A trader is on the floor.
AP Photo/Richard Drew
The Federal Reserve's meeting this week is what caused the US stocks to fall on Monday.
Chairman Powell could speed up the Fed's monthly bond purchases.
When the Fed expects to begin raising interest rates will be revealed.
US stocks dropped on Monday, opening the week lower, after last week's gains, ahead of a key Federal Reserve policy meeting this Tuesday and Wednesday.
The Fed Chairman is expected to announce a quickening of the central bank's monthly bond-buying program as it seeks to combat an ongoing rise in inflation. When the Fed may raise interest rates is a topic that investors will be interested in.
Bill Ackman believes that rising home rents are not included in the Bureau of Labor Statistics calculations and that the government is under reporting the rate of inflation.
The US indexes stood at 4:00 pm. The close is Monday.
The stock fell 2% after it came within a hair of hitting a $3 trillion market valuation. Apple needs to hit $182.86 to reach the milestone.
Apple's upcoming budget 5G iPhone SE will help accelerate sales and drive the stock to $210 in 2022, according to a report. Apple was one of the bank's top picks.
Pfizer agreed to acquire Arena Pharmaceuticals for over $6 billion, or $100 per share. Arena Pharmaceuticals is working on a drug for ulcerative colitis.
The mayor of Miami is going to take some of his retirement savings in the virtual currency as he continues to promote the city as a place to live.
AMC Entertainment and GameStop plummeted as both stocks suffered from deteriorated technical conditions, including an imminent "death cross".
The price of West Texas Intermediate crude oil dropped as much as 4%. The international benchmark for oil fell as much as 0.88%.
The price of gold rose as much as 0.17%.
Business Insider has an original article.
