Straits Times Index
3,292.69 +10.64 (+0.32%) S&P 500
5,099.19 -16.98 (-0.33%) Dow
38,230.15 -155.94 (-0.41%) Nasdaq
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1,306.50 -32.56 (-2.43%)
S&P 500 (^GSPC)
| Previous close | 5,116.17 |
| Open | 5,103.78 |
| Volume |
| Day's range | 5,096.47 - 5,110.83 |
| 52-week range | 4,048.28 - 5,264.85 |
| Avg. volume | 4,043,988,064 |
- Yahoo Finance Video
Powell's not doing 'any favors' by hinting at cuts: Strategist
The FOMC kicked off its highly anticipated two-day meeting on Tuesday, with markets eagerly awaiting the interest rate decision. Federal Reserve Chair Jerome Powell is set to announce the committee's verdict on Wednesday, with investors hoping for a rate cut to alleviate inflationary pressures. In the lead-up to the FOMC meeting, John Hancock Investment Management's Co-Chief Investment Strategist Matt Miskin joins the Morning Brief to share his insight into the Fed rate cut outlook. Miskin acknowledges that inflationary pressures have "spooked the markets," predicting that the Fed will adopt a "more hawkish" stance. He advises investors to reduce their risk exposure, citing the Fed's role in allowing "this inflation problem to reemerge." As the Fed continues to hint at the possibility of rate cuts materializing in 2024, Miskin suggests that when Fed Chair Powell delivers the decision on Wednesday, he "should say there will be a big shift to that." In the current economic environment, Miskin recommends high-quality bonds as an opportunity for investors, stating that he is "struggling to see value" in equities. "Powell's not doing himself any favors, and the Fed more broadly, by talking about cuts. Because when they talked about cuts...that actually stimulated the economy," Miskin tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
- Yahoo Finance Video
Stocks open lower ahead of Fed's rate decision on Wednesday
US stock market indexes (^DJI, ^IXIC, ^GSPC) open Tuesday's session lower as equities are listening closely to the Federal Reserve's interest rate decision to come out on Wednesday, May 1. Morning Brief Anchors Seana Smith and Brad Smith monitor gains in the 10-year Treasury Yield (^TNX) and sector losses after the market open. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Tesla short sellers get burned, econ data: Market takeaways
A slew of economic catalysts, including jobs data, the Federal Open Market Committee (FOMC) meeting, and Big Tech earnings may accelerate markets this week. Notably, Treasury yields have lowered recently, with some experts pointing out this may be in anticipation of Powell's press conference. One of Monday's top trending tickers has been Tesla (TSLA), which saw a turnaround in its share price after CEO Elon Musk's surprise visit to China led to the tentative approval of the automaker's "Full Self-Driving" (FSD) software in China. With shares bouncing back, short sellers have taken a hit. Yahoo Finance Reporter Josh Schafer joins Market Domination Overtime to break down the top takeaways for the day and what investors should watch. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
