Thursday, 8 April 2021

US stocks at record high, economy “will likely boom”

Markets were mixed on Wednesday.

The S&P 500 rose 0.1 percent to a record high and the Nikkei 225 rose 0.1 percent. However, the STOXX Europe 600 fell 0.2 percent.

The minutes of the last Federal Reserve monetary policy meeting released on Wednesday showed that officials projected that it would “be some time” before the central bank’s employment and price goals are met, so in the meantime, “asset purchases would continue at least at the current pace”.

JPMorgan Chase CEO Jamie Dimon was somewhat more ebullient in his annual letter released on Wednesday, saying that “the U.S. economy will likely boom”, and that the boom “could easily run into 2023”.

“There are lots of reasons to be excited about the months ahead, and we’re generally optimistic for this year,” said Lindsey Bell, chief investment strategist at Ally Invest.

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