Today's Market Synopsis- Markets Rise Monday
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On Monday, the markets rose led by big banks. President Biden spoke on tarrif reduction for common goods that currently exist between the US and China. The DOW rose 1.9% and major world indicies followed.
Last week was a shock to world markets as retail giants Walmart and Target reported earnings fell and inventories rose. The cryptocurrency market still suffered from the Luna/UST collapse and tech stocks foundered.
We stand at an inflection point. We can buy the dip or watch the markets burn and hoard cash for the apocalyptic crash. With pandemics, global instability, regulations, inflation and the threat of the unknown it seems like markets are one bad headline from a major correction. The S&P 500 teetered around the psychological level of 4,000 last week, and I was read to see it sink to 3,500. Things looked dire.
The market rose, but futures are falling this evening. Will the market continue upwards or trend downwards as it has been? No one knows.
I am taking a breather on buying the dips. I have my favorite dividend stocks I'm buying regularly and funds of indicies for retirement. Given the wild and unpredictable nature of the markets in an unstable world stage, I'm watching and waiting for the next leg up or down.
Posted in Hive, Blurt and Steemit