Good MorningThe S&P 500 tried to rebound on Wednesday but had trouble holding the gains. Hot labor data from ADP played into the idea the FOMC will not cut rates this summer and left the market wallowing near the previous day's low. If the market can not regain traction soon, a deeper correction is expected, and there is a risk of lower price action this week. The Non-Farm Payroll report is due on Friday and will likely confirm the ADP data. The two rarely align, but the trend is the same, and the trend in labor markets is solid. Because one of the two Fed mandates is satisfied and driving problems with the other, the FOMC will unlikely cut rates in the foreseeable future.
The S&P is signaling a peak; the question is if the downturn will be quick and shallow or long and deep, and the jury is still out. The FOMC is on track to cut rates, but it is unclear when. If there is no sign of recession, the market will likely recover from this downturn quickly and rally to new highs. If, however, signs of economic weakness emerge, a deep correction could follow.
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Stocks | | | Stock market bulls are back in control as major US indices have soared to new all-time highs to start 2024. Despite apprehension over inflation and high rates, bullish market trends have overtaken these concerns, in no small part thanks to exuberance over artificial intelligence innovation. But wh... Read the Full Story >> |
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Markets | | | The momentum trade has been exhausted by the large-capitalization stocks in the market, especially those in the technology sector, as names like Nvidia Co. (NASDAQ: NVDA) keep making new all-time highs. For this reason, quants at PGIM believe that Wall Street may soon rotate into small-capitalizat... Read the Full Story >> |
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Stocks | | | Gold has reached new all-time highs, defying expectations amidst a robust U.S. economy and soaring stock markets. Its rally seems unstoppable, with gold trading at around $2,300 per ounce, marking an 11% increase year-to-date and a staggering 16% gain over the past 12 months. Several factor... Read the Full Story >> |
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Markets | | | Akebia Therapeutics Inc. (NASDAQ: AKBA) is a biopharmaceutical company specializing in developing treatments for chronic kidney diseases (CKD) and anemia management for patients with CKD. The medical sector company addresses unmet needs in the segment. It received FDA approval for its lead candida... Read the Full Story >> |
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Markets | | | Dave & Buster’s (NASDAQ: PLAY) investors can cheer the CQ1 results because it affirms a story played out over the years. The company leaned hard into growth, revenue quality, profitability, and capital returns yet failed to increase its share price. Now, the company is in rally mode, aid... 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 | | | 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 rose Thursday amid expectations for more U.S. interest rate cuts this year.France's CAC 40 added 0.4% in early trading to 8,184.47, while Germany's DAX edged up 0.3% to 18,413.33. Britain's FTSE 100 rose 0.4% to 7,967.83. U.S. shares were set to drift higher with Dow futures up ... Read the Full Story >> |
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Markets | | | Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February Read the Full Story >> |
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