News / Uncategorized
[Platinum insights] (5.17.23)
[Platinum insights] (5.17.23)
August 22, 2023
Good morning.
U.S. stock index futures edged higher on Wednesday as top lawmakers inched closer to a deal to avert a debt default. However, after an hour of talks yesterday, McCarthy told reporters the two sides remained far apart on an agreement.
Target Corp (TGT) on Wednesday forecast profit below Wall Street expectations and estimated a drop in sales for the second quarter. “Right now (the American consumer is) spending more due to inflation, saving less and delaying major purchases,” Chief Growth Officer Christina Hennington said in a media call. The company also said theft and organized crime could reduce this year’s profitability by more than $500 million compared to 2022.
Crude oil futures are slightly higher. Gold held below $2,000 while the yield on the US 10-year Treasury note rose past the 3.5% mark. Emerging market currencies hit a three-week low on Wednesday, as jitters around the U.S. debt ceiling boosted the dollar, while concerns about China’s slow economic recovery after a slew of downbeat data also weighed on sentiment.
Wall Street’s main indexes closed lower on Tuesday after weak results from Home Depot and a reading on U.S. April retail sales that missed expectations highlighted the impact of higher prices and interest rates on consumers. Market participants are now bracing for a range trade at the S&P 500 Index over the near-term, around the 3,800 to 4,200 levels, Morgan Stanley’s chief U.S. equity market strategist Michael Wilson said earlier this week.
Range trading also continues in the DJIA as the Nasdaq once again failed to close above the long-term resistance line.
Share this article:
More in Uncategorized:
Ultra Clean Holdings (UCTT) July 25, 2024, Earnings Call Summary
Future Price Projections Participants: Rhonda Bennetto – Senior Vice President, Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage...
[Platinum insights] (5.17.23)
July 26, 2024
APPLE, MICROSOFT, NVIDIA PRICE TARGET 🎯
Short term, price targets for the top three S&P 500 holdings
Short term, price targets for the top three S&P 500 holdings The following are my price targets for the very...
Trent Grinkmeyer
July 25, 2024
Nvidia's Stake in Serve Robotics: A Game-Changer for AI-Powered Delivery?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in Serve Robotics, a company specializing in autonomous sidewalk delivery robots. This revelation sent Serve's stock soaring an impressive 233% over two days. But what does this mean for the future of AI-powered delivery, and should investors jump on board?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in...
Trent Grinkmeyer
July 24, 2024
The Commercial Real Estate Crash
Its Ripple Effect on the Banking System and The Stock Market
The commercial real estate market is on the verge of a significant downturn, potentially mirroring the infamous 2008 financial crisis....
[Platinum insights] (5.17.23)
July 23, 2024
The Democratization of Compute
A Paradigm Shift in Business and Investment Artificial Intelligence (AI) is undeniably transformative, poised to revolutionize the world as we...
Kerry Grinkmeyer
July 23, 2024
Are Google and Meta Heading for a Stock Price Slump?
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major players. Today, I want to discuss two tech giants that have long been darlings of Wall Street: Google and Meta. While they've enjoyed impressive growth and dominance in their respective fields, there are signs that their stock prices might face some headwinds in the near future.
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major...
Trent Grinkmeyer
July 23, 2024