Good MorningThe equity market continued to grind higher on Thursday. The S&P 500 advanced half a percent and is now a striking distance of an all-time high. The all-time is about 60 S&P points above Thursday's close, about 1%, and could be reached in a single session. The question is, if it will, what will happen then? Will the market continue to set new highs over the summer, or will sell-in-May-and-go-away grip the market?
Friday's action may take the market to a new high because of a wait-and-see attitude regarding selling. The next big hurdles for the market will come next week when retailers like Home Depot and Walmart release earnings; and on Wednesday with the release of the CPI index. The CPI is not expected to show a significant slowdown in inflation and will keep the FOMC from altering course. This means the first rate cut will come in late summer, if at all.
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Stocks | | | The biotech sector and its popular ETF, the iShares Biotechnology ETF (NASDAQ: IBB), have lagged the overall market during the year, with its shares slightly red. However, in recent weeks, the sector has enjoyed a significant rally after bouncing off its uptrend support and now consolidating near ... Read the Full Story >> |
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Markets | | | Earnings reports often catalyze big moves in a stock’s price; the bigger the move, the more conviction the market shows. Catalysts for these moves include better-than-expected results, gained traction, and improved guidance pointing to additional upside. The stocks on this list surged more t... Read the Full Story >> |
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Markets | | | Robinhood Markets, Inc. (NASDAQ: HOOD) is a pioneer in commission-free online trading, and the company has carved a distinct niche within the online brokerage industry. Robinhood Markets provides user-friendly and accessible investment platforms tailored to younger investors. With its intuitive mo... Read the Full Story >> |
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Markets | | | The Bank of England is keeping its main U.K. interest rate at a 16-year high of 5.25% though it gave a broad hint that a reduction could be on the cards as soon as June as inflation is forecast to fall below target Read the Full Story >> |
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Markets | | | Symbotic’s (NASDAQ: SYM) Q2 results were not a blowout, but they don’t have to be with hyper-growth figures, triple-digit increases in recurring revenue, and improved guidance. The takeaway from the report is that the business is gaining momentum in its two key segments and has a stron... Read the Full Story >> |
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Markets | | | Global shares traded higher Friday after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. In London, the FTSE 100 rose 0.8% to 8,448.34 as the government reported that the British economy bounced back strongly in the first three months of the year, bringing to an end ... Read the Full Story >> |
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Markets | | | Plug Power Inc. (NASDAQ: PLUG) is a prominent green energy hydrogen ecosystem player. Plug Power’s earnings report for the first quarter of 2024 was released, offering valuable insights into the company's performance and strategic direction. Plug Power’s financial report revealed mixed... Read the Full Story >> |
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Stocks | | | Stocks in Asia were mixed Friday after a rally on Wall Street that pulled the S&P 500 back within 1% of its record. Benchmarks fell in Tokyo, Sydney and Seoul but rose in China, where investors were focused on the release of April inflation figures.In Japan, the Finance Ministry reported a recor... Read the Full Story >> |
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Markets | | | The British economy bounced back strongly in the first three months of the year, bringing to an end to what economists termed a "technical recession", official figures showed Friday.The Office for National Statistics said the economy grew by 0.6% in the first quarter from the previous three-month pe... Read the Full Story >> |
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Markets | | | China is actively seeking foreign investment to boost its slowing growth, but that very sluggishness is weighing on company plans to expand their businesses in the world's second largest economy, an annual survey of more than 500 European companies found.The slowing economy is now the dominant conce... Read the Full Story >> |
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Friday's Early Bird Stock Of The Day MSCI Inc., together with its subsidiaries, provides critical decision support tools and solutions for the investment community to manage investment processes worldwide. The Index segment provides indexes for use in various areas of the investment process, including indexed financial product, such as ETFs, mutual funds, annuities, futures, options, structured products, and over-the-counter derivatives; performance benchmarking; portfolio construction and rebalancing; and asset allocation, as well... | | View Today's Stock Pick |
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