Good MorningThe FOMC gave the market what it wanted: a 50 basis point rate cut, confirming a shift in economic policy and fundamental conditions expected to lead to a sustained period of growth. However, the S&P 500 could not sustain the immediate surge in price action, confirming that the Fed decision was priced into the market and that a top has been reached for stocks. The takeaway is that a sector rotation that began in July may gain momentum and drive increased volatility for the broad market.
Volatility is the operative word, not a downtrend. Investors should now expect a period of consolidation and sideways movement in the S&P 500 as the market exits one group of trades in favor of another. The consolidation could last for months as it takes four to six fiscal quarters for FOMC policy to fully impact the economy. Between now and then, the S&P 500 will likely move within a trading range, with 5,670 as the peak and the bottom as much as 10% lower. Featured: $3,000 Gold Forecast—Retirement Savings at Risk? (Priority Gold) |
Markets | | Wall Street is rising toward records Thursday as a delayed jubilation sweeps markets worldwide following the Federal Reserve’s big cut to interest rates.The S&P 500 was 2% higher in afternoon trading and above its all-time closing high set in July. The Dow Jones Industrial Average was up 645 poi... Read the Full Story |
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With the Federal Open Market Committee (FOMC) cutting interest rates by a larger-than-expected 50 basis points in its September meeting, businesses throughout the country will be able to take out loans more cheaply. One intended goal of a rate cut like this is to foster increased profitability thr... Read the Full Story |
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Alphabet (NASDAQ: GOOGL), the tech giant behind Google, has seen a recovery in recent days, with shares climbing nearly 6% over the past five days. However, despite this recent bounce, the stock remains down nearly 17% from its 52-week high, weighed down by market rotation and ongoing antitrust ... Read the Full Story |
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Stocks | | Homebuilder stocks are having a banner year, outpacing the broader market on a wave of optimism that mortgage rates will fall and help juice home sales into 2025. The S&P Composite 1500 Homebuilding Index, which includes 16 stocks, including homebuilders Lennar, D.R. Horton, KB Home and PulteGro... Read the Full Story |
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Since powering to several all-time highs in June and July, shares of Microsoft Corp (NASDAQ: MSFT) have been struggling to regain momentum. Equities, in general, had a solid first half of the year, but interest rate jitters and a general softening of sentiment towards tech brought about some volat... Read the Full Story |
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The FOMC gave the market what it wanted: a 50-basis point interest rate cut and an outlook for aggressive cuts to continue through the end of next year. As good as the news is, the outcome is that there is as much uncertainty about the future as there has been all year and a rising risk of heighte... Read the Full Story |
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Markets | | Two years ago, food cart worker Fathima Shiyama had to wait in line, sometimes for days, to get cooking gas, fuel and other essentials. It was a test of patience for her and millions of other Sri Lankans as their country languished in economic and political chaos.Since then, under President Ranil Wi... Read the Full Story |
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Markets | | The judge who will decide whether Google holds a monopoly over technology that matches buyers and sellers of online advertising must choose whether to believe what Google executives wrote or what they’ve said on the witness stand Read the Full Story |
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Markets | | The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago.The decision was widely expected amid ongoing concerns about inflation within the bank’s monetary p... Read the Full Story |
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Edgewise Therapeutics (NASDAQ: EWTX) is up 50% in a single session and 450% from recent lows for a reason. Its novel, oral, selective treatment for obstructive hypertrophic cardiomyopathy did remarkably well in early trials. The news is important because hypertrophic cardiomyopathy or HCM for shor... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Alzamend Neuro, Inc., an early clinical-stage biopharmaceutical company, focuses on developing various products for the treatment of neurodegenerative and psychiatric disorders. The company's pipeline includes AL001, which delivers a therapeutic combination of lithium, proline, and salicylate for the treatment of Alzheimer's, bi-polar disorder, post-traumatic stress disorder, major depressive disorder, other neurodegenerative diseases, and psychiatric disorders; and ALZN002 stage, which uses a method using a mutant-peptide sensitized cell as a cell-based therapeutic vaccine to restore the ability of a patient's immunological system to combat Alzheimer's disease. Alzamend Neuro, Inc. was incorporated in 2016 and is headquartered in Atlanta, Georgia. | View Today's Stock Pick |
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