Some of us are hoping that a year of remote work will lead to greater job flexibility. Others can’t wait to get out of the house.The market’s latest bout of selling comes as investors remain focused on the possibility of inflation as the economy stirs to life after more than a year of shutdowns related to the COVID-19 pandemic.
The market’s pullback this month reflects heightened unease among traders that rising inflation may prompt central banks to pull back on their efforts to support job growth before the economic recovery is fully realized. The Federal Reserve has said it expects any bump in inflation to be temporary, though investors are uncertain about how hot inflation could become.
Solid earnings helped lift several companies Friday. Foot Locker rose 2% after reporting solid first-quarter earnings and revenue. Agricultural equipment maker Deere gained 1.3% after beating Wall Street’s fiscal second-quarter profit forecasts.