U.S. Equity Markets were mixed on a quiet day’s trading with the Dow closing flat while the NASDAQ 100 closed 0.28% higher. Markets were mixed following a decline on Tuesday. Early in the morning, headlines were focused on JPMorgan CEO Jamie Dimon’s shareholder letter, where he said that the U.S.’s economic “boom” could carry over until 2023. There was nothing new out of the Federal Reserve’s Minutes from the most recent meeting. The Minutes showed that many Fed members see any increased inflation only to be temporary, easing fears of a sustained spike. And Fed speakers voiced more support for the economy. San Francisco Fed President Mary Daly said that the Fed’s balance sheet was far from hitting any limits, meaning that it can continue its asset purchases. And Dallas Fed President Robert Kaplan said that the Fed will not raise rates to combat inflation as quickly as it has in the past, signalling a continued period of low Interest Rates. European Markets declined. The European Central Bank’s (“ECB”) Governing Council member Pierre Wunsch said the European Union’s economy was recovering, adding that the ECB is considering extending stimulus measures beyond March 2022. Markit’s final Euro-Zone composite purchasing managers’ index (“PMI”) showed new orders hit their highest levels since September 2018. On the vaccine front, EU officials said that they found possible links between AstraZeneca’s vaccine and blood clots, while also saying that the benefits of the shot outweigh the risks. And officials from Europe, the U.S., and Iran discussed potentially easing sanctions and reducing uranium enrichment to bring all parties back into the 2015 nuclear accord. Elsewhere, Oil closed 0.42% higher after the Energy Information Administration (“EIA”) reported another oil inventory drawdown, while Bitcoin fell 5% on no news.
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