Good MorningThe S&P 500 set an all-time high following the FOMC's decision to cut rates by an aggressive 50 basis points. However, the Fed didn't alleviate uncertainty so much as to increase it because the aggressive pace suggests the need to front-run the risk of a recession. The takeaway for investors is that the S&P 500 may continue higher this week. Still, it has begun to form a Rising Wedge pattern, likely resulting in a price action reversal within the coming weeks.
The risk for the market next week is the PCE price index. The index is due on Friday and needs to be a Goldilocks number: neither too hot nor too cold. Any variation from the trend will alter the outlook for rate cuts and economic fundamentals, with hot inflation reducing the chances for additional rate reductions this year and cool inflation increasing the odds of a recession.
Featured: Obama’s final twist in Appalachia (Porter & Company) 
|
Markets | | | U.S. stock indexes reached new heights Monday after drifting higher in a quiet day of trading.The S&P 500 rose 16.02 points, or 0.3%, to 5,718.57 and edged past its record set on Thursday. The Dow Jones Industrial Average added 61.29 points, or 0.1%, to its own all-time high set on Friday and cl... Read the Full Story |
|
From Our PartnersWelcome to a year of unparalleled opportunities! Dive into our exclusive guide, "9 Stocks Set to Soar," meticulously selected to elevate your portfolio in 2024. Step into 2024 with confidence and the right assets at your fingertips. Click below to opt-in and receive up to two additional free bonus subscriptions. Unsubscribe at any time. | | | | [Unlock Your Report Now] |
|
Stocks | | | A record-setting week for Wall Street closed on a quieter note Friday, as U.S. stocks drifted around the highs they hit during a worldwide rally the day before. The S&P 500 slipped 0.2% from its record, and the Nasdaq composite fell 0.4%. The Dow Jones Industrial Average, meanwhile, added 38 poi... Read the Full Story |
|
Markets | | |
U.S. stocks reacted positively following the Federal Open Market Committee's announcement in mid-September that it would lower interest rates by 50 basis points, wider than many analysts had anticipated. Generally, a lower federal funds rate is often a boon for stocks, as businesses are able to mo... Read the Full Story |
|
From Our PartnersGuess who's selling NVDA next
The most successful hedge fund in history quietly sold 500,000 shares. Here's what that means for your money. Billionaire Wall Street investors are quietly offloading millions of shares. What do they know that you don't? It's arguably the most popular stock in the world. Now, one 50-year Wall Street legend says its day in the sun could finally be coming to an end. Last year, he warned of two stocks that went on to crash 60%. | | | | Now he's just issued a warning for the most popular stock in the world: Nvidia (NVDA). |
|
Markets | | |
The Federal Reserve rate cuts have sent the market up, but some stocks are rising more than others. That includes small pharmaceutical companies like Wave Life Sciences (NASDAQ: WVE), whose shares rose 9% the day after the central bank reduced rates by 50 basis points.
However, rate cuts are no... Read the Full Story |
|
Markets | | |
U.S. retail and food service sales for August reached nearly $711 billion, an improvement of 0.1% sequentially and 2.1% year-over-year. Though relatively modest, these gains nonetheless represent a surprise, as many analysts had anticipated that poor auto sales and the lingering impact of inflatio... Read the Full Story |
|
From Our PartnersWelcome to a year of unparalleled opportunities! Dive into our exclusive guide, "9 Stocks Set to Soar," meticulously selected to elevate your portfolio in 2024. Step into 2024 with confidence and the right assets at your fingertips. Click below to opt-in and receive up to two additional free bonus subscriptions. Unsubscribe at any time. | | | | [Unlock Your Report Now] |
|
Markets | | | With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it's all but conquered inflation after three long years.The public at large? Not so much.Consumer surveys, including one released Friday by The Associated Press-NORC Center f... Read the Full Story |
|
Markets | | | The European Union pledged on Friday to lend Ukraine up to 35 billion euros ($39 billion) as part of a loan package organized by the Group of Seven major industrial nations, as it seeks to help the country rebuild its economy and its war-shattered power grid.G7 leaders agreed in June to engineer a $... Read the Full Story |
|
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 |
|
Markets | | |
Onsemi (NASDAQ: ON), formerly known as ON Semiconductor, is a chip stock that hasn’t had a great 2024 so far. The company’s shares are down 12%, underperforming its industry. The Invesco PHLX Semiconductor ETF (NASDAQ: SOXQ) is up 22% this year. However, some indicators give reason to ... Read the Full Story |
|
Markets | | |
Regulations surrounding cannabis in the U.S. are far from settled, and the legal status of various cannabis-derived products for recreational or medical use can vary significantly from one jurisdiction to the next. In this shifting landscape, companies focused on cultivating, producing, and sellin... Read the Full Story |
|
Monday's Early Bird Stock Of The Day Tempus AI Inc. is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. Tempus AI Inc. is based in CHICAGO. | | View Today's Stock Pick |
|
