8th June 2021 Morning Report

The S&P 500 ended slightly in the red on Monday, with investors standing on the side-lines, awaiting news of a global minimum corporate tax rate, lingering inflation fears, and further market-moving economic news. The Dow closed in marginally negative territory while the NASDAQ was in marginally positive territory.

The market is evenly balanced between those who see inflation as transitory and those who see it as persistent. The next inflation data is expected Thursday with the release of the CPI report. 

Saturday, the Group of Seven (G7) advanced economies backed a minimum global corporate tax rate of at least 15%, which US Treasury Secretary Janet Yellen called a “significant, unprecedented commitment” to bring what she called “a race to the bottom on global taxation.”

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