Category: Stock Market
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Jobless Numbers, China Pullback, & Semis
SPY currently trading below yesterday’s close. Weekly Initial Jobless Claims for the week ending September 28 were 225,000, an increase of 6,000 from the previous week’s revised level, according to data the Labor Department released on Thursday.
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NonFarm ADP & China Continuation
USA ADP Nonfarm Employment Change for September 143K vs 124K Est (103K prior). Big continuation from Chinese stocks.
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Market Analysis 09/25/24
The new home sales bulletin will be released at 10 am ET, followed by the weekly EIA petroleum status report at 10:30 am ET.
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Morning Market Analysis 09/23/24
U.S. index futures are modestly higher at the start of this new week as the rate cut euphoria fades and traders look ahead to the next key catalysts.
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Fed cuts interest rates by 50 BPS, signals 2 additional cuts this year
The Federal Reserve slashed interest rates by 50 BPS today and signaled for 2 additional cuts this year, followed by 4 in 2025.
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Morning Market Analysis 09/18/2024
Rate cute day. Trading direction will depend on few items: any changes in the Fed’s language in the post-meeting policy statement, the growth, inflation, and rate forecasts provided in the Summary of Economic Projections, and Chair Jerome Powell‘s comments during the subsequent press conference.
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GLMD Short Squeeze
GLMD saw massive volatility today without any real visible news. Perhaps the potential catalyst was that the company regained compliance with the Nasdaq Stock Market and said it would continue to list and trade its stock on the exchange. Either way, it saw a lot of squeezing price action today.