‘Stunning 7’ Stocks Rally Strongly Following CPI-induced Downturn

Investors, rejoice! The US stock market is on an uptick after a slight scare caused by Wednesday’s surprising increase in consumer prices. Big Tech stocks, including the tech giants from the “Magnificent 7”, are leading the charge. Apple, Nvidia, and Amazon are all seeing gains, with the Nasdaq Composite taking the lead with a 1.7% increase.

The bond market is also stabilizing, with the 10-year Treasury yield sitting around 4.56% after hitting its highest level since November. The slight increase in producer prices for March has offered some reprieve to investors, with annual growth of 2.1% falling below estimates but still showing a strong push in nearly a year.

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As the Federal Reserve reassesses its rate cut expectations for 2024, the focus shifts to first-quarter corporate results. With limited signs that high borrowing costs are impacting earnings, investors are eagerly awaiting updates from major banks like JPMorgan to signal the start of earnings season.

But it’s not all smooth sailing. Mortgage rates are on the rise, hitting nearly 7.4%, as investors grapple with the implications of higher interest rates on the housing market. Homebuyers are feeling the pinch as borrowing costs soar, leading to a slowdown in purchasing activity across the board.

Amidst all this volatility, our team at Extreme Investor Network aims to provide you with expert insights and analysis that will help you navigate these uncertain waters with confidence. Stay tuned for more updates and actionable tips to optimize your investment strategy in today’s ever-changing market landscape.

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