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Jobless Claims Forecast to Decline From High Levels of Previous Week
Economists surveyed by FactSet forecast that 235,500 initial unemployment claims were filed for the week ended June 15. That would reflect a decrease from the previous week's 242,000, the highest level in 10 months.
Vanguard Says US Tech 'Euphoria' Can Break One or Two Ways
Joe Davis, chief economist and global head of investment strategy at Vanguard, says the valuation gap between tech and other stocks will narrow in the coming years. "I think we can see some modest deceleration in the tech sector, at some point it has to come," Davis says on Bloomberg Television. "But if the economy holds up, I think other parts of the market could catch up and I think that would be good news."
Goldman Sachs: It has indeed been a long time since the last adjustment, but the US stock market is not expensive.
Goldman Sachs pointed out that the last time the S&P 500 index fell by more than 2% in a single day was in December 2022. Since then, the US stock market has been on an overall upward trend and has continued for 376 days. Moreover, the US stock market is not currently in an 'overvalued' state, with the P/E ratio of the top 10 market cap stocks in the S&P 500 index being about 30 times, compared to about 47 times during the peak of the 2000 internet-related bubble.
No Stopping S&P 500's Record Rally as Nvidia Beats Microsoft| Wall Street Today
There's no stopping the S&P 500's record rally. As usual, the benchmark got a boost from Nvidia, which bumped off Microsoft as the world's most valuable company.
S&P 500 Notches Fresh Record as Nvidia Unseats Microsoft as Top Stock
The S&P 500 notched another intra-day record, as semiconductors continued to hog the limelight, with Nvidia bumping off Microsoft as the world's most valuable company.
Stock Market Today: S&P 500, Nasdaq Notch Records as Nvidia Takes Crown From Microsoft as Most Valuable Stock
US stocks notched new record highs on Tuesday, continuing a furious AI-driven rally as Nvidia (NVDA) surpassed Microsoft (MSFT) to become the most valuable public company.
Fed Watch: FOMC Officials Reiterate Patience, Data Dependence, Before Cutting Rates
Fed Governor Adriana Kugler (voter) said that it is possible that the FOMC could cut rates later in 2024 but said that currently inflation is too high and that further evidence that the recent improve
Fed's Kugler Sees Rate Cut This Year and Says Economy Is 'Moving in Right Direction'
Federal Reserve Gov. Adriana Kugler on Tuesday said "it will likely become appropriate" to cut U.S. interest rates later this year if the economy continues to slow and inflation wanes as she expects.
Fed's Kugler Offers Four Reasons for Hope on Inflation -- WSJ
By Nick Timiraos Federal Reserve governor Adriana Kugler said she continued to anticipate it would be appropriate for the central bank to lower interest rates this year. Kugler offered four reasons
Fed's Collins Says Process of Lowering Inflation May Take Longer Than Expected
While recent inflation data has been "encouraging," the process of lowering inflation may take longer than expected, Boston Federal Reserve Bank President Susan Collins said Tuesday at the 2024 Annual
Nvidia executives cashed out more than $700 million! But unable to resist the long bull market of the most important stock on Earth.
Nvidia executives have reduced their shareholding by as much as USD 700 million since the beginning of this year, with more than one-third of the internal sales occurring after Nvidia's unparalleled performance announcement in May.
S&P 500 and Nasdaq Composite Push Deeper Into Record Territory
Stocks rose slightly Tuesday morning.
Express News | US May Retail Sales MoM 0.1% vs 0.2% Forecast, Prior 0%
2024 Half-Year Recap | Top Performing Sectors & Stocks
The information technology sector led all major sectors with a cumulative gain of 28%, followed closely by the communications services sector, which saw nearly a 25% increase.
Bid from foreign investors pushed South Korea's stock market to a more than two-year high.
South Korea's stock market closed at a two-year high on Tuesday, with foreign investors buying local blue-chip stocks after Wall Street's technology stocks led the way. The Korean won also slightly appreciated against the US dollar. On the same day, the KOSPI, South Korea's benchmark stock index, rose 19.82 points, or 0.72%, to close at 2,763.92 points, reaching a new high since February 20, 2022. The volume for the day was 552 million shares, worth KRW 13 trillion, with 497 stocks falling and 376 stocks rising. Foreign investors net bought KRW 639 billion worth of stocks that day, driving the stock market up and offsetting individuals.
US Stock Futures Edge Higher; Retail Sales Release Looms
The S&P 500 closed at another record high on Tuesday as Nvidia rallied to usurp Microsoft (NASDAQ:MSFT) as the most valuable company, pushing the broader tech sector higher and overshadowing economic data pointing to a more wary U.S. consumer.
Retail-Sales Forecast Clouded by Inflation, Mixed Economic Data
May's retail sales report could indicate if inflation is curbing spending, or if the resilience consumers have shown -- surprising in its yearslong endurance -- will continue into the summer months.
Wall Street analyst releases super bullish forecast: Dow Jones to break 100,000 points within a decade.
According to a chief investor's prediction, a powerful combination of profit growth and interest rate cuts will become a "turbocharger" for stock prices, pushing the Dow Jones Industrial Average beyond 100,000 points. James Demmert, chief investment officer of Main Street Research, said he has set himself a timeline of seven to nine years for his super bullish forecast. "The main message we give to investors is to continue to focus on the fact that profitability and Fed policy are driving the stock market, both of which are very favorable because stock valuations are relatively cheap compared to expected profits," Demmert said in a letter.
Case for Fed to Cut in September: Rosner
Lindsay Rosner, Head of Multi-Sector Investing at Goldman Sachs Asset Management, says there is a case for the Federal Reserve to cut in September. She also sees elections, like those in France, to bring volatility to risk assets.
Apple, Microsoft Push S&P 500, Nasdaq to New Highs | Wall Street Today
The S&P 500 and Nasdaq resumed their rally to fresh all-time highs, buoyed by gains in tech giants Apple and Microsoft.