Good MorningNVIDIA reported another blowout quarter, sending its shares up by 10%, but the news did not support the broad market. The S&P 500 turned lower mid-day to retreat nearly 1.0% on renewed fear of inflation. Wednesday's read of the FOMC minutes revealed the Fed is unwilling to cut interest rates too soon as worries of persistent inflation linger. The risk is that Fed officials seem ready to increase rates should inflation continue to run hot—a move that could send the market into a tailspin.
The S&P is poised to fall and may enter a correction anytime. Thursday's move created a Bearish Engulfing Pattern that set a new high at the open, then moved lower to offset the previous six days of trading. There is now only a 50/50 chance for a single hike by September, and chances for two are slim before 2025, barring the US economy slipping into recession. Under these conditions, the market could easily move down to retest the recent lows near 4,990 before mid-June when the FOMC next meets and new lows are possible. Featured: Memorial Day Sale! Get 90% OFF Behind the Markets! (Behind the Markets) 
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Markets | | | Looking to invest in the tech sector? Then you’ll likely be looking at NASDAQ stocks, but the NASDAQ is a huge exchange, and investors need ways to break down the components for analysis. That’s why the NASDAQ 100 and NASDAQ Composite exist, so investors can have different ways to gain... Read the Full Story >> |
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Markets | | | Shares of Coinbase Global (NASDAQ: COIN) and Robinhood Markets (NASDAQ: HOOD) are capturing significant attention. Both stocks display promising technical patterns indicative of potential breakouts. Let's delve into the current setup for these two retail favorites and explore why they might... Read the Full Story >> |
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Stocks | | | U.S. stocks rose Friday in a bounce back from Wall Street's worst day since April.The S&P 500 gained 36.88 points, or 0.7%, to 5,304.72 and won back all its losses from the prior two days. It eked out a tiny gain for the week, enough to extend its weekly winning streak to five, and is sitting ju... Read the Full Story >> |
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From Our PartnersFor over five decades, I've been immersed in the markets, confident I had uncovered all there was to see. But recently, while collaborating on some strategies with my son, we stumbled upon something unexpected. During one of our sessions, my son highlighted an unusual X pattern on our charts. | | Learn More About This Pattern |
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Markets | | | Snowflake (NYSE: SNOW) shares have been floundering for the last two years, but those days are ending. The Q1 F25 results were solid, pointing to persistent growth, and the hint of increased collaboration with NVIDIA (NASDAQ: NVDA) has juiced the market. NVIDIA, the undisputed leader in AI, is alr... Read the Full Story >> |
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Stocks | | | Nvidia's stock price has more than doubled this year as of the close of trading Thursday, increasing the company's market value by more than $1.3 trillion. Those numbers are headed higher again Thursday after the company reported better-than-expected quarterly results. The chipmaker has seen soaring... Read the Full Story >> |
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Markets | | | Shares of Micron Technology (NASDAQ: MU) have been enjoying a remarkable rally, with its stock effectively doubling over the past 12 months alone. Since the start of 2023, its shares have jumped 150%. For the most part, this eye-watering rally has been driven by the company's strate... Read the Full Story >> |
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Markets | | | A battle is under way for the future of Ohio's $94 billion teacher pension fund, as would-be reformers' attempts to deliver long-promised benefits to retirees with the help of an aggressive investment firm touting an untested AI-driven trading strategy face intense scrutiny. The eyes of Wall Street ... Read the Full Story >> |
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Markets | | | Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate getting more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine's state finances looks shakier.At the top of the agenda as finance officials fr... Read the Full Story >> |
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Markets | | | The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties Read the Full Story >> |
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Markets | | | TD Bank Group (NYSE: TD) (TSE: TD) is a prominent player in the Canadian and North American financial services sector. TD Bank’s earnings report for the second quarter of 2024 was recently unveiled, revealing TD Bank’s financial performance during the quarter. This earnings report hold... Read the Full Story >> |
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