Stocks Flat Despite Fed Commitment To Easy Policy For Now

(New York, NY) — The markets are flat Wednesday. However, the S&P 500 notched a closing record high after news from the Fed that they will continue their lax policy to aid economic recovery. Fed meeting minutes show that policymakers expect a significant economic rebound in 2021 to continue with stronger than average growth in the coming years. Bond yields also continued to dip from recent highs, but the markets overall appear to be continuing their breather. At the close, the Dow Jones Industrial Average ticked up 16 points to 33-446. The S&P 500 gained six to finish at 40-80 and the Nasdaq lost ten points to 13-689.

Some travel and leisure stocks continued their recent climb as the economic forecast improves. Carnival announced Wednesday it has seen a “record level” of bookings during the first quarter, up about 90-percent from the previous quarter. They also say 2022 bookings are on pace to beat those made in 2019 before the pandemic took hold. Carnival shares were up almost one-and-a-half percent on the news. Competitors Royal Caribbean and Norwegian Cruise Lines also saw gains on the day.

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