Stock Market Overview
Wed, May 15th, 2024
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Stock Indexes Post Record Highs as Economic Reports Bolster Rate Cut Hopes
Barchart - 1 hour ago
The S&P 500 Index ($SPX) (SPY) Wednesday closed up +1.17%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.88%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.49%.
US stock indexes Wednesday rallied, with the S&P 500, Dow Jones Industrials, and the Nasdaq 100 posting all-time highs. Stocks gained as bond yields fell after US consumer prices eased as expected. Also, the US retail sales, Empire manufacturing, and NAHB housing index reports were weaker than expected, bolstering the outlook for the Fed to cut interest rates this year.
US Apr CPI eased to +3.4% y/y from +3.5% y/y in March, right on expectations. Apr CPI ex-food and energy eased to +3.6% y/y from +3.8% y/y in March, right on expectations and the smallest increase in 3 years.
US Apr retail sales were unchanged m/m, weaker than expectations of +0.4% m/m. However, Apr retail sales ex-autos rose +0.2% m/m, right on expectations.
The US May Empire manufacturing survey general busines... Read more
Marathon Profits from AMC’s Meme-Stock Rally with Strategic Debt Investment
Quiver Quantitative, Inc. - 10 minutes ago
Marathon Asset Management has capitalized on the latest meme-stock rally of AMC Entertainment Holdings (AMC), significantly benefiting from the cinema chain's stock surge. Bruce Richards, CEO of Marathon,...
Goldman Sachs Raises $3.5 Billion in Bond Sale Amid Economic Optimism
Quiver Quantitative, Inc. - 10 minutes ago
Goldman Sachs (GS) has raised $3.5 billion in bonds, marking the third time the financial giant or one of its units has tapped the investment-grade market in just over two months. The latest issuance,...
Peloton Taps JPMorgan for Major Loan Sale Amid Debt Restructuring
Quiver Quantitative, Inc. - 10 minutes ago
Peloton (PTON) has engaged JPMorgan (JPM) to raise approximately $850 million through a new loan sale aimed at refinancing existing debt, according to insiders familiar with the matter. JPMorgan has started...
New AT&T and AST SpaceMobile Deal to Revolutionize Mobile Connectivity
Quiver Quantitative, Inc. - 26 minutes ago
AT&T (T) has entered into a strategic partnership with satellite provider AST SpaceMobile (ASTS) to deliver space-based broadband directly to cell phones. This collaboration, formalized after years of...
Enterprise Spending Boosts Cisco's Q4 Revenue Forecast Beyond Expectations
Quiver Quantitative, Inc. - 26 minutes ago
Cisco Systems (CSCO) has projected an optimistic fourth-quarter revenue forecast, surpassing Wall Street estimates, as enterprise spending rebounds and supply chain constraints ease. This positive outlook...
Ken Griffin’s Citadel Securities Sees 68% Revenue Surge in Q1 2024
Quiver Quantitative, Inc. - 26 minutes ago
Citadel Securities has reported a net trading revenue of $2.3 billion for the first quarter of 2024, marking a 68% increase year-over-year. This surge sets the market-making firm, founded by billionaire...
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