Uber, Lyft give rides to vaccinations.
YouTube intros $100M creator fund.
Market Moving Headline:
St. Louis Federal Reserve President James Bullard acknowledged the progress the economy has made but said Tuesday it’s still not time to ease back the throttle on policy.
In an interview on CNBC’s “Closing Bell,” the central bank official said fiscal and monetary policy help as well as aggressive vaccination efforts have helped keep growth going since the Covid-19 pandemic began in March 2020.
But he added that even with rising inflation ahead, the Fed should stay accommodative in its policy stance until there are clearer signs that the virus no longer poses as major a threat. That includes keeping short-term borrowing rates anchored near zero and continuing to buy at least $120 billion a month even as markets wonder when the Fed will start pulling back on those purchases.
Snack, where Tinder meets TikTok.
Ford reveals details on electric truck.
The impact of no stimulus on stocks.
Market Moving Headline:
The tech-heavy Nasdaq 100 Index tumbled 2.6% amid the growing anxiety over inflation, which can threaten longer-horizon revenues typical of the sector. Tesla and Apple were among the biggest decliners. The ARK Innovation ETF resumed its slide. The Dow Jones Industrial Average briefly topped 35,000 for the first time. The benchmark S&P 500 fell from an all-time high. Treasury yields edged higher as traders brace for a busy week of auctions.
“Amid these new highs remember that the market doesn’t move only in one direction,” said Chris Larkin, managing director of trading and investing product at E Trade Financial. “While a full economic recovery may already be priced into the market, the weak employment data could have temporarily eased worries about too-hot inflation and the necessity of interest rate hikes to combat it.”
Story on how Jeff Bezos beat press.
Could incentives sway anti-vaxxers?
Market Moving Headline:
Index futures in price discovery.
Other key takeaways include:
- Earnings were great. NFP not so much.
- Big bets over a Jackson Hole surprise.
- Indices diverge. S&P 500, Dow higher.
Technically speaking, equity indexes are at an interesting juncture.
The Dow Jones Industrial Average and S&P 500 resolved their multi-week consolidations, to the upside, while the Russell 2000 is rotating within prior range and Nasdaq 100 is relatively weak, losing support and auctioning into a low-volume area.
Further, the strong break in the S&P 500, which targets the Fibonacci-derived price extension near $4,300, has thus far been validated by numerous hours of trade outside of the consolidation zone (i.e., balance area). To note, though, the structure left behind Friday’s price discovery was very poor, opening the door for potential repair.
Tech digs archaeologists into hole.
Neuroelectrics raises for epilepsy.
Covid cases to see a sharp decline.
85% of small businesses are open.
Alaska Air, Boxed Water partner up.
Wix bought Rise.ai for engagement.
Market Moving Headline:
Inflation looks set to overshoot the Fed’s target as we have expected. Yet we see uncertainties around the near-term persistence of the overshoot as the restart leads to unusual supply and demand dynamics. We have closed our tactical overweight in inflation-linked bonds as inflation expectations have risen sharply, but favor them strategically as we see medium-term inflation still underpriced.