The S&P 500 was steady on the first trading day of the week. The index held at all-time highs and is tracking to set a new high soon. The latest inflation data has the market hoping the first interest rate cuts will come later this year, and more evidence is expected to come out on Wednesday. Wednesday brings the latest Fed meeting minutes, and they may confirm that the next policy move is to lower rates if not the timing of the first cut. As it is, the odds are high that the first cut will come by September, and there may be two twenty-five basis point cuts by the end of the year.
With the S&P 500 at a new all-time high and the market still believing a rate cut is coming this year, the index will likely trend higher into the summer. The timing for the next major turning point aligns with the June FOMC meeting, which is about 30 days away. In this scenario, the S&P 500 could rise to 5,500 or higher by then. If the FOMC gives the market what it wants, the S&P 500 could hit 6,000 before the end of the year.
Investors need to consider some of the world’s most critical trends if they want to expose their portfolios to global growth. Some of these current trends are electric vehicles (EVs) and artificial intelligence components, which go beyond semiconductor and technology stocks. These vital industries are helping the world move forward. However, with new players popping up nearly every day, many investors follow the hype behind these industries relatively blindly. But trying to pick the winner among dozens of potential companies or spreading your eggs across many baskets, hoping for one to win, is akin to venture capital investing.
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Ivan F. Boesky, the flamboyant stock trader whose cooperation with the government cracked open one of the largest insider trading scandals in the history of Wall Street, has died at the age of 87. A representative at the Marianne Boesky Gallery, owned by Ivan Boesky’s daughter, confirmed his death. No other details were given. The son of a Detroit delicatessen owner, Boesky was once considered one of the richest and most influential risk-takers on Wall Street. He had parlayed $700,000 from his late mother-in-law’s estate into a fortune estimated at more than $200 million, hurtling him into the ranks of Forbes magazine’s list of the 400 richest Americans.Once implicated in insider trading, Boesky cooperated with a brash young U.S.
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