S&P 500, NAS Comp Mark Record Closing Highs

#stocks $Fed #inflation#economy


The S&P 500 and NAS Comp marked record highs at the close Monday/

Investors are seeking new cues from the Fed on its inflation outlook, after recent data indicated the economy is regaining momentum but not overheating. This has eased investor worries about inflation.

While the Fed has reassured that any spike in inflation would be transitory, FOMC policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting.

We do not expect a decision before the Fed’s annual Jackson Hole, Wyoming, conference in August.

Any shift in the Fed’s dovish rhetoric could upend equity markets.

The S&P benchmark has climbed 13.1% this year, while the DJIA and the NAS have risen 12.7% and 9.2%, respectively.

Monday, the DJIA fell 85.85, or 0.25%, to 34,393.75, the S&P 500 gained 7.71, or 0.18%, as 4,255.15, the NAS comp added 104.72, or 0.74%, at 14,174.14, and the Russell 2000 +17.8% YTD

Looking Ahead: Tuesday, key reports will include Retail Sales for May, the Producer Price Index for May, and Industrial Production and Capacity Utilization for May. 

Have a healthy day, Keep the Faith!