π₯Key events in the coming week, share your trading plans!
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Why AeroVironment Could Be a High-Reward Opportunity
Uber Opportunities With Pony.ai Potential Acquisition Despite Tesla Robotaxi Launch
CYN Soars on Nvidia Partnership: Invest ?
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Below are Today's Key Takeaways.
Top News Move the Market
Weekly Hot Stocks
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Global Markets Weekly Update
Stocks rallied in response to several positive developments during the week, including de-escalating tensions in the Middle East, dovish comments from several Federal Reserve officials, reports that the U.S. and China signed a new trade deal, and comments from several U.S. government officials indicating that more trade deals were close to the finish line. The S&P 500 Index and Nasdaq Composite, up 3.44% and 4.25%, respectively, both closed at record highs, while the Dow Jones Industrial Average, S&P MidCap 400 Index, and Russell 2000 Index all rose over 2.5%.
U.S. Treasuries generated positive returns during the week as yields generally decreased in response to some of the weekβs softer-than-expected economic data as well as comments from several Fed officials indicating rate cuts could be on the table sooner than many have been anticipating. (Bond prices and yields move in opposite directions.) While futures markets were still pricing in a high likelihood that the Fed will keep rates steady in July, the probability of a rate cut rose from 14.5% at the end of the prior week to around 19% by Friday afternoon, according to the CME FedWatch Tool.
On Monday, S&P Global reported that U.S. business activity expanded in June, albeit at a moderately slower rate than in May. The Flash U.S. Composite Output Purchasing Managersβ Index (PMI) registered a reading of 52.8, down slightly from Mayβs reading of 53.0 (readings above 50 indicate expansion, while readings below 50 signal contraction). The composite reading was buoyed by the first rise in manufacturing output since February, which helped offset a modest deceleration in the services sector. Inflation continued to be a drag, with the overall rise in costs hitting the second highest level since the start of 2023, which was widely blamed on tariffs.
On Thursday, the Commerce Department reported that orders for durable goods surged 16.4% in Mayβthe highest pace in 11 yearsβcompared with a decline of 6.6% in April, driven by a sharp rise in commercial aircraft bookings. Durable goods orders excluding defense and aircraftβa common proxy for business investmentβrebounded 1.7% from Aprilβs 1.4% decline.
Elsewhere, the National Association of Realtors (NAR) reported that existing home sales rose 0.8% in May to a seasonally adjusted rate of 4.03 million. This was ahead of consensus estimates but still the slowest pace for a May reading since 2009, βlargely due to persistently high mortgage rates,β according to NAR Chief Economist Lawrence Yun. Meanwhile, the Census Bureau reported that new home sales dropped sharply in May, falling 13.7% from April to a seasonally adjusted rate of 623,000, the lowest level since October.
The week ahead : June 30-July 4
All right, here is all the market information we would like to share with youοΌ
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- MrzorroΒ·06-30Thank you, @Daily_Discussion , for the tiger coinsLikeReport
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