Good MorningNVIDIA reported another blowout quarter, sending its shares up by 10%, but the news did not support the broad market. The S&P 500 turned lower mid-day to retreat nearly 1.0% on renewed fear of inflation. Wednesday's read of the FOMC minutes revealed the Fed is unwilling to cut interest rates too soon as worries of persistent inflation linger. The risk is that Fed officials seem ready to increase rates should inflation continue to run hot—a move that could send the market into a tailspin.
The S&P is poised to fall and may enter a correction anytime. Thursday's move created a Bearish Engulfing Pattern that set a new high at the open, then moved lower to offset the previous six days of trading. There is now only a 50/50 chance for a single hike by September, and chances for two are slim before 2025, barring the US economy slipping into recession. Under these conditions, the market could easily move down to retest the recent lows near 4,990 before mid-June when the FOMC next meets and new lows are possible. Featured: The Overlooked Retirement Asset You Probably Don't Own (Crypto 101 Media) 
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Markets | | | After a spectacular 36.4% run in the fourth quarter of 2023 earnings, shares of PDD Holdings Inc. (NASDAQ: PDD) have changed a little as the company released its first quarter 2024 results. However, investors can lean on the run-up to the announcement for a sentiment check, which delivered a 43.5%... Read the Full Story >> |
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Markets | | | The retail sector was once characterized by predictable earnings seasons and long-established retail giants seemingly unshakeable in their dominance. However, the sector finds itself in a period of evolution with the rise of eCommerce. Electronic commerce has fundamentally reshaped the retail indu... Read the Full Story >> |
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Stocks | | | Nvidia's stock price has more than doubled this year as of the close of trading Thursday, increasing the company's market value by more than $1.3 trillion. Those numbers are headed higher again Thursday after the company reported better-than-expected quarterly results. The chipmaker has seen soaring... Read the Full Story >> |
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Markets | | | Shares of Medtronic (NYSE: MDT) are falling following its FQ4 release and guidance, opening up a potential buying opportunity. The question is whether its value, yield, balance sheet and cash flow are enough to keep investors interested and if they should be. The stock is a blue-chip operator in d... Read the Full Story >> |
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Markets | | | Williams-Sonoma’s (NYSE: WSM) stock price is heading to $500 for three reasons: its market, operations, and technical outlook. All else aside, the technical action has been robust for the last year and shows little signs of slowing. The latest earnings report has the market up to a new high,... Read the Full Story >> |
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Markets | | | Shares retreated in Europe and Asia on Friday after unexpectedly strong reports on the U.S. economy raised the possibility of interest rates staying painfully high. U.S. futures edged higher, while oil prices fell back. In early European trading, Germany's DAX lost 0.6% to 18,638.00, while the CAC 4... Read the Full Story >> |
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Markets | | | Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate getting more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine's state finances looks shakier.At the top of the agenda as finance officials fr... Read the Full Story >> |
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Markets | | | The short call butterfly spread is also referred to as a short butterfly with calls or a short call butterfly trade. This is an advanced options trading strategy used to capitalize on a medium to large underlying price move in either direction. This strategy is also conducive to volatile and trend... Read the Full Story >> |
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Markets | | | The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties Read the Full Story >> |
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Markets | | | With college sports on the verge of sweeping change that could have long-term financial implications, two private investment firms have created a platform to help athletic departments find funding.RedBird Capital and Weatherford Capital announced Wednesday the creation of Collegiate Athletic Solutio... Read the Full Story >> |
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Friday's Early Bird Stock Of The Day Red Rock Resorts, Inc., through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market. The company was formerly known as Station Casinos Corp. and changed its name to Red Rock Resorts, Inc. in January 2016. Red Rock Resorts, Inc. was founded in 1976 and is based in Las Vegas, Ne... | | View Today's Stock Pick |
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