Wall Street stocks struggled for closing gains on Tuesday as a lack of clear market catalysts kept institutional investors in a holding pattern, while retail traders kept the rally of so-called meme stocks alive.
" are where the action is, but you flip it over and look crypto and that's a mess," Nolte said. "Now the meme stocks are taking over from crypto as the place to be and it's all a consequence of very easy monetary policy."
Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as, which could put upward pressure on wages, a precursor to wider inflation. Market participants look to Thursday's consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve's timetable for tightening its monetary policy.
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