16%
GE Aerospace (GE): The aerospace company beat estimates and raised full-year guidance.
Trading in financial products involves risk. You could lose more than your initial investment.
GE Aerospace (GE): The aerospace company beat estimates and raised full-year guidance.
Newmont Goldcorp (NEM): The gold miner beat earnings and revenue estimates. It’s also looking to sell assets following a rally in metal prices.
Wabtec (WAB): The supplier of train systems beat earnings and revenue estimates.
Globe Life (GL): The life insurer plunged on comments by a short-selling group. It rejected the claims and announced a stock buyback.
Intel (INTC): Revenue and guidance missed forecasts as the semiconductor maker struggles to update its business and enter the AI market.
Ulta Beauty (ULTA): The cosmetics company’s comparable sales missed estimates and profit guidance was lower than hoped.
Job Growth Beats by Wide Margin | Non-farm payrolls increased by 303,000 in March, far above the 200,000 forecast by economists. Healthcare and education drove the increase. The unemployment rate dipped to 3.8%, slightly below estimates. (5/4) | |
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Fed Not Convinced on Inflation | Minutes from the previous Fed meeting suggested policymakers have less confidence that inflation is slowing to its 2% target. They were especially concerned about housing costs. Consumer prices earlier in the day were higher than expected. (10/4) | |
Retail Sales Beat by Wide Margin | Retail sales increased by 0.7% in March, more than twice the 0.3% estimate. They grew 1.1% excluding autos, almost triple the 0.4% estimate. February’s total was also revised sharply higher. (15/4) | |
GDP Growth Comes Up Short | Gross domestic product (GDP) increased by 1.6% in the first three months of the year, missing the 2.5% forecast by economists. Price indexes were also higher than expected. (25/4) |
Product Name | Current Month | Expiration | Next Month | 1-Mon% |
---|---|---|---|---|
S&P 500 E-Mini (@ES) | ESM24 (June) | 21 Jun 24 | ESU24 (Sept) | -4.7% |
*S&P 500 E-Mini Micro (@MES) | MESM24 (June) | 21 Jun 24 | MESU24 (Sept) | -4.7% |
Nasdaq-100 E-Mini (@NQ) | NQM24 (June) | 21 Jun 24 | NQU24 (Sept) | -5.2% |
*Nasdaq-100 E-Mini Micro (@MNQ) | MNQM24 (June) | 21 Jun 24 | MNQU24 (Sept) | -5.2% |
Dow Jones E-Mini (@YM) | YMM24 (June) | 21 Jun 24 | YMU24 (Sept) | -5.5% |
*Dow Jones E-Mini Micro (@MYM) | MYMM24 (June) | 21 Jun 24 | MYMU24 (Sept) | -5.5% |
* Micro contracts are one-tenth the size of standard e-minis.
Date | Event | What to watch |
---|---|---|
Wed, 1-May | Fed meeting | Comments on inflation and monetary policy |
Fri, 3-May | Non-farm payrolls | Hiring and wage trends in April |
Wed, 15-May | Consumer price index (CPI) | Inflation trends |
Wed, 15-May | Retail sales | The strength of consumer spending |
Wed, 22-May | Fed minutes | Further guidance on monetary policy |
Utilities were the top performer as investors sold other sectors and took refuge in safe havens.
Energy outperformed most of the month as crude-oil inventories remained tight and traders worried about geopolitical risks..
Real estate fell the most as borrowing costs rose and office vacancies continued to increase.
Technology stocks lagged as investors took profits on AI names.
Investing.com reported that Goldman Sachs thinks Chinese stocks may have bottomed as economic growth and earnings improve. UBS upgraded the country a week later, noting that valuations have declined. The moves came as regulators looked to ease trading restrictions.
Chinese stocks
Regional banks may remain under pressure because of commercial-real estate exposure, Sheila Bair told CNBC. Bair, former chair of the Federal Deposit Insurance Corp. (FDIC) also sees risk in their uninsured deposits. She expects large money-center banks to benefit as business shifts from smaller lenders.
Regional banks
Copper demand will surge because of electric vehicles, AI data centers and automation, Singapore-based commodities firm Trafigura told Reuters. The trends may add 10 million metric tons of consumption over the next 10 years, according to the report.
Copper
The S&P 500 may end the year little changed around 5,100, BMI Capital Markets chief Strategist Brian Belski told CNBC. He cited high valuations but still expects the bull market to continue over the longer term. Belski added that financials may outperform on stronger earnings.
Financials
Bernstein analyst Toni Sacconaghi upgraded Apple (AAPL) to “outperform” for the first time in six years, citing potential iPhone upgrades and better seasonality. He also sees a rebound in China and increased demand if AI functionality is added.
AAPL
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