Good MorningThe S&P 500 set a new all-time high, but the gains were modest. Investors started the week building on the bullish momentum sparked by last week’s interest rate cuts. The Dow and NASDAQ indexes also posted slight gains.
The rise in equities comes despite the latest reading on the manufacturing PMI, which came in at 47. Any reading below 50 indicates contraction; however, this marked a 15-month low in the index. By contrast, the S&P U.S. services index came in at 54.4. Although that was a two-month low, it still points to tepid growth.
Investors will get a slew of data this week, starting with housing starts on Tuesday, the final reading of Q2 GDP on Thursday, and the latest reading on the PCE price index on Friday morning. Right now, the market is hoping for higher housing starts, a steady GDP number, and a Goldilocks reading on inflation.
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Every time the Federal Reserve (the Fed) cuts interest rates, investors tend to flock to the sectors they believe will outperform the most due to historical reactions and fundamental reasoning. However, this rate cut is a bit different than the ones experienced in the recent past, as the United St... Read the Full Story |
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From Our PartnersWelcome to the financial rollercoaster of 2024, where inflation is persistent, stock markets are overinflated and volatile, global conflicts are intensifying, and the national debt is reaching new heights.
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eBay Inc. (NASDAQ: EBAY) is the world’s largest online auction site connecting buyers and sellers worldwide. It was one of the first consumer-to-consumer (C2C) online auction sites on the internet, and it's nearing its 30th birthday. eBay is no longer the hypergrowth e-commerce stock it on... Read the Full Story |
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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 |
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Markets | | Asian shares advanced Tuesday, with Chinese markets logging big gains after the central bank announced a slew of measures to support the economy. Shares in Hong Kong jumped 3.6 and the Shanghai Composite index surged 3.4% after People’s Bank of China Gov. Pan Gongsheng said the reserve requirement f... Read the Full Story |
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As a new regime and phase begin for the market and economy, after the FED cut interest rates by a surprising 50bps last Wednesday, several new opportunities and sector bull and bear markets might begin.
The biotech sector looks primed for a potential momentum shift and significant breakout,... Read the Full Story |
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Microsoft Co. (NASDAQ: MSFT) signed a 20-year power purchase agreement with Constellation Energy Co. (NASDAQ: CEG). The clean electricity will come from a revived nuclear reactor formerly known as Three Mile Island Unit 1, renamed Crane Clean Energy Center. Constellation plans to invest $1.3 billi... Read the Full Story |
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Markets | | China rolled out a raft of measures Tuesday aimed at countering a prolonged downturn in its property market that is weighing on the world’s second largest economy. The chief of China’s central bank said it would cut the amount of reserves banks are required to keep. It also slashed interest rates on... Read the Full Story |
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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 |
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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 |
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Markets | | Have you started saving for retirement? If you don’t think your retirement savings are up to snuff, you aren’t alone. According to data from the Census Bureau, about 50% of men and women approaching retirement age do not have any money in savings. There are many reasons for this, includi... Read the Full Story |
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Tuesday's Early Bird Stock Of The Day MongoDB, Inc., together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB. It offers professional services comprising consulting and training. The company was formerly known as 10gen, Inc. and changed its name to MongoDB, Inc. in August 2013. MongoDB, Inc. was incorporated in 2007 and is headquartered in New York, New York. | View Today's Stock Pick |
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