Evening Market Recap - Thursday, 25-Apr
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US equities ended lower Thursday, just off best levels as market regained some sharp early-morning losses. The market shook off some of the overhang from disappointing tech earnings and stagflation worries sparked by this morning's economic data. The first read for Q1 GDP came in below consensus at a 1.6% SAAR, with the release noting increased consumer spending, but weaker private inventory investment.
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Stocks were higher as the S&P 500 and Nasdaq erased early-week declines off of relatively dovish Fed takeaways and an April payrolls report that added some support to the soft landing theme. Wednesday's May FOMC meeting ended with no change to the policy rate as expected, holding at...
Published 05/03/24
Published 05/03/24
US equities finished solidly higher in Thursday trading, ending a bit off best levels. The simplest excuses for today's more optimistic tone are dovish takeaways from Powell's Fed comments yesterday and the lower-rate backdrop. Q1 productivity undershot expectations while unit labor costs up at a...
Published 05/02/24