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Wall Street Looks To Extend Gains As Traders Eye More Jobs Data: Why This Analyst Sees 4% S&P 500 Rise In June
2024 Jun 05, 7:24am | 1197U.S. stocks are gearing up for a cautiously optimistic start on Wednesday after a late-session recovery led to a positive close in the previous session. Labor market data and service sector activity reading could set the tempo for the day’s trading direction. A soft private payroll number...
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5 Top-Ranked Sector ETFs to Buy in June
2024 Jun 04, 3:43pm | 1213Wall Street has been on a remarkable rally so far this year, with all three major indices near record highs. Solid corporate earnings, Fed rate cut bets and booming AI have been driving the rally. Earnings grew 6% in the first quarter of 2024, the highest growth rate seen in nearly two years. The...
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Doom And Gloom In Office Space Real Estate? Delinquency Data Tells Another Story
2024 Jun 04, 3:24pm | 397“Office real estate is doomed,” so goes the most common narrative on Wall Street. Delinquency data could be telling another story; does it indicate that the market is wrong about commercial real estate? The Data: The Board of Governors of the U.S. Federal Reserve System reported data...
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Stocks Dip Even With Traders Hopeful For September Rate Cut; Bonds Extend Rally, Oil Plummets: What's Driving Markets Tuesday?
2024 Jun 04, 1:00pm | 1033Growth concerns dragged stocks lower on Tuesday, with all major indices trading in the red as investors took a cautious tone on riskier assets. The S&P 500 faced selling pressure when attempting to break above 5,300 levels. It traded down 0.4% by midday in New York. Major large-cap indices...
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Wall Street Eyes Positive June Start, GameStop Skyrockets On Renewed Meme Rally: Optimistic Analyst Sees Stocks Defying Historical 'June Swoon' (CORRECTED)
2024 Jun 04, 12:25pm | 1133Editor’s note: This story has been updated to correct an error in the date. Wall Street is eyeing a strong start to the week, with mega-cap tech stocks and the resumption of the meme rally likely providing the thrust the market needs to break out of the lackluster phase seen in late May. The...
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Bond Market Rallies As Recession Worries Mount, Rate Cut Bets Gain Steam Ahead Of Jobs Data
2024 Jun 04, 12:19pm | 728Long-dated U.S. Treasuries are rallying, breaking above a key downtrend that began in late 2023, fueled by recent soft economic data, which has led investors to reprice higher expectations on the Federal Reserve cutting interest rates in September. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT...
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Nasdaq, S&P 500 Futures Drop As Tech Weakens, Meme Stock Rally Sputters: Analyst Sees Rate Cuts Hinging On Key Fed Data
2024 Jun 04, 7:27am | 1256Stocks are priming for a negative start on Tuesday after the major indices meandered to a mixed close in the previous session. Tech stocks were sliding premarket as reports suggested China is seriously contemplating cutting reliance completely on the United States in chipmaking, while meme stocks...
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Ex-Treasury Secretary Larry Summers Warns Trump's Re-Election May Push Mortgage Rates Beyond 10%: 'Never Been A Presidential Platform So Self-Evidently Inflationary'
2024 Jun 03, 5:48am | 932Former Treasury Secretary Larry Summers, who is on the “inflation truthers” camp, said on Sunday there is a real risk of inflation spiking if Donald Trump wins a second term. Trump Bad For The Economy? Trump’s re-election could mean the U.S. could see another bout of inflationary...
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Tech Stocks Crumble As Wall Street's 5-Week Rally Ends; Bonds Offer Safe Haven As Growth Worries Reemerge: What's Driving Markets Friday?
2024 May 31, 1:44pm | 932Bears knocked on Wall Street’s door again Friday, sending large-cap tech stocks lower despite the Fed’s favorite inflation measure meeting expectations. Both the S&P 500 and the Nasdaq 100 index are set to end a 5-week winning streak as investors grow more cautious about the latest...
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Bank Of America Strategist Shifts To Bonds: Stock Sell-Off Prophecy On Benign Inflation Comes True
2024 May 31, 12:41pm | 640Bank of America Chief Investment Strategist Michael Hartnett has turned bullish on bonds for the second half of the year, while raising heightened risks of a stock market sell-off as investors bet on the first Fed interest rate cut. Hartnett, known for his bold contrarian market views, reiterated...
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Are Rate Cuts Imminent After Fed's Preferred Inflation Data Holds Steady? 'Be-Careful-What-You-Wish-For Moment' (CORRECTED)
2024 May 31, 12:15pm | 979Editor’s note: This story has been updated to correct the spelling of economist Joseph Brusuelas’ name. The Personal Consumption Expenditure (PCE) price index, a preferred inflation gauge for the Federal Reserve, revealed a steady trend in April, aligning with economist expectations...
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Relief Rally On Fed's Favorite Inflation Data, AI Earnings Expectations Overdone
2024 May 31, 10:33am | 1512To gain an edge, this is what you need to know today. Relief Rally Please click here for an enlarged chart of SPDR S&P 500 ETF Trust (ARCA:SPY) which represents the benchmark stock market index S&P 500 (SPX). Note the following: The chart shows that the stock market has fallen into the...
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Fed's Preferred Inflation Gauge Matches Estimates; Personal Spending Slows More Than Predicted (CORRECTED)
2024 May 31, 8:48am | 594Editor’s note: This story has been updated to reflect that personal income growth matched economist expectations in April. The Federal Reserve’s preferred inflation measure held steady in April, aligning with economist expectations, yet keeping investors anxious about potential rate...
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Wall Street Gears Up For Strong May Finish Even As Futures Slip On Inflation Data Jitters: Analyst Predicts June Slowdown Before H2 Surge
2024 May 31, 7:26am | 1242Stocks look set to end May on a positive note, even as index futures pointed to a negative opening on Friday. But sentiment could reverse if important inflation data due ahead of the market open appeases Wall Street. The inflation data assumes importance as it could have a bearing on the June 11-12...
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Regional Banks Yet To Recover From SVB Collapse: Time To Invest In The Top Banking ETF?
2024 May 30, 4:53pm | 813Regional bank stocks, as monitored through the SPDR S&P Regional Banking ETF (NYSE:KRE), continue to trade about 13% lower than they were prior to the collapse of Silicon Valley Bank in March 2023, indicating that investor sentiment has yet to fully regain trust in the industry following last...