Good MorningEquity markets advanced on Wednesday to set a new high following the FOMC announcement. The FOMC did not indicate when a rate hike would come but confirmed it was on pace to cut rates by three 25-basis point increments this year. The takeaway is that markets got what they wanted, a sign the pivot to lower interest rates was near. As it is, the first may not come until July or later, suggesting a succession of cuts will come in the back half of the year.
The S&P 500 advanced nearly 0.8% to set a new all-time high. The move extends the rally from a short consolidation that bears the hallmarks of a continuation signal. Assuming the market follows through on this signal, it could advance by as much as 8% over the next three months. The next hurdle for the market will come next week with the PCE price index. If it confirms the acceleration of inflation shown by the CPI data, equity markets may begin to doubt the Fed's resolve.
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Markets | | | You can think of the S&P 500 and the NASDAQ 100 indexes as the sun that gets the rest of the stock market booming or busting. As these have been making all-time highs lately, you’ll notice that not all stocks joined the party. Likely pricing in the potential interest rate cuts that the F... Read the Full Story >> |
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Stocks | | | Hopping on the next market trend is easier said than done. However, there is one simple and logical way to find the next winning sector in the market. By tracking exchange-traded fund (ETF) activity, you can spot the shifting money tides before the opportunity has passed you by. Because the... Read the Full Story >> |
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Stocks | | | Nio Inc. (NYSE: NIO) stock price has trended steadily lower since the EV bubble burst, and it is on track to set new lows. The latest earnings release reveals the continued dominance of the Chinese EV market at the cost of investor value. The company is improving its margins but has yet to produce... Read the Full Story >> |
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Markets | | | Global benchmarks were mostly higher on Thursday after U.S. stocks rallied to records following indications from the Federal Reserve that it expects to deliver interest rate cuts later this year. France's CAC 40 rose 0.5% in morning trading to 8,199.57, while Germany's DAX edged up 0.8% to 18,159.77... Read the Full Story >> |
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Markets | | | Reddit and its eclectic bazaar of online communities is ready to plumb high-stakes territory — the stock market.The company said Wednesday that it had priced its IPO at $34 a share. Shares will begin trading today on the New York Stock Exchange under the ticker symbol "RDDT" in a market debut likely... Read the Full Story >> |
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Stocks | | | Spire Global (NYSE: SPIR) emerged as an AI winner during Nvidia Corporation's (NASDAQ: NVDA) GTC developer conference. The conference was a name-dropping event as much as anything, with Nvidia CEO Jenson Huang mentioning numerous critical players in AI. The news for Spire Global is a collaboration... Read the Full Story >> |
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Markets | | | Strength in Ollie’s Bargain Outlet (NASDAQ: OLLI) results, including market-leading growth and broader margins, suggests this stock is a buy on post-release weakness. Nothing in the report was bad, but strength was expected, so a sell-the-news event caused a marginal reduction in the price. ... Read the Full Story >> |
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Markets | | | The Swiss National Bank said Thursday that it is trimming its key interest rate, a surprise move that makes Switzerland the first major financial center to announce a cut in recent months.Thomas Jordan, the outgoing SNB chairman, credited the central bank's push to rein in inflation in the wealthy A... Read the Full Story >> |
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Markets | | | The Bank of England is widely expected to indicate Thursday that interest rates could be cut in the coming months following news that inflation across the U.K. is falling faster than expected.The central bank, which sets monetary policy for the U.K., is expected to keep its main interest rate unchan... Read the Full Story >> |
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Markets | | | New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023.The country's economy shrank by 0.1% in the quarter to December, and 0.7% in per capita terms, the New Zealand's official statistics agency, St... Read the Full Story >> |
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