Blaze Capital – The Stock Market closed at record highs this week! SPY SP500 put in an all time high of 427.4, Nasdaq moved over 14,000 and DOW jones was up 13 points. Stocks this week shrugged off Thursdays CPI report, even though this report showed inflation rising at a record rate. Treasury yields slid which took pressure off stocks and helped them move higher. Treasury yields sliding boosted tech stocks this week helping push the NASDAQ above $14,000. Investors and traders are watching the FED meeting this week closely. Any talk of tapering could bring a swift correction to stocks, or even crash the market!
Meme stocks were hot this week with AMC, GME, and others spiking up in the week, with many traders thinking the stocks are currently undergoing a short squeeze. Some analysts suggest the meme stocks are good for the market, bringing in fresh money and liquidity.