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The DJIA fell 0.03% The S&P 500 was down 0.03% The Nasdaq Composite slipped 0.13%
Industrials and pharmaceuticals led the market today.
General Market Review
Financials
Investors are focused on monetary policy as the Fed is expected to deliver a balanced outlook on the economy. The Fed is forecast to keep rates the same through 2023. While a faster pace of inflation is expected post-Covid, the Fed will likely not taper bond purchases.
Industrials
While General Electric missed expectations on earnings, it beat revenue and reported better-than-expected free cash flows. GE was up about 2% today. Boeing is set to release a quarterly report early tomorrow.
Earnings
Johnson & Johnson reported positive earnings today with an EPS of $1.86 and revenue of $22.48 billion. These earnings compare to investor expectations of $1.82 for EPS and $21.67 for revenue. Analysts are anticipating the authorization of the J&J vaccine by as early as next month. This vaccine would only be a single dose. JNJ gained close to 3%.
