Fed Seen More Likely to Cut Rates in September
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.
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Read MoreStock market today: Dow, S&P 500, Nasdaq futures rise as cool inflation data boosts markets, Fed rate cut hopes
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 MoreTesla Stock Starts the Week With a Pair of Downgrades After Musk-Trump Spat
Key Takeaways
- Tesla’s stock received a pair of downgrades from Argus Research and Baird analysts.
- The analysts said uncertainty after CEO Elon Musk’s public spat with President Trump is a negative for the EV maker.
- Tesla is expected to launch its robotaxi service in Austin,
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Read MoreTesla Stock Investors Got a Double Dose of Bad News After the Feud Between President Trump and Elon Musk
Oil prices leap 7% and US stocks slump more than 1% on worries about the crude market
NEW YORK — Oil prices leaped and stocks slumped Friday on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.
The Standard & Poor’s 500 index fell 68.29 points, or 1.1%,
Read MoreThe Burst
Market Commentary: Champion Traders Key Rule To Win
When you win the US trading championships numerous times, you deserve closer scrutiny than the ordinary trader. And that’s why in today’s post we examine an absolutely crucial component of successful trading that just about every ordinary trader ignores, dismisses, or simply fails to adhere to in spite of knowing better.
To exemplify the rule,
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Read MoreThe Ivy
Is This Buffett Stock Doomed?
With over 33 million subscribers as of 2024, Sirius XM seems like a company that has scaled and locked in a wide moat, but is there more to this Buffett stock than meets the eye.
After all, Buffett may be famous for making billions but he’s not immune to picking poor stocks from time to time.
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Read MoreThe Spotlight
Billionaire Bets Big On This Energy Stock
Billionaire Stanley Druckenmiller is renowned for his investing prowess, and he’s made some savvy calls over the years. So it was worth paying attention when his family office picked up just over a million shares of Cenovus Energy Inc. (NYSE:CVE).
Why would Druckenmiller might be interested in this Canadian oil producer and does it makes sense for investors to follow his lead?
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