Odds of an interest-rate cut by September were on the rise Wednesday morning after the May CPI came in cooler than expected.
Traders now see a 68.8%% chance of at least a quarter-point cut through the Federal Reserve’s mid-September meeting, which is up from 61.7% on Thursday, according to the CME FedWatch Tool.
» Read more about: Fed Seen More Likely to Cut Rates in September »
Inflation didn’t pickup as much as Wall Street expected in May.
The latest data from the Bureau of Labor Statistics showed that consumer prices increased 2.4% over the prior year in May, an increase from April’s 2.4% and in line with economists’ forecast for 2.4%. But all other closely watched metrics from the release came in below expectations.
» Read more about: Tesla Stock Starts the Week With a Pair of Downgrades After Musk-Trump Spat »
Tesla (TSLA 5.66%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.
Tesla (NASDAQ: TSLA) is one of the leaders of the electric vehicle (EV) industry, but investors are more focused on its autonomous full self-driving software (FSD),
» Read more about: Better Autonomous Driving Stock: Tesla or Uber? The Answer Might Surprise You. »
Apple Inc. AAPL is under scrutiny as CNBC’s “Mad Money” host Jim Cramer declared that the tech giant’s stock buyback program “is not working right now.”
What Happened: The $3 trillion company,
Artificial intelligence (AI)-powered data centers are a booming industry now. The energy-hungry AI space has made nuclear energy one of the hottest industries on Wall Street over the past year. At this stage, investors should focus on nuclear energy producers or equipment manufacturers or input suppliers.
In December 2024,
» Read more about: Watch 5 Nuclear Energy Stocks Set to Surge on Huge Data Center Growth »
Stock futures moved higher Wednesday morning as investors digested an encouraging report on inflation and the latest developments on trade talks between the U.S. and China.
Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq were each down 0.2% recently. The benchmark S&P 500 and the tech-heavy Nasdaq Composite come into today’s session on three-day winning streaks,
[NEW YORK] Some investors are questioning the amount of cash Big Tech is throwing at artificial intelligence, fuelling concerns for profit margins and the risk that depreciation expenses will drag stocks down before companies can see investments pay off.
“On a cash flow basis they’ve all stagnated because they’re all collectively making massive bets on the future with all their capital,” said Jim Morrow,
» Read more about: AI bets that fuelled Big Tech’s surge now threaten rich profits »
The parent company of Facebook is investing nearly $15 billion to get a 49 percent stake in AI data preparation company Scale AI, and it’s also building what it calls “superintelligence,” which is an AI system that supposedly exceeds the power of the human brain, according to multiple reports.
Meta,
» Read more about: Meta Investing $14.8B In Scale AI, Looks To Build ‘Superintelligence’: Reports »