Good MorningEquity markets hovered near record highs for the third day on Wednesday as traders waited on the most critical data reading this quarter, the PCE Price Index. The PCE is the FOMC's favored tool to gauge consumer-level inflation and is expected to be hot. Analysts forecast a sequential increase at the headline and core levels, keeping the YOY comps well above the Fed's target range. At these levels, the Fed will unlikely cut rates before June and may wait until after the summer.
In this scenario, the S&P 500 is unlikely to experience the robust earnings growth acceleration forecasted for this year, a potential catalyst for a massive sell-off. The S&P 500 has advanced solidly this year without a significant round of profit-taking, and the charts are oversold. However, the risks for traders go both ways. The data may be hot, but still not hot enough to spook investors. The S&P 500 is working hard on improving margins, controlling costs, and building leverage. The Fed may not cut rates as soon as expected but will cut rates when it sees the proper time. The takeaway is that the economy is still growing, the market is rallying, and the Fed Put is in place. Featured: The World's First "$20 Trillion Drug"? (Behind the Markets) 
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Markets | | | Some businesses could soon see the bullish side effects of a resilient consumer amongst the pretext of potential interest rate cuts coming this year from the FED. According to the FedWatch tool at the CME Group (NASDAQ: CME), these pivots could be coming as soon as May of this year. However, not a... Read the Full Story >> |
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Markets | | | Does the recent addition of Amazon Inc. (NASDAQ: AMZN) to the Dow Jones Industrial Average signal that the 30-stock index is still relevant? And what does the addition mean for Amazon stock? There's been plenty of debate as to whether the price-weighted Dow is still a relevant market indicator. ... Read the Full Story >> |
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Markets | | | Small caps and the iShares Russell 2000 ETF (NYSE: IWM) are marking a notable resurgence, reflecting a significant shift in market sentiment. Over the past three months, the ETF has surged more than 14%, showing resilience even with the year-to-date gain standing at 1.61%. Currently, the ETF is co... Read the Full Story >> |
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Markets | | | While our readers will be well used to hearing how the hottest tech stocks are back trading at all-time highs, there are few stocks from the more traditional industries doing the same thing. Take retail, for example; Ralph Lauren Co. (NYSE: RL) is having a great run but has yet to t... Read the Full Story >> |
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Stocks | | | U.S. stocks are drifting Wednesday and edging a bit lower from their all-time highs.The S&P 500 was down 0.1% in midday trading, continuing a quiet and listless run since it set a record last week. The Dow Jones Industrial Average was down 69 points, or 0.2%, as of 11 a.m. Eastern time, and the ... Read the Full Story >> |
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Markets | | | Despite some ethical concerns, U.S. Senate and House of Representatives members frequently buy and sell stocks of publicly traded companies, often with fantastic returns. Elected officials' trading habits are also public data in their mandatory financial disclosures, so MarketBeat's congres... Read the Full Story >> |
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Markets | | | Beyond Meat shares soared Tuesday as investors cheered better-than-expected fourth quarter revenue and a new, healthier burger that could help revive U.S. sales.The plant-based meat maker's stock jumped more than 78% in after-market trading.The El Segundo, California-based company said its revenue f... Read the Full Story >> |
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Markets | | | The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate Read the Full Story >> |
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Markets | | | American consumers are feeling less confident this month as concerns over a possible recession grew despite most recent data pointing to a healthy U.S. economy.The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 106.7 from a revised 110.9 in Janua... Read the Full Story >> |
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Markets | | | Macy's will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales.As part of the strategy, Macy's aims to upgrade its remaining 350 stores, with plans to add more s... Read the Full Story >> |
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