Good MorningEquity markets sold off on Tuesday, extending the weakness seen on Monday. The 2nd quarter is starting on shaky footing due to receding expectations for FOMC rate cuts this summer, and more bad news came out during the session. Oil prices rose 1% to set another fresh high to underpin inflation, while the Fed's Mester ruled out a cut in May. She still thinks a cut will come this year but is uncertain of the timing and needs more data. The news that caught the market's attention was her long-term outlook for long-term rates, which was increased. In her view, the target rate is likely near 3.0% a full 100% basis points above the market's expectations.
The yield on the ten-year treasury advanced to a new six-week high on the news, and the S&P 500 fell. The broad market fell more than 1.0% at the session's low, marking the largest one-day decline in weeks. The VIX spiked in tandem, signaling a more significant correction could come. If the market can not regain footing by the end of the week, a move to firmer support levels is likely. The next catalyst is the labor market data which begins coming out today. Featured: We just added a $250 account credit to your MarketBeat subscription (MarketBeat Internal) 
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Stocks | | | Less than a week after a flashy stock market debut, Donald Trump's social media company on Monday disclosed that it lost nearly $58.2 million last year, sending its stock tumbling more than 21%.Losses in 2023 for Trump Media & Technology Group — whose flagship product is Truth Social — mark a st... Read the Full Story >> |
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Stocks | | | The popular iShares Biotechnology ETF (NASDAQ: IBB) has formed a bullish consolidation in the upper portion of its 52-week range, hinting at a significant sector-wide breakout. The bullish formation comes at a time when technology, and specifically semiconductor stocks, have continued to ou... Read the Full Story >> |
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Stocks | | | GLP-1 (Semaglutide) drugs like Ozempic and Wegovy produced by Novo Nordisk A/S (NYSE: NVO) and Mounjaro and Zepbound (Tirzepatide) produced by Eli Lilly and Co. (NYSE: LLY) have taken the mainstream by storm. These drugs have transformed the medical sector. The Oprah Winfrey special, "Shame, Blame... Read the Full Story >> |
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Markets | | | Snowflake Inc. (NYSE: SNOW) is a cloud-native data warehouser in the computer and technology sector, offering companies cloud-based data platform-as-a-service (PaaS) solutions. Snowflake's shares collapsed over 20% on its fiscal Q4 2024 earnings release. Despite beating consensus estimates, it del... Read the Full Story >> |
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Markets | | | Global stocks were mixed on Tuesday after Wall Street retreated as surprisingly strong U.S. manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates. European markets opened mostly higher, but Germany's DAX then slipped, losing 0.1% to 18,525.79. In Paris, the CAC 40... Read the Full Story >> |
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Markets | | | The 17% drop from February’s peak, through the middle of last week might well have been a fair warning to investors of Braze, Inc (NASDAQ: BRZE), ahead of the company’s earnings last Wednesday. The customer engagement platform had been rallying all the way from the end o... Read the Full Story >> |
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Markets | | | Mortgage REITs (mREITs) can be a valuable tool for investors seeking income and exposure to the real estate sector. However, their reliance on interest rates introduces a layer of complexity, particularly when the Federal Reserve is considering raising rates. Rising rates could send shockwaves thr... Read the Full Story >> |
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Markets | | | General Electric has completed its split of the one-time conglomerate into three separate companies, as its aerospace and energy businesses started trading on the New York Stock Exchange as separate entities on Tuesday Read the Full Story >> |
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Markets | | | The inflation that has squeezed European shoppers fell more than expected in March to 2.4%, as cost spikes in the grocery aisle eased and overall price rises headed down in the two biggest economies, Germany and France. The annual figure for the 20 countries that use the euro currency came in below ... Read the Full Story >> |
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Markets | | | Global shares mostly declined Wednesday after Wall Street broke its record-breaking bull run with its worst day in weeks.France's CAC 40 edged up 0.1% in early trading to 8,139.15, while Germany's DAX rose 0.3% to 18,331.04. Britain's FTSE 100 dropped 0.6% to 7,887.60. U.S. shares were set to drift ... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day BRP Inc., together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational air... | | View Today's Stock Pick |
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