Good MorningEquity markets continue to hover near record highs as the number of days to sell in May dwindles. The S&P 500 fell slightly more than a half percent on Wednesday but remained within the near-term trading range. This range will likely persist until Friday when the PCE index is released, and all bets are off. At that time, the market will know whether inflation is cooling fast enough for the Fed and better understand when the first interest rate cut will come. As it is, the market is holding out hope for a cut this year, and it may be misplaced.
Assuming the PCE index aligns with the Fed cutting rates this year, the S&P 500 could rocket. In that scenario, the broad market index could gain 200 points by late summer and extend the rally to new highs. If not, this market is set up to fall hard. An inflation-induced correction could shave 5% of the market fast and produce a 20% decline by the time it is over. In this scenario, the S&P 500 will return to its trading range and could remain within it for years. Featured: Ether ETF Approval Could Spark an Altcoin MOONSHOT (Crypto 101 Media) 
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Markets | | | Management at Advance Auto Parts Inc. (NYSE: AAP) is looking to reinvent itself this year, or at least that’s what the first quarter 2024 earnings results suggest. The company aims to compete with the likes of O’Reilly Automotive Inc. (NASDAQ: ORLY) and even AutoZone Inc. (NYSE: AZO). ... Read the Full Story >> |
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Markets | | | Today’s market seems to want nothing to do with stocks not involved with artificial intelligence, so anything outside the technology sector has been dismissed. However, where investors can make market-beating returns is where nobody else is willing to look, which happens to be in the airline... Read the Full Story >> |
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Stocks | | | Shares opened higher in Europe on Thursday after a retreat in Asia as rising bond yields weighed on stock prices. Germany's DAX edged 0.1% higher to 18,486.92 and the CAC 40 in Paris rose 0.3% to 7,956.50. Britain's FTSE gained 0.3% to 8,204.61. The future for the S&P 500 was down 0.4% while tha... Read the Full Story >> |
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Markets | | | Outdoor apparel and footwear manufacturer VF Corp. (NYSE: VFC) had a disastrous fiscal Q4 2024 earnings report. The consumer discretionary sector giant missed top and bottom line estimates and experienced sales drops in all its brands as excess inventory is being worked through. In fact, VF Corp'... Read the Full Story >> |
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Markets | | | Chewy, Inc. (NYSE: CHWY) defied expectations and produced a solid Q1 that suggests momentum, continued strength, and rapidly improving shareholder value in the year's second half. Although growth has slowed, performance is better than expected, compounded by significant margin improvement. The mar... Read the Full Story >> |
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Markets | | | Abercrombie & Fitch Co. (NYSE: ANF) investors have reason to celebrate. Abercrombie & Fitch’s stock price recently surged to an all-time high. An exceptional first-quarter performance fueled this surge as Abercrombie & Fitch’s earnings report exceeded market expectations.&n... Read the Full Story >> |
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Markets | | | The International Monetary Fund has upgraded its forecast for China's economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth. The IMF's report, issued late Tuesday, said the world's second-largest economy will likely expand at a 5% annual rate this ye... Read the Full Story >> |
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Markets | | | The Cleveland branch of the Federal Reserve said Wednesday that Beth Hammack, a former executive at investment bank Goldman Sachs, would be its next president effective Aug. 21. Hammack, 52, worked at Goldman Sachs from 1993 until stepping down earlier this year. She was most recently the cohead of ... Read the Full Story >> |
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Markets | | | Australian mining giant BHP Group has pledged to invest in South Africa's economy as it seeks support for a 38.6 billion pound ($49.3 billion) bid to acquire Anglo American, which was founded in the country more than a century ago and remains one of its biggest employers Read the Full Story >> |
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Markets | | | The owner of Britain's Royal Mail said Wednesday it has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel Křetínský.Under the deal, Křetínský's EP Group would buy International Distribution Services, which owns Royal Mail, for 370 pence ($4.72) per share.Including... Read the Full Story >> |
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Thursday's Early Bird Stock Of The Day EMCORE Corporation, together with its subsidiaries, designs and manufactures fiber optic gyro, ring laser gyro, and micro electromechanical system-based inertial sensors and systems in the United States and internationally. It offers navigation system and inertial sensing products, such as gyroscopes and multi-axis sensors, inertial measurement units, fiber optic gyroscopes, quartz micro electromechanical systems, inertial navigation systems, tactical navigation, and naval and amphibious navigat... | | View Today's Stock Pick |
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