Good MorningEquity markets advanced on Thursday following an as-expected inflation report. The January PCE Price Index confirmed what the market knew: inflation is accelerating month-to-month and is still hot compared to last year. The good news is that the data aligns with the idea the FOMC is done hiking interest rates. The bad news is that the first interest rate cuts may not come until the 2nd half of the year or later. If that comes to pass, the odds are high that the forecast for this year's S&P 500 earnings growth is wrong.
The S&P 500 is moving higher because the economy is still solid. There are signs of spotty weakness, but the sum is growth. Next week's data includes critical readings on the labor market that may change that outlook, but it is unlikely. Until then, investors should expect consumer spending to remain strong, inflation to be hot, and interest rates to be high. Featured: Jeff Bezos Backs "Drug Smuggler" to Fight Alzheimer's (Behind the Markets) 
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Stocks | | | Bank stocks can offer incredible investment opportunities. They include strong dividends, little chance of suffering in certain markets and tend to pay off when interest rates rise. From being nickel-and-dimed on fees to having loans called in and credit lines cut off during the 2008 financial me... Read the Full Story >> |
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Markets | | | Bitcoin stock is a contract issued to an investor by the exchange issuing the bitcoin stock. Owning bitcoin stock is not the same thing as owning Bitcoin. The phrase "no keys, no crypto" reflects the idea that when investors buy cryptocurrencies on one of these exchanges, they don't possess... Read the Full Story >> |
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Markets | | | Wall Street closed its latest winning week with more gains Friday, pushing U.S. stocks to new heights.The S&P 500 rose 40.81 points, or 0.8%, to 5,137.08 a day after setting an all-time high. It's been on a tremendous run and has climbed in 16 of the last 18 weeks because of excitement about coo... Read the Full Story >> |
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Markets | | | Kohl’s Corporation (NYSE: KSS) stock price has been wallowing near long-term lows despite signs of turnaround and an improving outlook for cash flow. This market needs a catalyst to get it moving, and there is one at hand. Results from TJX Companies (NYSE: TJX) suggest strength across the of... Read the Full Story >> |
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Markets | | | A 20% drop in Thursday’s session should tell you everything you need to know about Snowflake Inc.'s (NYSE: SNOW) earnings, at least from the high level. The data giant tech stock had been rallying hard since November, so expectations were clearly building for a blowout report to&nb... Read the Full Story >> |
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Markets | | | The latest rail layoffs this week, combined with an investment fund's ongoing campaign for control of Norfolk Southern, are renewing concerns among unions and regulators about all the cuts hurting safety and service Read the Full Story >> |
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Markets | | | Chinese Vice President Han Zheng pledged Friday to provide more opportunities for foreign companies in China as the government tries to restore confidence in the world's second largest economy.Han told an audience of American business people in Beijing that the government would continue to open up m... Read the Full Story >> |
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Markets | | | Having traded mostly sideways since January, Block, Inc. (NYSE: SQ) shares are again on the move. They'd performed strongly all through the final two months of last year when, like with almost all equities, they took off on the back of cooling inflation data and hopes of an imminent rate cut.... Read the Full Story >> |
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Markets | | | Brazil's economy grew 2.9% in 2023, beating expectations in the first year of the administration of President Luiz Inácio Lula da Silva, according to the government statistics institute Friday.The number announced by IBGE impressed many economists, whose overall forecaste early last year was for onl... Read the Full Story >> |
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Markets | | | A New York bank is under severe pressure Friday close to one year after absorbing a large chunk of another bank 30 miles (50 kilometers) away that had failed. Shares of New York Community Bancorp plunged after longtime CEO Thomas Cangemi, who has spent much of this year reassuring investors about th... Read the Full Story >> |
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