Good MorningEquity markets resumed their downward movement on Thursday after a weaker-than-expected GDP reading. The first estimate for Q1 GDP came in at 1.6%, well below the consensus forecast. The weak data renewed fear of slowing growth and a possible recession, cutting more than 1.0% off the Dow Jones Industrial Average and S&P 500 before the open. However, the market began to recover by the end of the session and closed the day off of the low.
Where the market goes next will come down to data released today. The PCE price index is due and expected to be hot. A hot read will keep the FOMC's foot on the economic brake, increasing the odds of a recession. However, the FOMC's policy is sufficiently tight. It can act to stave off recession, given the inflation data cooperates. Because the economy is still growing, the S&P could still move higher.
The risk now is stagflation. The Fed can stave off a recession, but if it is forced to cut rates sooner than necessary to fight inflation to fight recession instead, inflation will accelerate and remain a problem. Featured: Billionaires dump Nvidia for this instead? (Altimetry) 
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Stocks | | | Amid global tensions and some severe market pullbacks, investors might seek refuge in defensive sectors, particularly oversold stocks offering high dividends. With uncertainties looming over geopolitical conflicts and dwindling prospects of the Federal Reserve's rate cuts, it might be wise to turn... Read the Full Story >> |
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Markets | | | Every cycle in the economy brings a different set of opportunities for investors. These are weighted as a balance between risk and potential reward. Depending on market conditions, the scale may tip to one side or the other. Today’s environment may pose a higher-than-desired risk for most in... Read the Full Story >> |
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Stocks | | | The best week for U.S. stocks since November closed out with more gains thanks to Alphabet and Microsoft on Friday.The S&P 500 rallied 1% to finish its first winning week in the last four. The Dow Jones Industrial Average rose 153 points, or 0.4%, and the Nasdaq composite jumped 2%.Alphabet leap... Read the Full Story >> |
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Markets | | | The market sell-off has awakened the hibernating bears. If you're feeling bearish and seek to profit from falling stocks but feel short selling is too risky, you can take a lower-risk approach with stock options. Short-selling stocks can result in unlimited losses if the stock runs up against you... Read the Full Story >> |
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Stocks | | | With the S&P 500 index, and equities in general, having had their worst run of red days so far this year, almost every stock has seen losses in recent weeks. This includes names of all sizes, and from across all industries; as the reason for the dip, a s... Read the Full Story >> |
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Markets | | | Alphabet Inc. (NASDAQ: GOOGL) got a much-needed win from its first-quarter earnings report. Shares of GOOGL stock are up more than 11% in pre-market trading after the tech giant announced its first-ever dividend and expanded its share buyback program to $70 billion. The 20 cents per share d... Read the Full Story >> |
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Markets | | | Exxon Mobil's profit declined in its first quarter as natural gas prices fell and industry refining margins dropped. The energy company earned $8.22 billion, or $2.06 per share, for the three months ended March 31. A year earlier it earned $11.43 billion, or $2.79 per share.The results didn't meet W... Read the Full Story >> |
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Markets | | | Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. He angrily hopped on his electric tricycle and traveled several kilometers to another branch where he finally managed to withdraw ... Read the Full Story >> |
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Markets | | | Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York.The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank and had roughly $6 billion in assets and $4 billion in depos... Read the Full Story >> |
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Markets | | | JPMorgan Chase CEO Jamie Dimon says he's hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn't rule out more troubling possibilities, such as stagflation.In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained "... Read the Full Story >> |
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