Futures on the Euro Stoxx 50 rose 0.7%, while in the United States, futures remained relatively static, with futures listed on the S&P 500 and Nasdaq 100 remaining unchanged. Nikkei futures rose by 0.3%, while Hong Kong’s Hang Seng slumped by 1.6%. The Shanghai Composite edged 0.2% higher.

Gold rose by 0.7% to hit a record value of $2,389.34 an ounce. As supply uncertainty rises due to Middle East tensions, with West Texas Intermediate crude rising by 0.8% to $85.69 per barrel. In cryptocurrencies, Bitcoin rose 0.6% to $70,940.49 while Ether was up 0.5% to $3,543.65.

The post European Stocks Rises as Gold Hits Fresh Record appeared first on theprimarymarket.com.

Zillow reported that in 2020, a household with an income of $59,000 per year could afford a home priced at around $240,815. This was less than the median income of $66,000. Now, households need an income of $106,000 in order to afford a median-priced home of $342,941.

“Incomes needed to purchase a home are just much, much higher than the typical household income,” Zillow chief economist Orphe Divounguy observed. Furthermore, mortgage rates for a typical US home have nearly doubled over the past four years.

The post Home Prices Surge By 42% Since 2020 appeared first on theprimarymarket.com.

The S&P 500 slipped by 0.3%, while the Dow Jones Industrial average fell by 0.2%. The tech-heavy Nasdaq Composite dropped by 0.6%, a marked difference from its record close during the previous session.

Both the S&P 500 and Nasdaq Composite have gained as much as 10% since the start of the year, with investors appearing to be cautiously awaiting the events that unfold during the shorter trading week given that markets will be closed for Good Friday. Investors are also tracking economic data as a means of gauging the Federal Reserve’s next moves with expectations of rate cuts later this year.

The post U.S. Stocks Pause as Boeing CEO Set to Depart appeared first on theprimarymarket.com.

The tech-heavy Nasdaq Composite jumped 0.8%, followed by the S&P 500 with a 0.6% gain. The Dow Jones Industrial Index edged 0.2% higher. This is a minor rebound following two weeks of losses following the release of hotter-than-expected inflation data.

Among the major movers was chipmaker Nvidia, which kicked off its annual developer conference on Monday. Google parent company Alphabet rose after reports arose of the company’s talks with Apple to integrate the Google Gemini AI engine into the iPhone.

The post Nasdaq Leads Stock Gains Ahead of Fed Policy Meeting appeared first on theprimarymarket.com.

Despite consumer prices remaining more sticky than expected, analysts expect that the latest CPI reading will not have a major influence on the Federal Reserve’s monetary policy and the timing of its prospective interest rate cuts. “Things are really where they should be at this point,” Oppenheimer chief investment strategist John Stoltzfus commented, expressing an indifference toward the rise in consumer prices in February.

Both Stoltzfus and chief economist for Manulife Frances Donald agreed that June appears to be a sound time for the U.S. central bank to introduce interest rate cuts. Still, expectations may be pushed back if economic data continues to show significant price increases.

The post Stubborn CPI Reading Unlikely to Affect Fed Rate Cuts appeared first on theprimarymarket.com.

Stocks on the tech-heavy Nasdaq Composite surged by 0.6%, thereby recovering from a sharp slide during the previous session. The S&P 500 advanced by 0.5%, while the Dow Jones Industrial Average posted a 0.2% gain. Among the biggest movers was the New York Community Bank. While the stocks initially declined following a report that the bank is searching for investors to purchase stock in the company, shares surged by 7% after the bank announced a $1 billion infusion in the company as well as a new CEO.

Despite significant gains for the Nasdaq Composite overall, several major tech stocks closed Wednesday in the red. EV giant Tesla lost ground, while Apple stocks fell for a sixth consecutive session.

The post Stocks Rebound Following Encouraging Fed Chair Testimony appeared first on theprimarymarket.com.

“The data came as a relief for those who were prepared for the worst,” noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Futures on the S&P 500 edged 0.1% higher, while those on the tech-heavy Nasdaq 100 gained 0.3%. Contracts listed on the Dow Jones Industrial Average remained little changed. Across the pond, the benchmark Stoxx Europe 600 index advanced by 0.5%, as did the MSCI Asia Pacific Index. The MSCI Emerging Markets Index gained 0.2%.

In Asia, the Japanese Nikkei 225 rose 1.9% to its strongest-ever close, edging close to the 40,000 mark. Bitcoin continued its recent rally, approaching the $62,000 mark amid rising demand from exchange-traded funds. BlackRock Inc.’s iShares Bitcoin Trust hit a record $612 million inflow.

The post Stocks Rise Following Relief Over Inflation Data appeared first on theprimarymarket.com.

Even with this data depleting investors’ hopes for an interest rate cut, the Fed remains adamant that it’s in no rush to lower borrowing costs as it will first look for evidence that inflation is retreating on a sustained basis. Still, Bloomberg Economics appears to be of the opinion that signs of returning inflation will not necessarily lead to monetary tightening either.

“The stage is set for monthly PCE inflation to jump following hot CPI and PPI reports. While that certainly won’t put the Fed at ease, we think policymakers will largely look through the January increase,” Bloomberg Economics wrote.

The post PCE Index Expected to Rise By Most in a Year appeared first on theprimarymarket.com.

In mid-December, a 5,100 close was predicted, with the target thus lifted by about 2% since. This is also a 3.9% jump from Friday’s close and a significant rise from the 4,700 set by Kostin’s team in November. “Increased profit estimates are the driver of the revision,” the team said of the adjustment in a note to clients.

The S&P 500 has risen by approximately 4.9% since the start of the year, with further increases expected amid expected interest rate cuts by the Federal Reserve and a projected artificial intelligence boom that is expected to lift tech stocks. Profits for companies listed in the index are expected to grow by 8.8% in 2024 compared to the previous year.

The post Goldman Sachs Lifts S&P 500 Target Amid Rising Performance appeared first on theprimarymarket.com.

Futures listed on the S&P 500 rose by 0.2% during premarket trading in New York, while those on the Nasdaq 100 advanced by 0.4%. Contracts listed on the Dow Jones Industrial Average edged higher by 0.1%. In Europe, the Stoxx 600 gained 0.1% while the MSCI World index remained relatively stagnant.

The dollar remained steady after its gains in the previous session, with the Bloomberg Dollar Spot index remaining unchanged. The euro was also little changed at $1.0702, while the greenback strengthened against the pound, with the British currency slipping 0.3% to $1.2557.

The post Stock Futures Rise Following CPI Inflation Data appeared first on theprimarymarket.com.

Futures on the Euro Stoxx 50 rose 0.7%, while in the United States, futures remained relatively static, with futures listed on the S&P 500 and Nasdaq 100 remaining unchanged. Nikkei futures rose by 0.3%, while Hong Kong’s Hang Seng slumped by 1.6%. The Shanghai Composite edged 0.2% higher.

Gold rose by 0.7% to hit a record value of $2,389.34 an ounce. As supply uncertainty rises due to Middle East tensions, with West Texas Intermediate crude rising by 0.8% to $85.69 per barrel. In cryptocurrencies, Bitcoin rose 0.6% to $70,940.49 while Ether was up 0.5% to $3,543.65.

The post European Stocks Rises as Gold Hits Fresh Record appeared first on theprimarymarket.com.

Zillow reported that in 2020, a household with an income of $59,000 per year could afford a home priced at around $240,815. This was less than the median income of $66,000. Now, households need an income of $106,000 in order to afford a median-priced home of $342,941.

“Incomes needed to purchase a home are just much, much higher than the typical household income,” Zillow chief economist Orphe Divounguy observed. Furthermore, mortgage rates for a typical US home have nearly doubled over the past four years.

The post Home Prices Surge By 42% Since 2020 appeared first on theprimarymarket.com.

The S&P 500 slipped by 0.3%, while the Dow Jones Industrial average fell by 0.2%. The tech-heavy Nasdaq Composite dropped by 0.6%, a marked difference from its record close during the previous session.

Both the S&P 500 and Nasdaq Composite have gained as much as 10% since the start of the year, with investors appearing to be cautiously awaiting the events that unfold during the shorter trading week given that markets will be closed for Good Friday. Investors are also tracking economic data as a means of gauging the Federal Reserve’s next moves with expectations of rate cuts later this year.

The post U.S. Stocks Pause as Boeing CEO Set to Depart appeared first on theprimarymarket.com.

The tech-heavy Nasdaq Composite jumped 0.8%, followed by the S&P 500 with a 0.6% gain. The Dow Jones Industrial Index edged 0.2% higher. This is a minor rebound following two weeks of losses following the release of hotter-than-expected inflation data.

Among the major movers was chipmaker Nvidia, which kicked off its annual developer conference on Monday. Google parent company Alphabet rose after reports arose of the company’s talks with Apple to integrate the Google Gemini AI engine into the iPhone.

The post Nasdaq Leads Stock Gains Ahead of Fed Policy Meeting appeared first on theprimarymarket.com.

Despite consumer prices remaining more sticky than expected, analysts expect that the latest CPI reading will not have a major influence on the Federal Reserve’s monetary policy and the timing of its prospective interest rate cuts. “Things are really where they should be at this point,” Oppenheimer chief investment strategist John Stoltzfus commented, expressing an indifference toward the rise in consumer prices in February.

Both Stoltzfus and chief economist for Manulife Frances Donald agreed that June appears to be a sound time for the U.S. central bank to introduce interest rate cuts. Still, expectations may be pushed back if economic data continues to show significant price increases.

The post Stubborn CPI Reading Unlikely to Affect Fed Rate Cuts appeared first on theprimarymarket.com.

Stocks on the tech-heavy Nasdaq Composite surged by 0.6%, thereby recovering from a sharp slide during the previous session. The S&P 500 advanced by 0.5%, while the Dow Jones Industrial Average posted a 0.2% gain. Among the biggest movers was the New York Community Bank. While the stocks initially declined following a report that the bank is searching for investors to purchase stock in the company, shares surged by 7% after the bank announced a $1 billion infusion in the company as well as a new CEO.

Despite significant gains for the Nasdaq Composite overall, several major tech stocks closed Wednesday in the red. EV giant Tesla lost ground, while Apple stocks fell for a sixth consecutive session.

The post Stocks Rebound Following Encouraging Fed Chair Testimony appeared first on theprimarymarket.com.

“The data came as a relief for those who were prepared for the worst,” noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Futures on the S&P 500 edged 0.1% higher, while those on the tech-heavy Nasdaq 100 gained 0.3%. Contracts listed on the Dow Jones Industrial Average remained little changed. Across the pond, the benchmark Stoxx Europe 600 index advanced by 0.5%, as did the MSCI Asia Pacific Index. The MSCI Emerging Markets Index gained 0.2%.

In Asia, the Japanese Nikkei 225 rose 1.9% to its strongest-ever close, edging close to the 40,000 mark. Bitcoin continued its recent rally, approaching the $62,000 mark amid rising demand from exchange-traded funds. BlackRock Inc.’s iShares Bitcoin Trust hit a record $612 million inflow.

The post Stocks Rise Following Relief Over Inflation Data appeared first on theprimarymarket.com.

Even with this data depleting investors’ hopes for an interest rate cut, the Fed remains adamant that it’s in no rush to lower borrowing costs as it will first look for evidence that inflation is retreating on a sustained basis. Still, Bloomberg Economics appears to be of the opinion that signs of returning inflation will not necessarily lead to monetary tightening either.

“The stage is set for monthly PCE inflation to jump following hot CPI and PPI reports. While that certainly won’t put the Fed at ease, we think policymakers will largely look through the January increase,” Bloomberg Economics wrote.

The post PCE Index Expected to Rise By Most in a Year appeared first on theprimarymarket.com.

In mid-December, a 5,100 close was predicted, with the target thus lifted by about 2% since. This is also a 3.9% jump from Friday’s close and a significant rise from the 4,700 set by Kostin’s team in November. “Increased profit estimates are the driver of the revision,” the team said of the adjustment in a note to clients.

The S&P 500 has risen by approximately 4.9% since the start of the year, with further increases expected amid expected interest rate cuts by the Federal Reserve and a projected artificial intelligence boom that is expected to lift tech stocks. Profits for companies listed in the index are expected to grow by 8.8% in 2024 compared to the previous year.

The post Goldman Sachs Lifts S&P 500 Target Amid Rising Performance appeared first on theprimarymarket.com.

Futures listed on the S&P 500 rose by 0.2% during premarket trading in New York, while those on the Nasdaq 100 advanced by 0.4%. Contracts listed on the Dow Jones Industrial Average edged higher by 0.1%. In Europe, the Stoxx 600 gained 0.1% while the MSCI World index remained relatively stagnant.

The dollar remained steady after its gains in the previous session, with the Bloomberg Dollar Spot index remaining unchanged. The euro was also little changed at $1.0702, while the greenback strengthened against the pound, with the British currency slipping 0.3% to $1.2557.

The post Stock Futures Rise Following CPI Inflation Data appeared first on theprimarymarket.com.