Churn continued on Wall Street Wednesday, with the S&P 500 gaining a little more than 0.5% to reclaim the week’s highs. The move came just before the December CPI figures were released and may lead to a new all-time high in their wake. The CPI data is due today and may come in cooler than expected. A cooler-than-expected read will shorten the time until the first FOMC interest rate cut but poses a bigger risk. Cooler-than-expected inflation may raise fears of deflation and recession, sapping appetite for risk-on assets like equities.
Earning season action will heat up tomorrow. The Big Banks, including JPMorgan Chase, will report earnings, and the news will move the market. Revenue and earnings are expected to be solid due to higher interest rates; the question is how the consumer fares. As it is, data suggests the US consumer is resilient in 2024 and will continue to buy, albeit price-consciously.
While it was one of the first stocks to reclaim an all-time high last year, Apple Inc (NASDAQ: AAPL) has found itself lagging the broader market in recent weeks. The divergence is rare and noteworthy as a result. To be sure, Apple stock experiences its fair share of down days, but these are usually in tandem with the rest of the market. However, when Apple shares started to soften in the week before Christmas, the benchmark S&P 500 index was inching upward towards a record close. Coming into this week, the gap was quite pronounced. Where the S&P 5…
Experts recommend adding gold to your portfolio, but in what form? Some savvy investors are now rejecting coins and mining stocks in favor of a unique gold investment alternative. It holds explosive growth potential similar to a junior gold stock — but with less risk exposure.
The Securities and Exchange Commission on Wednesday reluctantly approved the first exchange-traded funds that hold bitcoin, saying it is still deeply skeptical about cryptocurrencies and that its decision did not mean it approves or endorses bitcoin.The SEC said it gave the green light to 11 exchange-traded funds for bitcoin even though it only faced a deadline for one application. The agency said that would provide competition and a “level playing field.”Bitcoin ETFs could open the door to cryptocurrencies to many new investors who don’t want to take the extra steps involved in buying actual …
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