Good MorningEquity markets continued to rebound on Tuesday and may continue higher over the next two days. The market was oversold and ready for a relief rally but faces many obstacles. Among them is the first read on Q1 GDP and the March PCE price data, which are not expected to align with the outlook for FOMC interest rate cuts. At best, consumer inflation will be cooler than expected, but the news will be too little and too late to ensure a cut by the next meeting.
The S&P 500 gained more than 1.0% at the session's close. The move has it above support targets at 5,000 but still below critical resistance at the 30-day EMA. Investors should expect volatility, if not downward trending price action until that situation changes. If the PCE data is hotter than expected, it could lead the market into a much deeper correction that retests lows set in 2023. Featured: The #1 Investment of the Decade… (Porter & Company) 
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Markets | | | The first quarter of the 2024 earnings season has kicked off. This quarter is typically regarded as giving investors the initial pulse of the economy for the rest of the year. It could also be the time for the manufacturing sector to shine. After reporting its quarterly earnings, shares of Crane (... Read the Full Story >> |
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Markets | | | Even a year of uncertainty and higher-than-average inflation rates posed no match for the U.S. consumer. Shares of Spotify Technology (NYSE: SPOT) rallied by more than 11% to end Tuesday's trading session on April 23. The bull run came from the company's first quarter 2024 earnings announcement.&n... Read the Full Story >> |
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Stocks | | | Asian shares rose on Wednesday, led by an 2% gain in Japan's Nikkei 225 after U.S. stocks rallied for a second straight day Tuesday, blunting the blow from what's been a rough April.U.S. futures rose while oil prices edged lower.Japan's benchmark Nikkei 225 jumped 2.1% in morning trading to 38,337.2... Read the Full Story >> |
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Markets | | | World shares advanced Wednesday, led by a 2.4% rally for Tokyo's benchmark Nikkei 225 index that was powered by strong gains for semiconductor makers.European markets opened higher. Germany's DAX was up 0.4% to 18,200.49 and the CAC 40 in Paris edged less than 0.1% higher to 8,109.21. In London, the... Read the Full Story >> |
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Markets | | | Duolingo Inc. (NYSE: DUOL) offers a freemium language learning platform that's taken the world by storm. It uses an incredibly simple, animated and gamified interface for kids and adults to engage in a cheerful, entertaining and inviting way to learn new languages. It uses little bite-sized, unint... Read the Full Story >> |
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Markets | | | California lawmakers on Monday rejected a proposal aimed at cracking down on how some of the nation's largest utilities spend customers' money.California's investor-owned utilities can't use money from customers to pay for things like advertising their brand or lobbying for legislation. Instead, the... Read the Full Story >> |
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Markets | | | Packaging Corporation of America (NYSE: PKG) had a solid quarter but gave tepid guidance, sending the shares down by 4%. The move is ugly at face value, but, as they say, it's in the eye of the beholder. Investors could view the decline as a loss, a time to sell, or a reason to stay out of the mar... Read the Full Story >> |
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Tech | | | UnitedHealth says files with personal information that could cover a "substantial portion of people in America" may have been taken in the cyberattack earlier this year on its Change Healthcare business.The company said Monday after markets closed that it sees no signs that doctor charts or full med... Read the Full Story >> |
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Markets | | | PepsiCo reported better-than-expected revenue in the first quarter on strong international demand for its snacks and beverages.The Purchase, New York-based company said revenue rose 2% to $18.3 billion for the January-April period. That was higher than the $18 billion Wall Street forecast, according... Read the Full Story >> |
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Markets | | | If United Parcel Service (NYSE: UPS) can be used as a leading indicator of the economy and S&P 500 performance, it sends a mixed signal. On the one hand, operational improvements and increased efficiency set UPS up for leverage growth when its business rebounds. On the other, business conditio... Read the Full Story >> |
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Wednesday's Early Bird Stock Of The Day Companhia de Saneamento Básico do Estado de São Paulo SABESP provides basic and environmental sanitation services in the São Paulo State, Brazil. The company supplies treated water and sewage services to residential, commercial, and industrial private customers, as well as public. As of December 31, 2022, it provided water services through 10.1 million water connections; and sewage services through 8.6 million sewage connections in 375 municipalities of the São Paulo State. The company was foun... | | View Today's Stock Pick |
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