Market recap for Wednesday, May 30th
Markets snapback with Energy and Financial leading the way.
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Motley FoolHere's the Best "Magnificent Seven" Stock to Buy Right Now, According to Wall Street (Hint: Not Nvidia)
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Wall Street indexes were back in sight of record highs following a selloff last month, as a slew of economic data pointed to cooling labor market momentum, raising expectations that the Fed will cut borrowing costs more than once this year. Expectations of U.S. monetary policy easing, along with a much better-than-expected earnings season put the benchmark S&P 500 and the tech-heavy Nasdaq Composite on track for their third consecutive week of gains. While most Fed policymakers have reiterated that the next policy move will be a rate cut, doubt still remains about when the easing will begin.
ReutersEnergy Transfer Is Getting a Big Acquisition-Fueled Earnings Boost
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Motley FoolBitcoin Drops. Why Almost Everyone Was Wrong About the ‘Halving.’
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Barrons.comTime to Pounce: 2 Historically Cheap Ultra-High-Yield Energy Stocks That Are Begging to Be Bought Right Now
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Motley Fool‘Jump on the Bandwagon,’ Says Bank of America About These 2 Stock Picks
This year started with a bang, saw a fizzle in April – but now appears to be regaining its stride. As we saw last year, the gains continue to be dominated by the ‘Magnificent 7’ tech stocks. This group of mega-cap companies collectively experienced a 48% year-over-year earnings increase in the recent first-quarter 2024 releases, in contrast to a 2% collective decline across the other S&P companies. Going forward, however, expectations are that the remaining 493 companies on the S&P will close th
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