Wouldn’t be surprised if S&P tests new highs: Strategist
Slatestone Wealth chief market strategist Kenny Polcari on today’s markets and how the coronavirus recovery is impacting investors.
The equity markets in the U.S. will be closed Monday for Memorial Day.
There will be trading Monday in the futures markets — including stocks, oil and gold — until 1 p.m. ET.
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The bond market will be closed Monday so there will be no trading in U.S. Treasuries.
There will be trading in the currency market, although at a lower volume.
There will be trading Monday in global markets.
BITCOIN WON’T DISPLACE STOCKS, EXCHANGE TRADING: NYSE CHAIR CUNNINGHAM
Markets in Paris and Germany will be open Monday but the London Stock Exchange will be closed for a bank holiday.
Trading will also take place in Asia: China, Japan, South Korea and Hong Kong will be active.
|I:DJI||DOW JONES AVERAGES||34529.45||+64.81||+0.19%|
|I:COMP||NASDAQ COMPOSITE INDEX||13748.738578||+12.46||+0.09%|
U.S. equity markets closed out last week flirting with record highs Friday as President Biden unveiled his $6 trillion budget proposal and investors sifted through economic data and earnings reports.
STOCKS RALLY DESPITE INFLATION UPTICK, BIDEN’S $6T BUDGET
The Dow Jones Industrial Average gained 65 points or 0.19%, while the S&P 500 and the Nasdaq Composite advanced 0.08% and 0.09%, respectively. Both the Dow and the S&P 500 finished within 0.7% of their respective all-time highs. The Nasdaq was 2.8% off its own record peak.
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The major averages posted weekly gains as the month of May wrapped up with the Dow rising 1.9%, the S&P 500 0.6%, while the Nasdaq slipped 1.5%, the first down month since October.
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