Good MorningEquity markets advanced following the FOMC policy statement, rebounding from the week's lows, but couldn't hold the gains until the close. The FOMC held rates steady as expected but altered its statement, citing a lack of further progress in the fight against inflation. The news is negative for equities because higher interest rates impact consumer spending.
Results from McDonald's, Kraft Heinz, and Starbucks suggest consumers are pulling back on spending, which could lead to a nationwide recession. Consumer spending is nearly 70% of the economy, so it won't take a large decline to cause a recession. The question is how long the recession will last; if the FOMC cannot cut rates because of persistently high inflation, it could last long.
The S&P 500 is in correction and could continue to move lower over the next few days to weeks. The market has been supported by the idea that FOMC's next move is to cut rates, but the risk that they won't cut rates is growing, leading the market to reset its outlook for earnings growth. The market was pricing in the policy pivot for June; the way inflation is running, it may not happen until next year. Featured: Is Elon's empire crumbling? (Ad) 
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The first quarter of the 2024 earnings season has kicked off. While markets focus primarily on financial stocks to lead the way into the new year, others focus on more immediate opportunities based on economic trends that have already started to take on water. Shares of FMC Co. (NYSE: FMC) could b... Read the Full Story |
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From Our Partners | | New Hampshire just launched a Strategic Crypto Reserve — and James Altucher says it’s the first sign that “Trump’s Great Gain” has officially begun.
Altucher believes select cryptos could turn $900 into $108,000 over the next 12 months — and he’s laying out the full gameplan in a new presentation. | | See Altucher’s Trump crypto prediction here |
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https://www.marketbeat.com/stocks/NYSE/HWM/Year-to-date, the industrials sector has demonstrated significant outperformance, surging by over 7% compared to the benchmark SPY ETF, which has seen a more modest increase of just over 5.6%.
Stocks in the aerospace and defense industries have not... Read the Full Story |
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Professional traders often say that the first move is always wrong; how much traction that saying has over shares of Chesapeake Energy Co. (NASDAQ: CHK) is up for debate. After reporting its first quarter 2024 earnings, arguably the most critical earnings as they set the tone for the rest of ... Read the Full Story |
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From Our Partners | | CPA and CFA says you have WAY too many stocks - just buy these 3
After years working at the biggest accounting firms like Deloitte and KPMG, Joel Litman (who’s also a member of the Global CFA Institute) figured out a unique, less-risky way to grow rich in the stock market. Litman says you don’t need dozens of investments, overpriced advisers, or hedge funds. You just need these 3 stocks, which have helped Litman’s own mom earn 3,400%. | | Click here to view… |
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Stocks | | | Asian markets wobbled in early Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates. U.S. futures surged and oil prices were higher.Tokyo’s Nikkei 225 index opened with a decline, then climbed 0.1% to 38,299.71.The Japanese yen surged as... Read the Full Story |
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Advanced Micro Devices (NASDAQ: AMD) share prices inflated in 2023 and early 2024 on hopes for an AI boom like NVIDIA (NASDAQ: NVDA). The share price is down 35% from that peak because the boom didn’t happen, or did it? Unlike NVIDIA, Advanced Micro Devices is a highly diversified semiconduc... Read the Full Story |
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From Our Partners | | Bitcoin just passed Amazon in total market cap — but most investors are missing the bigger opportunity.
While the crowd buys Bitcoin outright, trader Larry Benedict is using a method called “Bitcoin Skimming” to target 6x, 9x, even 22x bigger profits. He reveals how it works in a free video. | | Watch the Bitcoin Skimming strategy here |
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The bar was set high for Amazon (NASDAQ: AMZN), so the Q1 results were doubly strong. The takeaway is that the multinational retail and web services conglomerate is firing on all cylinders, providing favorable guidance, and analysts are lifting their targets. What this means for investors is that ... Read the Full Story |
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Markets | | | DoorDash reported higher-than-expected revenue in the first quarter as strong growth in U.S. grocery orders helped make up for slowing restaurant demand.But the company's shares fell more than 15% in after-hours trading Wednesday as investors appeared concerned about rising costs. DoorDash said its ... Read the Full Story |
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Markets | | | Starbucks lowered expectations for its full-year sales and profit Tuesday after a disastrous quarter that saw a slowdown in store visits across the world.The Seattle coffee giant said revenue for the January-March period dropped 2% to $8.56 billion. That was far short of Wall Street's forecast of $9... Read the Full Story |
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Markets | | | African climate-tech startups are increasingly raising money from private sources, but while those funds for climate solutions are growing, a huge gap remains in meeting the actual financial needs for climate action in Africa Read the Full Story |
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Markets | | | U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures with prices and interest rates still elevated. The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 97 in Apri... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Conn's, Inc. operates as a specialty retailer of durable consumer goods and related services in the United States. It operates in two segments, Retail and Credit. The company's stores offer home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; and furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as flat and other mattresses. Its stores also provide consumer electronics comprising LED, OLED, QLED, 4K Ultra HD, 8K televisions, home theater audio, video game consoles, arcade gaming products, and portable audio equipment; and home office products, including computers, tablets, monitors, and accessories. In addition, the company offers short- and medium-term financing to its retail customers; and product support services, which comprise delivery and installation services, credit insurance products, product repair services, and repair service agreements. It operates retail locations in Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. The company was founded in 1890 and is headquartered in The Woodlands, Texas. | | View Today's Stock Pick |
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