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: Investors! This Is A Lithium Company To Watch (Jourdan Resources) 
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Markets | | | Asian stock markets rose Tuesday after Wall Street fell on concern the U.S. economy may be weakening following a report that showed growth in service industries slowing. Shanghai, Tokyo and Hong Kong rose. Sydney retreated. Oil prices declined.Wall Street's benchmark S&P 500 index lost 0.2% on M... Read the Full Story |
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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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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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From Our PartnersAs good as ChatGPT is at writing content, it still doesn't understand what it's saying. But a new AI technology breakthrough will understand and process information like a human. One young company is leading the way. | | | | See How This AI Innovation Could Impact Investors Like You |
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Markets | | | The world’s largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC Read the Full Story |
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Markets | | | Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher.The Saudi cut of 1 million barrels per day, to start in ... Read the Full Story |
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Markets | | | Two insurance industry giants have pulled back from California's home insurance marketplace, saying that increasing wildfire risk and soaring construction costs have prompted them to stop writing new policies in the nation's most populous state.State Farm announced last week it would stop accepting ... Read the Full Story |
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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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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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Markets | | | Australia’s central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1%, and warned further rises could follow.The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest monthly meeting. That followed a higher-than-expecte... Read the Full Story |
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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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Tuesday's Early Bird Stock Of The Day The Trade Desk, Inc. operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices. It provides data and other value-added services. The company serves advertising agencies, brands, and other service providers for advertisers. The Trade Desk, Inc. was incorporated in 2009 and is headquartered in Ventura, California. | | View Today's Stock Pick |
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