Stocks Hover Near Record Highs, USD Mixed, Lira In Freefall, Bitcoin Exhaustion – Investing.com

Stocks Hover Near Record Highs, USD Mixed, Lira In Freefall, Bitcoin Exhaustion – Investing.com

Earnings continue to impress as 84% of companies have topped expectations. U.S. stocks are hovering near record highs, but seem poised to consolidate until investors know what will be the final version of Biden’s economic package and until next week’s earnings updates from the rest of the mega-cap tech stocks. The U.S. economy is still on solid footing, but now inflation remains the biggest threat.  The commodity move higher may continue as rising production costs and some COVID outbreaks could continue to derail output.

U.S. Data

A mixed bag of economic data did not move the needle for investor expectations on when the Fed will raise rates. made a new post-pandemic low, the housing market saw better-than-expected demand for previously owned homes, while the softened and the leading index dipped more than forecasts.