Wall Street has found something else to worry about
Persistent inflation remains the Federal Reserve’s No. 1 concern, even as the banking sector remains on edge after two big bank failures last month. This week’s Consumer Price Index, due to be announced Wednesday at 8:30 am ET, could determine whether the central bank raises rates again in May. That means it will also weigh on markets, especially now that Wall Street’s focus has shifted from the financial system to the economy.
The report found that retail traders continued to be net buyers of equities in March. That means Main Street traders, not large financial institutions, are purchasing the majority of new stock in the US. The increasing power of the retail investor – fueled by stimulus cash, easier access to trading platforms and more market education amongst other things, has been an ongoing trend since the beginning of the pandemic.
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