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dessyag
2021-04-07

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Dow falls nearly 100 points from a record high, S&P 500 breaks a 3-day winning streak

U.S. stocks fell from record levels on Tuesday as the recent rally driven by signs of strong economi

Dow falls nearly 100 points from a record high, S&P 500 breaks a 3-day winning streak

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atsc
·2021-04-07
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Economists polled by Dow Jones were expecting a total of 7 million.\nStocks rallied to record highs on Monday after Friday’s blowout jobs report and a surge in the gauge of services industry activity showed the economic rebound gained momentum amid accelerated vaccine rollout.\n“Markets today are also still digesting a ‘trifecta’ of strong start-of-the-month reports,” Chris Hussey, a managing director at Goldman Sachs, said in a note. “But even on the back of all of this good news, with the S&P 500 already up 8.5% ytd, today is a time for markets to ‘consolidate’ as they await the next batch of news — 1Q21 earnings season.”\nBig banks including JPMorgan and Goldman Sachs kick off the new earnings season next week. First-quarter earnings are expected to be up 24.2% year over year, compared to 3.8% growth in the fourth quarter, according to Refinitiv.\nBond yields continued to fall from recent highs, easing fears of rising inflation. 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