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Fed's Favorite Inflation Data Due Friday: How Could Markets React To Surprises?
2024 May 30, 3:09pm | 671The Personal Consumption Expenditure (PCE) price index report, commonly referred to as the Fed’s favorite inflation gauge, is set to be released on Friday and represents the critical data point of the week. This report is highly scrutinized by Fed policymakers to determine the direction of...
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Tech, Blue Chip Stocks Drop; Small Caps, Real Estate Rebound As Yields Ease; Solar Industry Shines: What's Driving Markets Thursday?
2024 May 30, 1:57pm | 1224Wall Street experienced another decline on Thursday, with major large-cap indices affected by a downturn in the tech and communication services sectors. Investors shifted their focus to market areas that have underperformed compared to tech over the past year, such as small caps, real estate and...
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Is Q1 GDP Data Easing Pressure On Fed To Cut Interest Rates? 5 Economists Weigh In
2024 May 30, 11:25am | 840The U.S. economy grew at an annualized rate of 1.3% in the first quarter of 2024, marking a downward revision from the advance estimate of 1.6%. This represents the slowest growth rate since the second quarter of 2022. The revision was primarily driven by a decrease in real consumer spending,...
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Wall Street On Backfoot As Traders Sweat Over Key Inflation Data: Economist Warns Stock Rally May Stumble If Bond Yield Crosses This Level
2024 May 30, 7:47am | 1702U.S. stocks are likely to remain weak on Thursday, major index futures indicated, as lower bond yields stayed elevated and mixed earnings dampened sentiment. On traders’ radar are key inflation data from the Federal Reserve, as well as jobs data and a revised quarterly GDP report besides a...
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Former Goldman Sachs Exec Beth Hammack Becomes Next Cleveland Fed President
2024 May 29, 2:38pm | 416Beth M. Hammack will assume the role of president and chief executive officer of the Federal Reserve Bank of Cleveland. With over thirty years of experience in finance and risk management, Hammack will represent the Fourth Federal Reserve District on the Federal Open Market Committee and oversee...
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Volatility Spooks Investors As Treasury Yields, Dollar Climb Ahead Of Key Economic Releases: What's Driving Markets Wednesday?
2024 May 29, 1:32pm | 1004Volatility surged back into the market on Wednesday, with the CBOE Volatility Index (VIX) spiking 9% after hitting nearly three-year lows last week, fueled by fresh upticks in Treasury bond yields. The yield on the 30-year Treasury note, a crucial benchmark for mortgage rates nationwide, soared to...
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Wall Street Set To Open Weaker As Bond Yields Rise, Meme Rally Cools: Analyst Says Stick With What's Working Amid Volatility
2024 May 29, 7:35am | 1250U.S. stocks are poised to open lower on Wednesday following the boost from the tech rally in the previous session. The spotlight will likely be on bond yields, which have climbed in recent sessions on hopes of a “higher-for-longer” monetary policy stance. Traders may also draw clues...
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4 Solid Stocks to Gain From Nasdaq's New Milestone
2024 May 28, 3:53pm | 775The Nasdaq rally is in full swing after a brief pause in April as concerns over inflation and uncertainty over rate cuts grew. However, Nasdaq has been the least impacted by these and has continued its dream run after a solid 2023. On May 24, the tech-heavy Nasdaq closed at an all-time high of 16,...
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3 Top Dividend Aristocrats to Ride Out Summertime Blues
2024 May 28, 12:52pm | 712Incisive investors should look out for breakout stocks to get unmatched returns. However, stocks mostly trade within a narrow range during the summer months. Profit-taking does take place in the weaker period from May through October, particularly after an incomparable November to April. The...
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Magnificent 7 Becomes 'The Magnificent One': Wall Street Guru Hails Single Tech Stock As Market Leader
2024 May 28, 8:52am | 655Seasoned Wall Street investor Ed Yardeni, founder and CEO of Yardeni Research, has boldly rebranded the Magnificent Seven giants as the “Magnificent One,” referring only to Nvidia Corp. (NASDAQ:NVDA) as the key driver of this year’s market gains. Yardeni noted that the...
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Wall Street Eyes Mixed Start After Memorial Day Break: Tech And Meme Stocks Gain; Analyst Says Sustained Selloff 'Unlikely'
2024 May 28, 7:27am | 1148Index futures point to a slightly higher opening for the market on Tuesday after the long Memorial Day weekend. This week marks a significant change, as the settlement cycle transitions from T+2 to T+1. The Securities and Exchange Commission expects this shift to reduce risks...
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Paul Krugman Schools Americans 'Righteously Angry' About Soaring Costs: Biden's Price Levels Mirror Reagan's Inflation Triumph
2024 May 28, 2:49am | 639President Joe Biden’s poll prospects have been stymied by public perception of elevated inflation and a sluggish economy despite the numbers telling an altogether different story. Nobel laureate and economist Paul Krugman on Monday weighed in on this conundrum. What Happened: Krugman shared...
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Undocumented Immigration Good For Economy? Black Swan Author Nassim Taleb Warns Any Sudden Curb Would Lead To 'Explosive Inflation'
2024 May 26, 1:36pm | 607Inflation has persisted as a significant issue, now emerging as a key factor in the upcoming election. Curbing the influx of migrants into the country may have an unintended negative consequence, Black Swan author Nassim Taleb said on Saturday. What Happened: The U.S. is “so structurally...
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Nvidia, Tech Stocks Propel Nasdaq 100 To Record High; Solar Sector Shines, Meme Stock Bubble Bursts: This Week In The Market
2024 May 24, 4:29pm | 690Tech stocks in the Nasdaq 100, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ), soared to record highs during the week, marking their fifth consecutive week of gains — the longest streak since January — driven by Nvidia Corp.‘s (NASDAQ:NVDA) exceptional earnings report. Shares of the...
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4 Solid Crypto Stocks to Bet on Ahead of Next Bitcoin Rally
2024 May 24, 3:43pm | 890The cryptocurrency rally came to a sudden halt in April after a robust 2023 and first quarter. The first quarter saw Bitcoin (CRYPTO: BTC), the world's most popular cryptocurrency, hitting an all-time high of $73,750. However, Bitcoin has since retreated sharply, with its price hovering around...