the Russell 2000 (+1.2%) outperformed.
Volume: Trade on the NYSE came in at 813-M/shares exchanged
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish in here.
- Russell 2000 +16.4% YTD
- S&P 500 +11.5% YTD
- DJIA +11.0% YTD
- NAS Comp +9.7% YTD
Looking Ahead: Investors will receive the Conference Board’s Consumer Confidence Index for April, the FHFA Housing Price Index for February, and the S&P Case-Shiller Home Price Index for February Tuesday.
Have a healthy day, Keep the Faith!