The benchmark S&P 500 edged 0.1% higher, while the tech-heavy Nasdaq Composite rose by about 0.2%. The Dow Jones Industrial Average slipped lower by 0.1%.

Powell spoke at Stanford University on Wednesday, explaining that while inflation is on a “bumpy” pathway toward the Fed’s 2% target, the central bank is nevertheless set to introduce rate cuts. While stocks enjoyed a rampant rally to start the year, they entered the red last week following a dent in consumer confidence. The S&P 500 has gained almost 10% for the year to date.

The post Stocks Edge Higher as Fed Chair Confirms Rate Cuts Ahead appeared first on theprimarymarket.com.

March jobs data, set to be released later this week is expected to show that employment has continued to rise this past month. While Powell is expected to provide more insight in Wednesday’s speech, he previously mentioned that Fed policymakers are awaiting further evidence to suggest that prices are being contained before introducing interest rate cuts.

Oil edged towards a five-month high as Middle East tension continues and Mexican supplies remain tight. West Texas Intermediate rose 0.6% to $84.25 per barrel. Spot gold traded 0.2% higher at $2,255.31 an ounce.

The post U.S. Futures Idle as Investors Assess Federal Reserve Outlook appeared first on theprimarymarket.com.

Core prices rose by 0.3% from January to February, thereby falling in line with expectations and decreasing from the 0.5% rise in January compared to the previous month. While Fed Governor Chris Waller stated that a few more months of positive data will be needed to convince the Fed to cut its rates, some economists are confident that the central bank will introduce rate cuts if data continues down this path.

“By the time the Fed meets in June, the data should be convincing enough for them to commence its rate normalization process. But where we sit today, markets need to have the same patience the Fed is exhibiting.” LPL Financial chief economist Jeffrey Roach reflected.

The post PCE Report Could Convince Federal Reserve to Cut Rates in June appeared first on theprimarymarket.com.

The benchmark S&P 500 rose 0.3%, closing at a new record high of 5,241. The tech-heavy Nasdaq Composite ended the session 0.2% higher, while the Dow Jones Industrial Average gained roughly 270 points to approach the 40,000-point mark; a 0.7% increase.

With the next Federal Reserve policy meeting scheduled for six weeks’ time, markets’ focus will shift to other factors in order to dictate the trajectory of stocks. These include developments in AI, which largely drive tech stocks, as well as other economic data including the Consumer Price Index (CPI), Personal Consumption Expenditures (PCE), and the U.S. jobs reports.

The post U.S. Stocks Continue Record Run appeared first on theprimarymarket.com.

This development had a significant effect on investor confidence, driving futures on the benchmark S&P 500 up by 0.4%. Futures on the Nasdaq 100 rose by as much as 0.8%, while contracts listed on the Dow Jones Industrial Average gained 0.3%. Across the Atlantic, the Stoxx Europe 600 advanced by 0.9%, while the MSCI Asia Pacific Index surged 2% higher.

“The Fed appears to have achieved a better balance around its dual mandate of price stability and maximum employment,” Banco Bilbao Vizcaya Argentaria analysts told clients in a written note. They added their expectation that the central bank would normalize its policy stance by June.

The post Fed Sticks to Rate Cut Agenda, Sending Stocks Higher appeared first on theprimarymarket.com.

Following the influx of the latest round of economic data, the Fed has shifted its economic projections, which have involved a reduction in interest rate cuts for 2024 from three to two or a delay in the start of the rate-cutting agenda in June.

Due to mixed signals, investors have apparently become unsure of the Fed’s outlook, Mathieu Savary, Chief European Strategist at BCA Research observed. “The market is completely indecisive on the number of Fed rate cuts,” Savary explained, calling it “a complete coin toss” between two and three rate cuts.

The post Dollar Rises for Fifth Straight Session 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.

Fed Chair Jerome Powell revealed that the U.S. central bank appears to be gaining the confidence to introduce interest rate cuts following the release of optimistic economic data. “The Fed may have less confidence on inflation than before, but it still has confidence in the disinflation trend,” Bank of America economists observed.

With attention remaining firmly on the US Federal Reserve, the Bank of Japan is also set to convene this week. It’s largely expected to bring an end to its negative-rate policy on Tuesday. The Bank of England is set to release its own interest rate policy decision later in the week as well.

The post U.S. Stocks Rise Ahead of Fed Rate Decision 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 benchmark S&P 500 edged 0.1% higher, while the tech-heavy Nasdaq Composite rose by about 0.2%. The Dow Jones Industrial Average slipped lower by 0.1%.

Powell spoke at Stanford University on Wednesday, explaining that while inflation is on a “bumpy” pathway toward the Fed’s 2% target, the central bank is nevertheless set to introduce rate cuts. While stocks enjoyed a rampant rally to start the year, they entered the red last week following a dent in consumer confidence. The S&P 500 has gained almost 10% for the year to date.

The post Stocks Edge Higher as Fed Chair Confirms Rate Cuts Ahead appeared first on theprimarymarket.com.

March jobs data, set to be released later this week is expected to show that employment has continued to rise this past month. While Powell is expected to provide more insight in Wednesday’s speech, he previously mentioned that Fed policymakers are awaiting further evidence to suggest that prices are being contained before introducing interest rate cuts.

Oil edged towards a five-month high as Middle East tension continues and Mexican supplies remain tight. West Texas Intermediate rose 0.6% to $84.25 per barrel. Spot gold traded 0.2% higher at $2,255.31 an ounce.

The post U.S. Futures Idle as Investors Assess Federal Reserve Outlook appeared first on theprimarymarket.com.

Core prices rose by 0.3% from January to February, thereby falling in line with expectations and decreasing from the 0.5% rise in January compared to the previous month. While Fed Governor Chris Waller stated that a few more months of positive data will be needed to convince the Fed to cut its rates, some economists are confident that the central bank will introduce rate cuts if data continues down this path.

“By the time the Fed meets in June, the data should be convincing enough for them to commence its rate normalization process. But where we sit today, markets need to have the same patience the Fed is exhibiting.” LPL Financial chief economist Jeffrey Roach reflected.

The post PCE Report Could Convince Federal Reserve to Cut Rates in June appeared first on theprimarymarket.com.

The benchmark S&P 500 rose 0.3%, closing at a new record high of 5,241. The tech-heavy Nasdaq Composite ended the session 0.2% higher, while the Dow Jones Industrial Average gained roughly 270 points to approach the 40,000-point mark; a 0.7% increase.

With the next Federal Reserve policy meeting scheduled for six weeks’ time, markets’ focus will shift to other factors in order to dictate the trajectory of stocks. These include developments in AI, which largely drive tech stocks, as well as other economic data including the Consumer Price Index (CPI), Personal Consumption Expenditures (PCE), and the U.S. jobs reports.

The post U.S. Stocks Continue Record Run appeared first on theprimarymarket.com.

This development had a significant effect on investor confidence, driving futures on the benchmark S&P 500 up by 0.4%. Futures on the Nasdaq 100 rose by as much as 0.8%, while contracts listed on the Dow Jones Industrial Average gained 0.3%. Across the Atlantic, the Stoxx Europe 600 advanced by 0.9%, while the MSCI Asia Pacific Index surged 2% higher.

“The Fed appears to have achieved a better balance around its dual mandate of price stability and maximum employment,” Banco Bilbao Vizcaya Argentaria analysts told clients in a written note. They added their expectation that the central bank would normalize its policy stance by June.

The post Fed Sticks to Rate Cut Agenda, Sending Stocks Higher appeared first on theprimarymarket.com.

Following the influx of the latest round of economic data, the Fed has shifted its economic projections, which have involved a reduction in interest rate cuts for 2024 from three to two or a delay in the start of the rate-cutting agenda in June.

Due to mixed signals, investors have apparently become unsure of the Fed’s outlook, Mathieu Savary, Chief European Strategist at BCA Research observed. “The market is completely indecisive on the number of Fed rate cuts,” Savary explained, calling it “a complete coin toss” between two and three rate cuts.

The post Dollar Rises for Fifth Straight Session 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.

Fed Chair Jerome Powell revealed that the U.S. central bank appears to be gaining the confidence to introduce interest rate cuts following the release of optimistic economic data. “The Fed may have less confidence on inflation than before, but it still has confidence in the disinflation trend,” Bank of America economists observed.

With attention remaining firmly on the US Federal Reserve, the Bank of Japan is also set to convene this week. It’s largely expected to bring an end to its negative-rate policy on Tuesday. The Bank of England is set to release its own interest rate policy decision later in the week as well.

The post U.S. Stocks Rise Ahead of Fed Rate Decision 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.