Good MorningEquity markets pulled back for the third day on Thursday as traders braced for today's PCE inflation report. The PCE price index is the Fed's favored gauge of consumer inflation and is expected to be hot. The consensus estimates have the figure pulling back slightly compared to last month but still running well above the target 2.0% rate. The data should align with the idea that the FOMC will cut rates but not that it will soon. Investors should expect the Fed to keep policy as-is until late this year, if not into 2025.
The question is, what will the market do? The market has been rallying on economic resilience and S&P 500 earnings growth and may continue higher regardless of the data. In this scenario, the causes of high inflation and high interest rates will persist and could lead to stagflation. However, a firm indication that no rates are coming soon could cause the market to reset the outlook for this year and next year's earnings growth and reset the S&P 500 valuation along with it. Results from names like Salesforce, which included slowing growth and tepid guidance, helped set the market up for a large contraction. Featured: Elon Musk’s Final Masterpiece: “X-9840” (Paradigm Press) 
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As the overall market trades just 1.5% away from its all-time high and up over 4% on the month, there has been a noticeable increase in risk appetite and speculation in small-cap penny stocks by retail investors. This surge in interest follows the meme mania experienced earlier in the month. Howev... Read the Full Story |
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Stocks | | | An already verdant May for Wall Street finished with another push higher as stocks rallied Friday after a report showed inflation is at least not worsening.The S&P 500 rose 0.8% to close its sixth winning month in the last seven. The main measure of the U.S. stock market’s health set an all-time... Read the Full Story |
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Smart for Life (NASDAQ: SMFL) shares are surging and could continue to increase, but there is no good reason to buy them unless you are a short-seller closing out a position and getting ready to reposition for the next leg lower. The news surrounding this penny stock is a bottomless pit of reasons... Read the Full Story |
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Pure Storage Inc. (NYSE: PSTG) delivered a stellar first-quarter earnings report after the market closed on May 29, 2024. Not surprisingly, PSTG stock was up more than 2% the day after the report, and analysts are quickly expressing a bullish sentiment that may drive the stock even higher.
... Read the Full Story |
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Markets | | | Saudi Arabia said Friday it will sell a second sliver of stock in its state oil giant Aramco worth billions of dollars, its first tranche since its initial public offering back in 2019.Saudi Aramco, formally known as the Saudi Arabian Oil Co., acknowledged the stock sale in a corporate disclosure on... Read the Full Story |
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From Our PartnersElon Musk just tested a new type of A.I. that according to Wired Magazine will usher in…
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Markets | | | Salesforce (NYSE: CRM) stock went on sale following the Q1 release, providing investors a once-in-a-lifetime opportunity. It is not every day that a high-quality, industry-leading, blue-chip stock on track to deliver robust capital returns provides a 25% discount, so it likely won’t last long.... Read the Full Story |
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Markets | | | Narendra Modi swept to power a decade ago on promises to transform India’s economy, and it would be hard to argue he hasn’t made strides. As he seeks a third term as prime minister, the country’s economic growth is the envy of the world, its stock markets are booming, and new buildings and highways ... Read the Full Story |
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Markets | | | Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. That's more than expected as a painful spike in consumer prices takes its time to fade away.It's unlikely to stop the European Central Bank from making a first interest rate cut next week — and moving ah... Read the Full Story |
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Markets | | | Factory activity in China slowed more than expected in May, suggesting further pressure on an economy already burdened by a prolonged crisis in the property industry, according to an official survey released Friday. The manufacturing purchasing managers index from the China Federation of Logistics a... Read the Full Story |
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Brand-name drug costs continue to climb, but patients and insurers find respite by migrating to generic or biosimilar versions as patents run out. Generics are loved by health insurers, Medicare, and patients as they contain the same compounds and active ingredients for a cheaper price. Politician... Read the Full Story |
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Friday's Early Bird Stock Of The Day Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated. Oxford Lane Capital Corp was formed on June 9, 2010 and is domiciled in the United States. | | View Today's Stock Pick |
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