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Eerie Equity Calm Puts Wall Street on High Alert for Next Spark

  • Trading volume craters even as stock benchmarks hit records
  • Analysts point to inflation, earnings as potential catalysts
Bloomberg business news
Citi’s Levkovich: 3 Reasons to Be More Cautious

The quietest week in stocks so far in 2021 has Wall Street wondering what will break the calm.

Equity trading volume plunged as the S&P 500 marched to an all-time high, with the five-day average across U.S. exchanges dropping to 9.5 billion shares traded -- the lowest since October, according to Bloomberg data. Friday was particularly placid, with just 8.7 billion shares moving, the lowest daily total since Christmas Eve.