Just In: The Florida House denounced democratic socialism Tuesday with the sponsor of a resolution invoking the name of the country’s big mouth socialist, Senator Bernie Sanders (I-VT), calling it and him a threat to America’s democracy.
“A lot of inflation has been priced into the market, so, it has to exceed those expectations in order to see a more pronounced reaction from markets.” — Paul Ebeling
US Stocks climbed to record highs and Treasury yields fell as investors bet that a higher-than-forecast rise in inflation will be enough to slow this strong growing economy. Historically inflation is good for stocks.
The S&P 500 closed at an all-time high, The tech-heavy NAS Comp also set a record while the DJIA finished off a bit.
The CPI rose more than expected in March, but investors believe that the acceleration was not fast enough to warrant any Fed policy change. The drop in Treasury yields weighed on bank shares.
Monday, the benchmark US stock market indexes finished at: DJIA -68.13 to 33677.27, NAS Comp +146.10 at 13996.13, S&P 500 +13.60 at 4141.59
Volume: Trade on the NYSE came in at 863-M/shares exchanged
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish in here,
- Russell 2000 +12.9% YTD
- S&P 500 +10.3% YTD
- DJIA +10.0% YTD
- NAS Comp +8.6% YTD
Looking Ahead: Investors will receive Import and Export Prices for March, the Fed’s Beige Book for April, and the weekly MBA Mortgage Applications Index Wednesday.
Have a healthy day, Keep the Faith!