Good MorningEquity markets tread water this week while traders waited for the May PCE price index to be released. The data is expected to be hot, but it may not matter. The market action suggested the rally would continue with or without a cooler read on inflation, opening up additional risk. The Fed suggests that more than 1 and even more than 2 more rate hikes are needed and that there could be 2 back to back hikes this summer.
As always, the earnings outlook will drive the S&P 500 this year. As it is, the market continues to expect a return to growth in the back half. So long as that remains in the picture, the market should be able to claw its way higher. The question is how high it can go. The Fed is on track to tighten the screws again, possibly leading to more bank failures and the recession hovering on the horizon for the last 12 months. Featured: Get Your Cash Out of U.S. Banks Immediately (Chaikin Analytics) 
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Markets | | | Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) disclosed in a filing late Wednesday that it purchased an additional 2,138,250 shares of Occidental Petroleum (NYSE: OXY). Buffett's Berkshire acquired the additional shares between June 26 and June 28 for about $122.1 million. Berksh... Read the Full Story >> |
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Markets | | | Sometimes the stock market can really make you scratch your head. As investors, we’re used to being always told to follow a trend, buy into a good thing, don’t catch the falling knife. This is why the recent run of downgrades to Tesla Inc’s (NASDAQ: TSLA) stock is so perplexin... Read the Full Story >> |
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Markets | | | The U.S. Securities and Exchange Commission charged Amit Dagar, a former Pfizer employee, and his friend Atul Bhiwapurkar for trading on insider information. The illegal trades were based on inside knowledge of Pfzier's successful trial for Paxlovid, the antiviral drug that is used to treat Covid-19... Read the Full Story >> |
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Stocks | | | Income-oriented investors can keep an eye on big banks including Bank of America (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM) and Goldman Sachs Group Inc. (NYSE: GS), to see whether they opted to boost dividends, following sunny results of the Federal Reserve’s banking stress tests. On... Read the Full Story >> |
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Markets | | | SMART Global Holdings (NASDAQ: SGH) is part of the semiconductor family, a sector that has taken on the spotlight during the past few weeks; the attention to the space was drawn after NVIDIA (NASDAQ: NVDA) reported optimistic outlooks and bullish results around its artificial intell... Read the Full Story >> |
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Markets | | | Innovation today is moving faster than ever. In the last two years, we collected 90 percent of the world's data from various sources, like social media posts and online purchases to GPS tracking and health devices. In 2023, 91.6 percent of Fortune 1000 companies planned to invest in Big Data and AI ... Read the Full Story >> |
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Markets | | | A man has officially been identified in the search for a tourist that defaced the Colosseum in Rome by carving names into a brick wall at the historical landmark.Italy's Culture Minister, Gennaro Sangiuliano, took to social media on Thursday to report that the Italian police (the Carabinieri) had "i... Read the Full Story >> |
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Markets | | | In a long-awaited ruling by the Supreme Court on President Joe Biden's student loan forgiveness program, the court blocked the plan in a 6-3 decision on Friday.The program would have allowed eligible borrowers to eliminate up to $20,000 in debt but was deemed an unlawful overreach of executive power... Read the Full Story >> |
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Markets | | | Nothing can make a business more irrelevant than saying, "That's how we've always done it." Relying on existing ideas and processes is attractive. After all, if your business is built on one way of operating, why would you risk trying something new?Here's one reason: of the companies listed in the 1... Read the Full Story >> |
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Markets | | | The S&P 500 (NYSE: SPY) extended its summer rally after softer-than-expected PCE price data. The data is the latest in a string of good news that will help lift the market into mid-summer. The caveat is that inflation remains high, the Fed is on track to hike rates again, and the earnings outl... Read the Full Story >> |
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