Good MorningThe S&P 500 index retreated from resistance at the 4,300 level on Monday. The move is consistent with expectations and the idea the market would enter a holding pattern ahead of the FOMC meeting. The FOMC meets next week and is expected to keep its interest rate policy unchanged from the 500 to 525 bps target it is set. The committee is also expected to maintain a hawkish posture and may indicate the need for additional rate hikes should the data indicate. Lucky for them and the market, the May read of the CPI index is due the day before the policy announcement. If the index confirms the upswing in inflation indicated by the last PCE price index, it may surprise the market with a hike.
The question for traders is what 4,300 mean to the S&P 500 index. It is a critical point of resistance that might not be crossed. In that situation, it will market the top of a trading range that could dominate the market for years. However, if the S&P 500 can move above it, a trading range is still the most likely scenario; only this time, 4,300 will mark the middle. Either way, the S&P 500 is in a rolling bear market that will impact price action for several years. Featured: He Predicted the iPhone Years Before It Existed (Ad) 
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Consumer Discretionary | |
Forza X1 (NASDAQ: FRZA), a little-known small-cap stock listed on the NASDAQ, saw its share price surge over 100% in the early hours of trading on Monday morning. This impressive move comes after the company tweeted a brief teasing message on Friday after the close, suggesting they will make an im... Read the Full Story |
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Technology | |
MongoDB (NASDAQ: MDB) was on virtually no one's radar as an AI play, yet it is. The company’s cloud-based database services and developer data tools make it perfectly positioned to benefit from the AI boom. That is seen clearly in the Q1 results and guidance, which was raised well above the ... Read the Full Story |
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Consumer Discretionary | |
SunCar Technology Group Inc (NASDAQ:SDA) has been on a wild ride — and it's only just begun.
On May 17th, the Shanghai-based auto services startup completed its business combination with special purpose acquisition company (SPAC) Goldenbridge Acquisition Limited. The next day, SunCar began ... Read the Full Story |
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From Our Partners | | Nearly 2 in 3 Americans fear running out of money more than death - and chasing a $1.5 million nest egg isn't helping.
Tim Plaehn has spent decades helping people build retirement income, and he says the monthly income goal is the only number that matters. His approach could potentially reach that goal with 10x less capital - using a single stock you can buy with one click. | | Watch the short presentation to see how this retirement income strategy works |
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Markets | |
In a surprising move, Saudi Arabia pledged to reduce its oil output by 1 million barrels per day for July at the June 4 OPEC meeting. This adjustment, which may continue monthly, places Saudi oil production at its lowest point in a decade, excluding the pandemic-induced slump.
Moreover, the broad... Read the Full Story |
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Consumer Discretionary | |
As the two largest economies collide in their quest to expand their political and economic powers, the United States and China are on an opposite schedule regarding the wind direction of their economies. While the United States has struggled to lower its inflation rate due to increased demand and ... Read the Full Story |
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From Our Partners | | Most financial advisors recommend the same index funds and a 60/40 split - advice that's easy to sell and easy to bill, regardless of market performance.
When the S&P falls, advisors still collect fees while investors absorb the losses. Institutions have never accepted that one-directional bet. | | Discover the institutional strategy individual investors can now access |
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Technology | |
According to Marketbeat.com’s analyst tracking tools, the most upgraded stocks in May are NVIDIA (NASDAQ: NVDA), Palo Alto Networks (NASDAQ: PANW), and Salesforce.com (NASDAQ: CRM). The single unifying factor with all of these names is AI, which led to market-beating performance and increase... Read the Full Story |
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Communication Services | |
Shares of Verizon (NYSE: VZ) have been shedding value for more than 2 years, and that trend could continue, but there are a growing number of signs that suggest the bottom is in. Among them is the 7% dividend yield which is well above the broad market average, better even than short-term treasurie... Read the Full Story |
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Consumer Discretionary | |
Online travel and booking platform Expedia Group Inc. (NASDAQ: EXPE) is benefiting from the robust travel demand generating record revenues but still needs to catch up in profits and valuation. The travel and leisure industry was the epicenter during the pandemic but is seeing positive normalizati... Read the Full Story |
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Finance | | Cloud-based artificial intelligence (AI) lending platform Upstart Holdings Inc. (NASDAQ: UPST) stock has shot up over 125% in the last month, driven by the AI momentum and 36% short interest. Its metrics were gloomy in its fiscal Q1 2023 earnings report compared to the year-ago period, but sentiment... Read the Full Story |
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Consumer Discretionary | |
The iShares Russell 2000 ETF (NYSE: IWM) has displayed relative weakness and lagged the overall market over the previous year. However, it notably broke that trend last week and finally showed signs of life. The IWM is a float-adjusted, capitalization-weighted index that measures the performance o... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions. The company was incorporated in 2023 and is based in Cambridge, Massachusetts. | | View Today's Stock Pick |
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