At-a-Glance
Key Takeaways with Ryan
Starting off the week on a lighter day in terms of data, equity markets are seeing strength with the S&P, Nasdaq and Russell all showing gains on the session today. The Russell led these markets to the upside being up over 1% on the session, and as mentioned previously, may continue to have larger swings due to the uncertainty of the Fed environment. Although the Russell showed the highest gain, the S&P still traded at a higher high from last week and the broad strength in equities still remains after the early April selloff.
Along with the equities, the Crypto markets saw broad strength on the session today with Bitcoin, Solana, Ether and XRP all seeing gains over 3%. Bitcoin saw a new high in May of $112,345, and now prices are trading near the $110,000 mark and showing strong upside momentum. Traders will be looking at that all time high price to see if there can be another strong breakout or if prices will settle down from there. For the rest of the week, there will be a few important earnings reports and economic data metrics that could add volatility to the indices ahead of the Fed meeting next week on Wednesday.
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