Good MorningEquity markets advanced following the FOMC policy statement, rebounding from the week's lows, but couldn't hold the gains until the close. The FOMC held rates steady as expected but altered its statement, citing a lack of further progress in the fight against inflation. The news is negative for equities because higher interest rates impact consumer spending.
Results from McDonald's, Kraft Heinz, and Starbucks suggest consumers are pulling back on spending, which could lead to a nationwide recession. Consumer spending is nearly 70% of the economy, so it won't take a large decline to cause a recession. The question is how long the recession will last; if the FOMC cannot cut rates because of persistently high inflation, it could last long.
The S&P 500 is in correction and could continue to move lower over the next few days to weeks. The market has been supported by the idea that FOMC's next move is to cut rates, but the risk that they won't cut rates is growing, leading the market to reset its outlook for earnings growth. The market was pricing in the policy pivot for June; the way inflation is running, it may not happen until next year. Featured: 10X Bitcoin returns using only your regular brokerage account! (DTI) 
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Markets | | | Solar energy stocks haven’t been part of the market hype, which rallied to all-time highs in the past quarter after potentially pricing in the Federal Reserve’s (the Fed) interest rate cuts, which never came. One sector holding up its end of the performance bargain is energy, helping s... Read the Full Story >> |
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Stocks | | | World markets wobbled in Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates.U.S. shares were set to rise, as the futures for the S&P 500 surged 0.5% and for the Dow Jones Industrial Average were 0.4% higher. European markets opened... Read the Full Story >> |
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Stocks | | | Asian markets wobbled in early Thursday trading after U.S. stocks swung to a mixed finish with the Federal Reserve delaying cuts to interest rates. U.S. futures surged and oil prices were higher.Tokyo's Nikkei 225 index opened with a decline, then climbed 0.1% to 38,299.71.The Japanese yen surged as... Read the Full Story >> |
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Markets | | | Advanced Micro Devices (NASDAQ: AMD) share prices inflated in 2023 and early 2024 on hopes for an AI boom like NVIDIA (NASDAQ: NVDA). The share price is down 35% from that peak because the boom didn’t happen, or did it? Unlike NVIDIA, Advanced Micro Devices is a highly diversified semiconduc... Read the Full Story >> |
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Markets | | | As tepid as Kraft Heinz's (NASDAQ: KHC) Q1 results and guidance for Q2 are, they aren’t bad. The results and guidance align with the company’s forecast for Q1 and the analysts' forecasts for Q1 and Q2, which are for steady business, a return to growth, and a widening margin. The compan... Read the Full Story >> |
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Markets | | | Yum! Brands, Inc. (NYSE: YUM) is a global powerhouse in the quick-service restaurant industry. Yum! Brands’ earnings report for the first quarter of 2024 was recently released, disappointing analysts. With a portfolio encompassing renowned brands such as KFC, Taco Bell, Pizza Hut, and Habit ... Read the Full Story >> |
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Markets | | | The bar was set high for Amazon (NASDAQ: AMZN), so the Q1 results were doubly strong. The takeaway is that the multinational retail and web services conglomerate is firing on all cylinders, providing favorable guidance, and analysts are lifting their targets. What this means for investors is that ... Read the Full Story >> |
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Markets | | | DoorDash reported higher-than-expected revenue in the first quarter as strong growth in U.S. grocery orders helped make up for slowing restaurant demand.But the company's shares fell more than 15% in after-hours trading Wednesday as investors appeared concerned about rising costs. DoorDash said its ... Read the Full Story >> |
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Markets | | | Starbucks lowered expectations for its full-year sales and profit Tuesday after a disastrous quarter that saw a slowdown in store visits across the world.The Seattle coffee giant said revenue for the January-March period dropped 2% to $8.56 billion. That was far short of Wall Street's forecast of $9... Read the Full Story >> |
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Markets | | | African climate-tech startups are increasingly raising money from private sources, but while those funds for climate solutions are growing, a huge gap remains in meeting the actual financial needs for climate action in Africa Read the Full Story >> |
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Thursday's Early Bird Stock Of The Day Conn's, Inc. operates as a specialty retailer of durable consumer goods and related services in the United States. It operates in two segments, Retail and Credit. The company's stores offer home appliances, such as refrigerators, freezers, washers, dryers, dishwashers, and ranges; and furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as flat and other mattresses. Its stores also provide consumer electronics compri... | | View Today's Stock Pick |
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