The S&P 500 closed up 1.33%, with Consumer Discretionary being the best-performing sector. Apple rebounded 3.4% due to increasing iPhone production in India. Boeing's stock declined 5% in after-hours trading as the company announced a reduction in 737 Max production and deliveries due to manufacturing issues. Paypal is up 2.75% as it announced a cut in pay for its departing CEO. Alibaba's stock rebounded 2.5% after a recent sell-off due to Softbank Group liquidating its position in the company. The Purchaser Price Index showed a decrease in prices charged by producers, indicating a possible easing of inflation. Initial Jobless claims came in higher than expected, potentially introducing some slack in the services sector to help fight inflation. Delta Airlines and Progressive reported disappointing earnings, with Progressive's combined ratio coming in higher than expected. Tomorrow, earnings from banks and healthcare providers will be announced. The recap also highlighted the risk of a money market bubble caused by investors seeking safer investments during economic uncertainty, which can lead to lower interest rates, reduced lending activity, and slower economic growth.