May's Must-See Financial Events: Fed Interest Rate Decision, Apple and Nvidia Earnings, Berkshire's Annual Meeting
The second quarter kicked off with a challenging start for US stocks. Reduced expectations for rate cuts, soaring US Treasury yields, and frequent geopolitical conflicts have caused a series of negative disruptions that made things difficult. The $S&P 500 Index(.SPX.US$ dropped nearly 3% in April, ending its five-month winning streak. However, there were positive signs as investor optimism regarding $Tesla(TSLA.US$'s outlook continued, and strong performances from $Alphabet-A(GOOGL.US$ and $Microsoft(MSFT.US$ helped to revive the technology sector. By the end of April, the market had breathed a sigh of relief as earnings reports overshadowed rate panic brought on by inflation indicators.
Last Friday's release of the US Federal Reserve's preferred inflation indicator, the core PCE price index, showed a higher-than-expected year-over-year growth rate of 2.82% in March, indicating that inflation progress appeared to be stagnating. Fed Chairman Powell's recent hawkish comments have further diminished market confidence in rate cuts this year. Investors are now trying to glean more clues on rate cuts from this Thursday's FOMC meeting. Additionally, April's non-farm payrolls, CPI, PPI, PCE data, and FOMC meeting minutes are all closely watched.
On the corporate front, the tech giant $Apple(AAPL.US$ is scheduled to release its Q2 FY2024 earnings report on May 2nd, and investors are eagerly anticipating whether it will provide the much-needed boost to the company's stock, which has experienced a 10% dip this year. Another highly anticipated earnings report of AI darling $NVIDIA(NVDA.US$ is set to be released on May 22nd. As per the Bloomberg consensus, Nvidia is expected to report its highest ever quarterly revenue of $24.12B, with an estimated EPS of $5.25.
Furthermore, the annual $Berkshire Hathaway-A(BRK.A.US$ shareholder meeting will open on May 4th, where global investors will converge in Omaha. Market attention is focused on where the company's massive cash reserve will be invested, Buffett's outlook and further actions in the Japanese market, as well as discussions on the US macroeconomy.
Check out key events in May here：
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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103353263 : Powell again,the man who can change the stock market
Tonyco : Yeah... please let more geriatric lead-addled boomers decide our fates. They've done a bang up job so far. If you are a 1%er anyway. For the rest of us, another 5 years of suffering.
DaytradeSwing Tonyco: Crying about boomers from behind a screen a boomer made for you.
Pathetic human you are 🫵
151477963 : Help me to make money
Saifkabit Saidkbit : SAIFKABIR
R30R Tonyco: While I cannot comment on the specifics of the decision (perhaps well intended for the economy), I believe a little more calm in his tone and his other Fed clans may also easy the panic. There is just so much sensationalism in their tone that I’m sure it is contributing to 20% -30% of the panic and market fear.
placid Leopard_3817 : Only the elderly decide the future in America
Kind Pumpkin : anyone waiting for interest rate cut?