๐ฐ ๐๐๐๐ค๐ฅ๐ฒ ๐ฆ๐๐บ๐บ๐ฎ๐ฟ๐ ๐ฐ
Week Ending 3/22/2024
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐๐?
- The $SPX500 (SPX500 Index (Non Expiry)) rose to new highs this week as officials from the Federal Reserve's policy-setting committee indicated they still expect to cut rates several times this year. The breakthrough occurred while the Federal Open Market Committee met for two days, ending without any modifications to the federal funds rate benchmark. However, a slim majority of Fed representatives reiterated their expectations for three rate reductions this year. As a result, investors' confidence surged and stocks set new highs.
- Almost all sectors in the S&P 500 rose on the week, led by communication services, which climbed 4.8%. Technology and industrials rose 2.9% each, followed by a 2.8% increase in consumer discretionary and gains in all remaining sectors except real estate, which edged down 0.4%. Google parent Alphabet's $GOOG (Alphabet) shares increased 6.8% in the communication services sector following a positive Wedbush report. Wedbush increased its price objective for Alphabet's stock in the research from $160 to $175 per share, citing an overestimation of expected structural risks to Google Search. The company stated that Alphabet continues to be a "clear" benefit of generative artificial intelligence and kept its outperform rating on the company's stock. In the technology sector, Micron Technology $MU (Micron Technology, Inc.) shares jumped 18%. Several analyst firms raised their investment ratings and price targets on the semiconductor manufacturer's stock after the company said it swung to a profit in fiscal Q2 while revenue rose year-over-year. Micron also provided fiscal Q3 guidance for adjusted EPS and revenue that topped analyst expectations.
๐๐ก๐๐ญ ๐ก๐๐ฉ๐ฉ๐๐ง๐ฌ ๐ง๐๐ฑ๐ญ?
- Next week, investors will be focused on a revised reading of Q4 gross domestic product, which is due Thursday, and the February personal consumption expenditures index on Friday. February new home sales are expected on Monday and February pending home sales on Thursday.
Weekly Performance:
@Future101- (+0.78%)
$SPX500 (SPX500 Index (Non Expiry)) - (+2.76%)
$NSDQ100 - (+2.09%)
- To all those who have recently copied me, I would like to say thank you and welcome. Having said that, I would want to thank you sincerely for your ongoing support. Maintaining composure and patience is essential. Cheers to everyone's weekend.
- Disclaimer: This is just an opinion and is not a financial advice.... Show More
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Sun Jun 22 2025 09:21:48 GMT+0000 (Coordinated Universal Time)
