Profit With the Pros: Sept. 24, 2024 Join us every Tuesday for Profit With the Pros, as we share some of our favorite stock market reports, articles, research, and trends. We'll curate a fresh batch of free, top-tier content from our exceptional team of traders, analysts, and editors, constructed to help you keep your portfolio at the top of its game. Keep These Crypto Names in Mind Ahead of the 2024 ElectionAfter the Federal Reserve's first interest rate cut in four years, Bitcoin (BTC) bounced above $63,000 for the first time since Aug. 27. BTC exchange-traded fund (ETF) iShares Bitcoin Trust followed suit, rising alongside several crypto-adjacent equities. This is a sector a lot of investors are going to want to keep tabs on, especially with the 2024 U.S. Presidential Election approaching, as the outcome could have major implications for the cryptosphere. Interest Rate Cut Sets Stocks on Track for Stellar WeekOur 5-Minute Market Rundown unpacks recent stock market movement over the last five trading days, highlights individual stocks that made noise, and identifies macro themes from the week. Last week's 50 basis-point interest-rate cut by the U.S. Federal Reserve marked the first rate cut in four years. Though stocks were initially shaky after the event, it ended up sparking a prolonged market rally, with the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) notching a series of record highs. Plus, we highlighted other notable stock stories of the week that might have been missed amid the rate-cut buzz. Nvidia Partnership Puts 3 China-Based Stocks In FocusAlibaba (BABA) just announced a new autonomous driving partnership with semiconductor giant Nvidia (NVDA), which will advance solutions for Chinese automakers using artificial intelligence (AI). The collaboration brought China-based stocks back into focus, with Baidu (BIDU) and JD.Com (JD) enjoying tailwinds as well. Below, let's take a closer look at how these names are performing. Free Report: Monday Morning OutlookSenior V.P. of Research Todd Salamone's Monday Morning Outlook is the perfect road map for traders that want to hit the ground running at the start of each trading week. In his latest piece, Todd analyzes an emerging technical pattern that should excite bulls, especially as S&P 500 short interest and put options appear ready to unwind. Fed Rate Cut Brings Big QuestionsLast week the U.S. Federal Reserve brought a wrinkle into the broader market performance, after serving up a rate cut of 50 basis points -- the first cut in four years. Now, with the help of Schaeffer's Senior Quantitative Analyst Rocky White, we're taking a look at the long-term implications of Fed rate cuts on the S&P 500 Index (SPX), as well as the potential impact an easing cycle would bring to Wall Street. Don't miss out on this free report of in-depth, historic stock market data! |
Tuesday, September 24, 2024
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