When U.S. government officials decide to take on a view for a particular stock, Main Street investors could benefit by trying to figure out where and why these people decide to invest. Today, there is a clear technology sector preference on the part of California representative Nancy Pelosi. Pelosi is now part of the ‘insider trading’ scandal after making a hefty profit on her Nvidia Co. (NASDAQ: NVDA) trades earlier this year. According to records, the government official made around $500,000 on her Nvidia trade, doubling her annual salary. While some may critique her potential access to privileged information, most miss out on the big picture. Her other – most recent – interests in stocks like Alphabet Inc. .
Equity markets continued the rebound in the prior week as hopes for a Fed rate cut were restored. A hotter-than-expected reading of initial jobless claims is to blame, but there is a caveat. A hotter-than-expected reading does not mean a hot read and the data is not hot. Jobless claims ticked up for the week in a seasonally expected move and remain within a healthy range. The FOMC is not likely to cut rates because of this data.
The week ahead brings many risks. The primary are inflation data and earnings from the retail sector. The inflation data is expected to moderate from the prior month but not enough to open the door for rate cuts this summer. At best, the data will cool enough to keep the FOMC on track for cuts this year but later in Q3. The risk is that inflation will not cool and reinvigorate fears the FOMC won't cut until next year. The bottom line is that this manic market is focused on every detail that may affect the Fed decision, and volatility is the only guarantee.
When U.S. government officials decide to take on a view for a particular stock, Main Street investors could benefit by trying to figure out where and why these people decide to invest. Today, there is a clear technology sector preference on the part of California representative Nancy Pelosi. Pelosi is now part of the ‘insider trading’ scandal after making a hefty profit on her Nvidia Co. (NASDAQ: NVDA) trades earlier this year. According to records, the government official made around $500,000 on her Nvidia trade, doubling her annual salary. While some may critique her potential access to privileged information, most miss out on the big picture. Her other – most recent – interests in stocks like Alphabet Inc.
Welcome to the financial rollercoaster of 2024, where inflation is persistent, stock markets are overinflated and volatile, global conflicts are intensifying, and the national debt is reaching new heights.
James "Jim" Simons, a renowned mathematician and pioneering investor who built a fortune on Wall Street and then became one of the nation's biggest philanthropists, has died at age 86.The charitable foundation that Simons co-founded with his wife, Marilyn, announced that Simons died Friday in New York. No cause of death was given."Jim was an exceptional leader who did transformative work in mathematics and developed a world-leading investment company," Simons Foundation President David Spergel said in a post on the foundation's website. "Together with Marilyn Simons, the current Simons Foundat...
Savvy stock investors often look for bargains using the Relative Strength Index (RSI). This technical tool evaluates a stock's performance over the last 14 days and assigns a value from 0 to 100. Compared to many other technical indicators out there, the RSI is easy to read: anything above 70 suggests a stock may be overbought, while one below 30 indicates oversold conditions. The more extreme the reading, the stronger the underlying conviction. The past week has seen a strong rebound across equities. After a little wobble during the first half, investors were getting nervous. This uptick, reflecting a revived risk-on sentiment in the face of stubborn inflation readings, is drawing investors back. But not all stocks are rallying -- at least not yet.
New York's legal cannabis market has been hampered by inexperienced leaders who treated the state licensing agency like a "mission-driven" startup rather than a government office, according to an internal review
Plug Power Inc. (NASDAQ: PLUG) is a prominent green energy hydrogen ecosystem player. Plug Power’s earnings report for the first quarter of 2024 was released, offering valuable insights into the company's performance and strategic direction. Plug Power’s financial report revealed mixed results, with revenue falling short of the Plug Power’s analyst community’s expectations and losses widening. The report also highlighted significant advancements in Plug Power's hydrogen infrastructure and strategic initiatives. Plug Power’s Q1 Results Plug Power's earnings report for Q1 2024 presented a complex picture, reflecting the challenges and opportunities inherent in the volatile and growing renewable energy sector.
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New York's legal cannabis market has been hampered by inexperienced leaders who treated the agency like a "mission-driven" startup rather than a government office, according to an internal review released Friday.The report detailed several problems at the state Office of Cannabis Management, including constantly shifting licensing rules, poor transparency and an absence of enforcement mechanisms, all of which have stalled the legal market and allowed illicit storefronts to flourish.Gov. Kathy Hochul, who has called the state's program a "disaster," ordered the comprehensive review in March, ho...
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