To The Moon

The Federal Reserve maintained its forecast of three interest rate cuts this year; the People's Bank of China kept interest rates unchanged.

🇺🇸 S&P 500: 0.90% 📈

🇺🇸 Nasdaq: 1.26% 📈

🇪🇺 Stoxx 600: 0.03% 📈

🇯🇵 Nikkei 225: Market closed

🇭🇰 Hang Seng Index: 0.08% 📈

🇨🇳 CSI 300 Index: 0.22% 📈

• U.S. stocks rose after the Federal Reserve kept expectations for a rate cut in 2024 unchanged, with the S&P 500 up 0.9%, topping 5,230 and hitting a record high, while the Nasdaq Composite gained 1.3%, also near its all-time high level.

• The Federal Reserve kept the federal funds rate unchanged at a 23-year high of 5.25% - 5.50% at its fifth consecutive meeting in March 2024, in line with market expectations. At the same time, policymakers still expect to cut interest rates three times this year, which is the same as in December 2023. Monthly quarterly forecasts were consistent.

• Asia-Pacific markets were generally higher, with Hong Kong's Hang Seng Index rising slightly by 0.1% ahead of the Federal Reserve's decision to cut interest rates, and Shanghai's CSI 300 Index rising slightly by 0.2% after the central bank decided to keep interest rates unchanged.

• The People's Bank of China (PBOC) kept its benchmark lending rate unchanged in March pricing, in line with consensus expectations, with one- and five-year lending rates at 3.45% and 3.95% respectively.

💡 Things you need to know today: 💡

1. Fed Chairman Jerome Powell:“I don't think thy've really changed the overall picture, which is that inflation is gradually declining on a sometimes difficult path toward 2%. We're not going to comment on this two months data and will not ignore them."

2. Christine Lagarde, President of the European Central Bank:“By June, new economic forecasts... If these data are consistent with the trajectory of inflation and assuming that the transmission mechanism remains strong, we will be able to enter the policy cycle The mitigation phase makes the policy less stringent."

Christine Lagarde

3. The White House said Intel has received up to $8.5 billion in CHIPS Act funding and may also receive up to $11 billion in loans related to the bill, which is passed in 2022. This is indeed a great news for Intel and its share price$Intel(INTC)$  $Nasdaq100 Bull 3X ETF(TQQQ)$  . Intel share has been dropping and remains low for the past years. Is it time for the company to rebound?

Intel

4. Samsung Electronics shares surged 5.6% on rumors of Nvidia's interest in the company, following reports that Nvidia CEO Jensen Huang hinted at a media conference that his company was Evaluating Samsung Electronics' new generation of high-bandwidth memory chips for use in its graphics processing units.

Samsung

5. Boeing forecasts a huge cash flow drain in the first quarter of 2024, as regulatory scrutiny and an in-flight accident in January slowed production of its 737 Max jetliner, impacting its finances.

Boeing

✅ Key Points:

Encouragingly, the Fed maintained its dot-plot economic forecast this time, while Jerome Powell took a dovish stance, mentioning that even a strong labor market would not prevent the start of interest rate cuts.

@Daily_Discussion  @TigerStars  @CaptainTiger  @MillionaireTiger  @Tiger_comments