Bulls seized control in a pivotal week for the stock market rally. Here's what to do now. Tesla broke out ahead of a big FSD Beta release.
What’s it going to take to knock the U.S. equity market off-kilter? After the prospect of a collapse of a giant Chinese property developer saddled with some $300 billion in debt saw blue chips put in their worst one-day decline in two months on Monday and the Federal Reserve confirmed on Wednesday it will soon start tightening monetary policy, the Dow Jones Industrial Average (DJIA) ended the week higher. The week’s narrative included the Federal Reserve finally confirming it is going to wind down its bond purchase program, implemented during the worst of the coronavirus pandemic last year, now that the economy is recovering, and also signalling an eventual rise in interest rates, though Fed Chairman Jerome Powell pushed back against the idea that was a certainty next year.
NEW YORK (Reuters) – The S&P 500 ended slightly higher on Friday after a volatile week as gains in growth names like Facebook offset a dive by Nike after the athletic wear company delivered a downbeat sales forecast.