Close Menu
Marketing

Stock prices rise as the Fed expects the rise to continue

HustlersDailyPay StaffBy No Comments7 Mins Read


Stocks rose on Monday as Wall Street looked set to capitalize on a weekend rally sparked by a weaker-than-expected jobs report, spurring bets that the U.S. Federal Reserve will cut interest rates early. Stock prices rose.

The S&P 500 (^GSPC) rose 0.6%, and the tech-heavy Nasdaq Composite Index (^IXIC) rose 0.7%. The Dow Jones Industrial Average (^DJI) rose about 0.2%.

Stocks rebounded over the weekend, buoyed by a “Goldilocks” jobs report that balanced out some welcome news for both the market and the Fed. More than two-thirds of bets are now on the Fed's September interest rate cut, according to the CME FedWatch tool. Most traders now expect at least two rate cuts by the end of the year.

The return of Fedspeak this week could swing those bets, as Fed officials are free to speak but are emerging from a pre-meeting blackout.

New York Fed President John Williams said Monday that officials will base their decision to cut interest rates on a more comprehensive set of data as they become available. Williams said there will eventually be a rate cut.

Also on Monday, Richmond Fed President Thomas Barkin expressed optimism that inflation would fall to 2%, saying “the full impact of the rate hikes is not yet felt.” Neel Kashkari of Minneapolis is scheduled to speak Tuesday.

In corporate news, Disney (DIS) will be in the spotlight this week as earnings season comes to a close. The company's stock price has increased about 25% since the beginning of the year. Meanwhile, Apple (AAPL) shares rose 6% after Friday's earnings after Berkshire Hathaway CEO Warren Buffett revealed over the weekend that the company had reduced its holdings in the iPhone maker. After rising, it fell by about 0.5%.

live7 updates

  • Current interest rates should be enough to reduce inflation: Fed's Barkin

    Yahoo Finance's Jennifer Schonberger reports:

    Richmond Fed President Tom Barkin said Monday he is optimistic that current interest rates will eventually be enough to reduce inflation and that the Fed can afford to be patient, citing a strong job market. Ta.

    “The recent data flogging just confirms the value of what the Fed is doing on purpose,” Barkin said in a speech at the Columbia Rotary Club in South Carolina.

    “The economy is moving towards a better balance, but no one wants inflation to flare up again.”

    Mr Barkin's comments came after inflation showed no progress in the first three months of this year after falling steadily in the second half of last year.

    Please see here for the detail.

  • Boeing counts down to Starliner's first manned ISS flight

    Boeing (BA) stock rises more than 1% as the first launch of astronauts to NASA's International Space Station is scheduled for Monday night at 10:34 p.m. ET, sending the industrial giant's shares up more than 1%. did.

    If the flight is successful, it could pave the way for NASA to allow Boeing to make regular flights to the ISS. Boeing's Starliner program has faced a series of setbacks and delays over the years. The Starliner space capsule failed to reach the ISS in 2019.

    Monday's milestone comes amid an ongoing safety controversy and a leadership change at Boeing.

  • monday trend ticker

    Palantir Technologies (PLTR)

    Palantir stock rose more than 6% Monday morning and took the No. 1 spot on Yahoo Finance's trend ticker page for the software developer's first-quarter results, which are released after the market closes. Analysts will be paying close attention to the company's performance in the Artificial Intelligence Platform (AIP) sector.

    Tyson Foods (TSN)

    Tyson Foods Inc. stock fell on Monday despite reporting better-than-expected second-quarter profits. Although the company beat sales expectations, it fell short of net sales due to weak consumer spending and problems stemming from the company's chicken production business.

    Disney (DIS)

    Disney is scheduled to release its quarterly results before the market opens on Tuesday. The print will be the media conglomerate's first published outcome since winning its proxy battle with Nelson Peltz last month. Investors will be watching Disney's trends in streaming service subscriber growth, park attendance and summer box office revenue.

  • Robinhood faces new legal threat from SEC as cryptocurrency crackdown continues

    Yahoo Finance's David Hollerith reports:

    Robinhood (HOOD) announced that it has received a warning from the Securities and Exchange Commission that the trading platform may face enforcement action related to its crypto operations in the United States.

    The so-called “Wells Notice” that Robinhood received on May 4 states that SEC staff has issued a “preliminary determination” recommending action for violations of its registration as a securities broker and transfer agent. Ta.

    However, the company's stock rose more than 1% in early Monday trading after falling as much as 7% in the premarket open.

    In its disclosure, Robinhood warned that potential action from the SEC could mean civil charges and public trials, which could ultimately lead to fines, cease-and-desist orders, and other restrictions on its crypto activities.

    The SEC is going after a number of companies that allow U.S. customers to trade cryptocurrencies as part of a broader crackdown on the industry. Please see here for the detail.

  • Energy stocks lead the rally as oil prices rise

    Energy stocks rose on Monday as crude oil prices edged higher. The S&P 500 Energy Sector Select ETF (XLE) rose more than 1%, leading the overall market rally.

    Oil futures rose on renewed geopolitical tensions and after Saudi Aramco raised prices for Asian customers, signaling supply shortages.

    West Texas Intermediate (CL=F) rose less than 1% and hovered above $78 a barrel. The international standard price, Brent price (BZ=F), also rose, trading above $83 per barrel.

    Oil prices fell by more than 6% last week amid diplomatic efforts to reach a ceasefire between Hamas and Israel. By Monday, the outlook had darkened.

    “I think we've seen a major liquidation of the oil market by hedge funds,'' said Dennis Kistler, senior vice president at BOK Financial. “I think we've seen a major liquidation of the oil market by hedge funds, so any renewed geopolitical concerns could potentially increase purchasing power even further.'' Yes,” he said in a note. Customers on Monday.

  • Stock prices rise slightly on expectations that the Fed will cut interest rates this year

    Stocks opened higher on Monday as Wall Street looked set to continue Friday's market rally on expectations that the Federal Reserve will cut interest rates this year amid a softening job market.

    The S&P 500 (^GSPC) rose 0.4%, and the tech-heavy Nasdaq Composite Index (^IXIC) rose 0.3%. The Dow Jones Industrial Average (^DJI) rose more than 0.4%.

    In corporate news, Disney (DIS) is scheduled to announce quarterly results this week as the earnings season begins to wind down.

    Apple (AAPL) stock edged lower on Monday after Berkshire Hathaway CEO Warren Buffett revealed over the weekend that Apple (AAPL) had reduced its holdings in the iPhone maker. It started lowering. Apple shares rose more than 6% on Friday after the company's quarterly results and historic share buyback announcement.

    Robinhood (HOOD) has revealed that it has received a “Wells Notice” from the Securities and Exchange Commission (SEC) notifying trading platforms of potential securities violations related to crypto trading.

  • Monday's Easy Earnings Primer

    Here's a look at the top companies reporting earnings today, via the Yahoo Finance Morning Brief newsletter (sign up here).

    After closing



Source link

Digital entrepreneur, marketing storyteller and adventure seeker. Living my story means turning passion into a profession and dreams into plans. I'm the CEO of my own life.

Related Posts

Add A Comment
Leave A Reply