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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...
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When Will The Fed Cut Interest Rates? We're In 'The Middle-Of-The-Road Path Of Cutting Gradually': Goldman Sachs
2024 May 24, 9:25am | 621Goldman Sachs adjusted its forecast for the Federal Reserve's first rate cut, pushing it back from July to September. The revision comes as recent data and comments from Fed officials indicate that a July cut would require significant improvements in inflation and noticeable signs of weakening in...
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Cathie Wood's Comparison Of Current Stock Market And 1930s Great Depression Draws Criticism From Jim Chanos: 'Complete Financial Insanity'
2024 May 24, 9:05am | 983Ark Invest founder and fund manager Cathie Wood drew flak after she made a bleak assessment of current market conditions in a post on X, formerly Twitter. Risk Aversion In Play: “Search for cash and safety in the equity markets today is as intense as that during the Great Depression in the...
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Wall Street On Track To Rebound As Traders Train Eyes On Key Data Ahead Of Long Weekend: Analyst Says Brace For More Gains In Second-Half
2024 May 24, 7:15am | 1330Wall Street is eyeing a return to winning ways on Friday after the lackluster sentiment seen in the past two sessions. The index futures held modestly higher in early trading. The spotlight is likely to be on a Fed speech scheduled for the day and the inflation expectations readings of the...
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JPMorgan to Pay $100M Penalty for Trade Reporting Lapses
2024 May 23, 3:48pm | 708JPMorgan (NYSE: JPM) is expected to pay $100 million to the U.S. Commodity Futures Trading Commission ("CFTC") to settle claims related to trade reporting lapses. The news was reported by Reuters, citing a source with direct knowledge of the matter. Per the source, the Wall Street giant...
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VIX Spikes, Dow Sinks As Inflation Jitters Slaughter Fed Easing Hopes: Traders Now Price In Only One Rate Cut In 2024
2024 May 23, 3:26pm | 745Markets experienced a sharp downturn Thursday afternoon following an initial surge to historic highs in technology-heavy stock indices, driven by Nvidia Corp.‘s (NASDAQ:NVDA) spectacular AI-driven earnings report. The CBOE Volatility Index (VIX), also known as the market fear index, surged...
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3 Crypto Stocks to Watch Closely for Bitcoin's Bullish Run
2024 May 23, 1:01pm | 684The price of Bitcoin (CRYPTO: BTC) gained momentum in 2021 due to institutional adoption but took a beating in 2022 amid regulatory and environmental issues. However, Bitcoin had a prodigious 2023, with the price of the flagship cryptocurrency surging 157%. The bullish momentum continued in 2024,...
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Inflation Stresses Retail Traders As Fed Cuts Look Unlikely, Crypto Doubts Increase: Survey
2024 May 23, 12:59pm | 558Overall optimism toward the U.S. stock market among retail traders has softened in the second quarter (Q2) of 2024. Some 46% of retail traders expressed a bullish outlook — a decrease from 53% in Q1, according to the latest Trader Sentiment Survey from Charles Schwab. Inflation is their top...
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US Business Activity Resurges In May, Largest Rise In 2 Years, But Return To 'Fed's 2% Target Still Seems Elusive'
2024 May 23, 11:26am | 871The U.S. economy has surged back into full throttle after two months of slower growth, with flash PMI data for May indicating the fastest expansion in over two years. However, this growth is accompanied by a rebound in input costs, raising concerns about the feasibility of returning to the Fed...
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Gold Falls From Highs
2024 May 23, 9:33am | 546By RoboForex Analytical Department The price of gold fell to $2370.00 per troy ounce by Thursday following the release of the minutes from the latest US Federal Reserve meeting. The general tone of the Fed's policymakers was notably cautious, aligning with previous calls for a restrained...
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Wall Street Braces For Strong Open On Nvidia Cheer, But Traders Wary Of Key Data: Why This Analyst Sees More Market Bullishness Near-Term
2024 May 23, 7:07am | 1586Major U.S. index futures jumped early Thursday as Nvidia Corp.’s (NASDAQ:NVDA) earnings provided a shot in the arm for the market. A couple of market-moving economic data on the job market and the manufacturing sector and a Federal Reserve official’s speech could also affect the day...
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Most Americans Think Economy Is In Recession Under Biden Despite Hard Data Telling Different Story: 'We're Not Feeling It Where I Live'
2024 May 23, 1:19am | 1048While most opinion polls link President Joe Biden’s poor job approval rating to the economy’s performance, a new survey has shown that it has to do mostly with voter perception rather than reality. Pessimism In The Air: A majority of Americans believe that the U.S. economy is in a...
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Nvidia Vs Federal Reserve: Who's Steering The Market?
2024 May 23, 12:59am | 694In a recent discussion on CNBC’s Last Call, anchor Brian Sullivan posed an intriguing question to Michael Farr of Farr, Miller & Washington: “What do you think is more important to the macro-market: NVIDIA (NASDAQ:NVDA) or the Federal Reserve?” What Happened: The question,...
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Biden Administration Backs Independent Federal Reserve Amid Trump's Alleged Plans To Control US Monetary Policy: 'Highly Motivated' By History
2024 May 22, 11:22pm | 544The Biden administration has reaffirmed its support for an autonomous Federal Reserve amid reports of former President Donald Trump‘s intentions to influence U.S. monetary policy. What Happened: The White House Council for Economic Advisors underlined the importance of central bank...