Major indexes receded from last week's highs, as the S&P 500 ended the day at 4,127.99—down 0.02%.
 | MON, APR 12, 2021 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 131.24 | -1.75 | -1.32% | | INTC | 65.41 | -2.85 | -4.18% | | MSFT | 255.91 | +0.06 | +0.02% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 131.24 | -1.75 | -1.32% | | AMD | 78.58 | -4.18 | -5.05% | | VIAC | 39.77 | -2.11 | -5.04% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 131.24 | -1.75 | -1.32% | | AMD | 78.58 | -4.18 | -5.05% | | INTC | 65.41 | -2.85 | -4.18% | |
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Major indexes receded from last week's highs, as the S&P 500 ended the day at 4,127.99—down 0.02%. The tech-heavy Nasdaq Composite slipped 0.4%, while the Dow Jones Industrial Average fell about 55 points. However, it was a good day for select tech stocks. Tesla jumped 3.7% after Canaccord Genuity upgraded the stock to "buy" and boosted its price target to $1,071. Meanwhile, software company Nuance Communications ended the day up nearly 16% on news that Microsoft would acquire it in a $16 billion deal. Calm is the theme of the day as the Cboe's volatility index—the market's fear gauge—was at 16.9 after the market closed. It's a world away from the index's level of 82.69 on March 16, 2020.  But whether that pattern will hold remains to be seen. Investors are keeping a close eye on notable quarterly earnings releases from banks this week, as well as a key inflation report that will be released on Tuesday: the March consumer price index. The Fed and some economists are expecting a pick-up in inflation—albeit a temporary one—as newly vaccinated consumers begin spending and the economy reopens. Don't read too much into reports of rising inflation, especially if you're comparing it to last year when lockdowns were in place, warns Robert J. Schoen, chief investment officer, global asset allocation at Putnam Investments. "We will soon see the impact from the 2020 Covid-19 pandemic on the economic data," he wrote in a note. "A particular focus area will be inflation. Our message is simple: Don't fall prey to this head fake." |
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