The U.S. equity market ended a mixed session last Friday as investors awaited Fed’s next policy move. The S&P 500 closed down about 0.3%, the Dow climbed 0.4%, while the tech-heavy Nasdaq Composite shook off 1.3% due to the underperformance of tech stocks. St. Louis Fed President James Bullard said recently that the Fed might want between 3% and 3.25% on the Fed funds rate in the second half of this year.
Moreover, the Bank of America Corp. (BAC) analysts expect a recession, given the current bear market and inflationary conditions running hot due to the COVID-19 recovery and supply chain disruptions. This might cause another stock market correction, leading the S&P 500 to fall below the 4000 level at the end of this year.
