Good MorningEquity markets resumed their downward movement on Thursday after a weaker-than-expected GDP reading. The first estimate for Q1 GDP came in at 1.6%, well below the consensus forecast. The weak data renewed fear of slowing growth and a possible recession, cutting more than 1.0% off the Dow Jones Industrial Average and S&P 500 before the open. However, the market began to recover by the end of the session and closed the day off of the low.
Where the market goes next will come down to data released today. The PCE price index is due and expected to be hot. A hot read will keep the FOMC's foot on the economic brake, increasing the odds of a recession. However, the FOMC's policy is sufficiently tight. It can act to stave off recession, given the inflation data cooperates. Because the economy is still growing, the S&P could still move higher.
The risk now is stagflation. The Fed can stave off a recession, but if it is forced to cut rates sooner than necessary to fight inflation to fight recession instead, inflation will accelerate and remain a problem. Featured: The big winner of Crypto week? (Ad) 
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Markets were scared to wake up to the Federal Reserve (the Fed) pulling the rug. After pricing in the proposed interest rate cuts for 2024, which were set to be implemented by March, then May, and now September, according to the CME’s FedWatch tool, markets retraced on the thought of no more... Read the Full Story |
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Stocks | | | Rooting for Donald Trump to fail has rarely been this profitable.Just ask a hardy band of mostly amateur Wall Street investors who have collectively made tens of millions of dollars over the past month by betting that the stock price of his social media business — Truth Social — will keep dropping d... Read the Full Story |
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Stocks | | | There have been lawsuits, short-selling and rampant speculation. Now, as Trump Media & Technology Group approaches its first month as a publicly traded company, it’s clear that — like the man it’s named after — there’s nothing typical about the stock. “If I woke up tomorrow and shares were zero ... Read the Full Story |
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Markets | | | The semiconductor sector, usually a beacon of market strength, found itself in a storm last Friday. Shares of NVIDIA Corp. (NASDAQ: NVDA) closed the day down 10%, wiping out nearly $200 billion in market capitalization. This dramatic plunge sent shockwaves through the industry, leaving many leading ... Read the Full Story |
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Stocks | | | The best week for U.S. stocks since November closed out with more gains thanks to Alphabet and Microsoft on Friday.The S&P 500 rallied 1% to finish its first winning week in the last four. The Dow Jones Industrial Average rose 153 points, or 0.4%, and the Nasdaq composite jumped 2%.Alphabet leap... Read the Full Story |
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Markets | | | After announcing the first quarter 2024 financial results, arguably the most critical quarter of the year as it sets the tone for any stock, shares of Hasbro Inc. (NASDAQ: HAS) jumped by as much as 12%.
With Mattel Inc. (NASDAQ: MAT) also rallying on earnings and flirting with new 52-week hig... Read the Full Story |
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One standout player in the exchange-traded funds (ETFs) world has been making waves for its recent relative strength: the Utilities Select Sector SPDR Fund (NYSEARCA: XLU). It's been holding its ground well this year, clocking in gains of almost 5% so far. Lately, however, it's caught up with the ... Read the Full Story |
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Markets | | | The market’s reaction to Caterpillar’s (NYSE: CAT) Q1 results and guidance proves that the correction in price action is not over. The news isn’t bad, but tepid and weaker than expected, causing a sentiment reset. Analysts rate the stock at Hold and lifted their price targets stead... Read the Full Story |
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Markets | | | Exxon Mobil's profit declined in its first quarter as natural gas prices fell and industry refining margins dropped. The energy company earned $8.22 billion, or $2.06 per share, for the three months ended March 31. A year earlier it earned $11.43 billion, or $2.79 per share.The results didn't meet W... Read the Full Story |
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Markets | | | Microsoft has reported that its profit rose 20% for the January-March quarter as it tries to position itself as a leader in applying artificial intelligence technology to make workplaces more productive Read the Full Story |
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Friday's Early Bird Stock Of The Day Nkarta, Inc., a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis. It also develops NKX101, a CAR NK product candidate targeting cells that display NKG2D ligands, which is in Phase I clinical trial for the treatment of r/r acute myeloid leukemia or higher risk myelodysplastic syndromes, as well as for solid tumors. In addition, the company develops NKX070, targeting the CD70 tumor antigen to treat solid and liquid tumors; and NK+T cell therapy for use in the treatment of oncology, autoimmune disease, or infectious disease. It has a research collaboration agreement with CRISPR Therapeutics AG. Nkarta, Inc. was incorporated in 2015 and is based in South San Francisco, California. | | View Today's Stock Pick |
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