Equities surge as technology stocks outperform

Stocks rise as technology stocks outperform

The S&P 500 was up about 1% after the end of last week. The Dow and Nasdaq ended higher. Technology Equities outperformed as government bond yields fell.

Bitcoin (BTC-USD) prices rose steadily by more than 13% after the largest cryptocurrency by market capitalization weathered a prolonged streak of sales over the weekend. At its worst point during last week’s sale, Bitcoin prices were more than 50% below their high of more than $ 64,800 as of mid-April. Ethereum (ETH-USD), the second largest cryptocurrency, also posted some losses on Monday morning. Prices rose more than 20% to over $ 2,400.

“I also think that the big market concerns about inflation are – well, you only care about inflation when the Fed cares about inflation,” he added. “And the people in the FOMC [Federal Open Market Committee] Anyone who rang a warning bell should perhaps start talking about rejuvenation, as a lot of the data has come in weaker than expected since that meeting … and I think that gives ammunition to the more reluctant people to move that conversation further outward over time . “

“Although inflation expectations have risen, our replication of the Fed’s benchmark is still below the level of the 2001-2007 expansion,” Goldman Sachs chief economist Jan Hatzius wrote in a note on Monday.

“Ultimately, the biggest question is whether the economy will overheat, that is, will production and employment rise well above potential,” he added. “We don’t expect this because the starting point is a significant slack – especially when we consider not only GDP-based but also employment-related measures to measure the output gap – and because growth is likely to slow from its current rapid pace, the fiscal impulse will negative next year. “

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