Do it in the Right Way
Having the most advanced tools for your stock trade is not enough, the role of news cannot be understated. Moreover, having the right information means nothing if you are not able to receive it instantly. With the Proficient Trader App you have free access to the recent news and trends in global financial markets from the most reliable resources, such as Yahoo Finance, CNBC, Forbes, Business Insider, Bloomberg Markets, and the list is growing! After checking news headlines, you may be interested in, with a click of a button, you will be directed to that headline, on that specific website.
All news
What's Next for Wall Street Research? Big Themes, More Data
Candace Browning, head of global research at BofA Securities, lays out a blueprint for the industry's future, even in the face of changing regulations....
Nasdaq Sees AI Shaping the Market of the Future. Here's How.
Nasdaq President and CEO Adena Friedman outlines how to strengthen market infrastructure, build new marketplaces, and stay ahead of cyber criminals....
Wall Street enjoys banner Friday despite retail sales disappointment
4:14pm: Cruise line companies benefit from rising tides on Wall Street The Dow ended Friday up 361 points, 1.1%, at 34,382. The Nasdaq surged 305 points, 2.3%, to 13,430, and the S&P 500 improved 61 points, 1.5%, to 4,174....
Fed's Kaplan sees risk of inflation gaining a foothold in U.S. economy
(Reuters) -Dallas Federal Reserve President Robert Kaplan on Friday raised the prospect of a worrisome rise in U.S. inflation expectations, as imbalances between supply and demand for labor and goods put upward pressure on prices....
Nasdaq jumps 2.3% as tech stocks lead a broad rally amid tempered inflation fears (INX, DJIA, COMPX, NDX, RUI, RUT, BTC-USD)
Tech stocks led a broad-based rally on Friday, with investors driving the Nasdaq up by more than 2% as Federal Reserve officials said they will stay with monetary policies that support economic recovery, with more signs of such improvement arriving as the trading week wrapped up. Wall Street's benchmark indexes extended gains made Thursday that snapped a three-session losing streak. Apple, Tesla, and Facebook were among big tech names that advanced. All 11 sectors on the S&P 500 rose, led by the energy group....
Dow ends 360 points higher as stocks trim weekly decline
Stocks ended with strong gains Friday, building on the previous session's bounce as major benchmarks trimmed weekly losses. The Dow Jones Industrial Average rose around 361 points, or 1.1%, to end near 34,382, according to preliminary figures....
Global auto market will lose out on $110B in revenue due to chip shortage
In its report on Friday, AlixPartners (consulting firm) said the global automotive industry is expected to take a $110 billion (£78 billion) hit to revenue this year due to the ongoing semiconductor chip shortage. Previously in January, the New York-based firm had forecast a much narrower $60.6 billion hit to revenue when the shortage had […] The post Global auto market will lose out on $110B in revenue due to chip shortage appeared first on Invezz....
The Dow's Rollercoaster Week Amid Big Tech's Sell-Off
The second week of May was an especially volatile one, particularly for the Dow, as Big Tech stocks stole the spotlight for much of the week....
Market Extra: Is this ‘good' inflation or ‘bad' inflation? Stock-market investors are rattled because they can't tell
The stock market is generally expected to benefit from inflation, but surging price pressures are rattling investors....
Federal Reserve Watch: Reserve Balances With FR Banks At All Time High
The Federal Reserve continues to oversee the growth in commercial bank reserve balances as they now reach a new historical high of $3,955 billion, or, just under $4.0 trillion....
US Senators On The Verge Of A $52B Chip Funding Deal Announcement: Reuters
A group of U.S. senators are on the verge of unleashing a $52-billion proposal to drive the U.S. semiconductor chip production and research over five years to tackle the growing Chinese semiconductor production and crisis impacting the automakers and other U.S. industries Reuters reports. The proposal includes $49.5 billion in emergency added appropriations to fund the chip provisions included in this year's National Defense Authorization Act....
Steel Stocks Are Feeling the Squeeze From China
Beijing wants steel mills to help control the price of iron ore, a raw material key to making steel. Iron ore futures were down 10% on Friday....
U.S. Stocks Climb After Retail Sales Fall Short
While U.S. stocks continued to climb Friday, they remained on track for weekly declines amid an inflation scare and mixed signals from economic data....
Otonomy's OTO-825 Gene Therapy Can Restore Meaningful Hearing Function, Animal Study Shows
Otonomy Inc (NASDAQ: OTIC) may have hit a snag with the development of its lead ear disorder candidate Otividex. Still, the company is trumpeting an early win for a gene therapy designed to treat congenital hearing loss....
U.S., Mexico, Canada to hold "robust" talks on new trade deal - statement
The United States, Mexico and Canada will next week hold their first formal talks on a new continental trade deal, with particular focus on labor and environment obligations, the U.S. government said on Friday....
The ongoing chip shortage is expected to cost the auto industry $110 billion this year, almost double analysts' estimate from January
The semiconductor chip shortage is roiling the global supply chain, but no sector is feeling it worse than the auto industry. A new estimate from the consulting firm AlixPartners puts the global industry cost of the shortage at $110 billion this year, up from an earlier estimate of $60 billion in January....
Stock Index ETFs Accelerate Gains to Close Out Volatile Week
After a rough start to the week, stocks and index ETFs continued to drive higher on Friday, building on gains in the prior session, thanks to moves in technology shares and stocks benefitting from an economic recovery. The Dow Jones Industrial Average advanced 0.77% after a rough start to the week....
Bipartisan Senate Group Said To Plan $52 Billion Bill To Address Chip Shortage
Some estimates say the chip shortage could last until 2023....
Be Careful What You Wish For
When the ECB was founded, it adopted inflation targeting with the implicit assumption that the purpose of the policy was to hold down inflation. In 2020, the Fed adopted an average inflation targeting policy with the implicit assumption that it would be used to push inflation higher when at the zero bound....
Retail Sales Could Ease Inflation Fears on Wall Street
Retail sales in the U.S. lost momentum in April of 2021, according to a government report released on Friday morning. The numbers missed even the low market expectations, which had called for a 1% increase....
Some early U.S. data suggest May jobs report could echo April weakness
Some initial U.S. jobs data for May are showing signs of weakness, raising the possibility that April's disappointing employment report was not just a one-time blip....
Wall Street higher at midday despite retail sales disappointment
12:16pm: Big tech enjoying strong Friday The Dow was up 289 points, 0.9%, to 34,310 at midday. The Nasdaq jumped 268 points, 2.1%, to 13,392, and the S&P 500 improved 54 points, 1.3%, to 4,167....
It's Not Jimmy Carter's Inflation, but It's Still Worrisome. How to Beat It.
Rising prices don't necessarily presage a repeat of the 1970s. Still, it's wise to consider taking out some insurance against the possibility that they do....
Array of Economic Data Concludes the Week
A busy week for economic data concludes with another big set of metrics determining strength in the economy: Retail Sales, Import and Export Prices, Industrial Production and Capacity Utilization all hit the tape before the opening bell for the final trading day of the week, helping articulate where we currently stand. Or, rather, where we stood a month ago....
Investors Are Concerned about Possible Tax Increases
There's no denying stocks have performed well since Election Day. In fact, the S&P 500's showing through the first 100 days of the Biden Administration is one of the best such performance in the first 100 days of any administration....
20% Inflation? It's likely, according to Wharton's Jeremy Siegel (!
Jeremy Siegel, finance professor at the University of Pennsylvania's Wharton School, has been raising concerns over the rising expectations for runaway inflation for the last one year. “I predicted here that over the next two, three years we could easily have 20% inflation with this increase in the money supply,” he said....
Retailers set for earnings stage after inflation-sparked market turbulence
Earnings reports from major retailers will be in focus next week after the U.S. stock market suffered one of its biggest pullbacks in months, with investors looking for clues on the pace of inflation and consumer spending and whether companies can sustain their strong earnings momentum....
Key Words: Stock market can ‘more than compensate' even if inflation hits 20%, says Jeremy Siegel
History shows “stocks more than compensate for inflation,” says Wharton finance professor Jeremy Siegel. And he expects U.S. inflation to run quite hot....
Larry Summers thought inflation could rise quickly — but not this quickly
For someone who's been warning of rampant inflation for much of 2021, it would take a blowout report to rattle former Treasury Secretary Larry Summers. Data published Wednesday seems to have fit the bill....
MacroView: NFIB Data Says It's Only An Economic Recovery
The recent NFIB survey suggests we are only in an economic recovery, not an expansion. Currently, many analysts expect a massive economic boom in 2021....
REIT Earnings Recap: Inflation Overshadows Strong Quarter
Overshadowed by concerns about rising inflation, a frenzy of real estate earnings reports over the last month has provided critical information on the state of the real estate industry. Results were better than expected across most major property sectors with roughly 80% of the 170 equity REITs and 40 mortgage REITs in our coverage universe beating consensus FFO estimates....
What Will the Stock Market Do Today? 3 Big Stories to Watch.
So what will the stock market do today? All eyes are on AMC stock with hopes for a short squeeze rally swirling....
April Retail Sales Stall Without Stimulus; Deliver A Flat 0.0 Pct Reading vs March
Total retail and food sales stalled in April in the face of rising prices and the absence of $1,400 stimulus checks that fueled a record jump in March. According to the Commerce Department's latest reading on the broadest measure of the U.S. economy, sales for April were unchanged from an upwardly revised 10.7 spike in […]...
Economic Report: U.S. consumer sentiment index slumps unexpectedly in May
The University of Michigan's index of consumer sentiment fell to 82.8 in May from the April reading of 88.3. It's the lowest reading since February...
Investors Need To Soar Above Overconfidence To Fortify Wealth
“Neither Bull Nor Bear” A growing deflationary hurricane is churning off the coast. At the same time, a massive inflationary warm front is surging toward us, threatening inflation like we have not seen in forty years....
Why The CPI Inflation Number Was Not 'A Bearish Gamechanger' For Stocks
The SPDR S&P 500 ETF Trust (NYSE: SPY) took a big hit this week after the U.S. Labor Department reported a 4.2% rise in CPI for the month of April, the highest inflation reading since 2008. The big inflation number spooked investors who are concerned the $6 trillion in COVID-19 stimulus could trigger hyperinflation, but Sevens Report Research's Tom Essaye said Thursday the headline inflation number may not be as bad as it appears at first glance....
Municipal Bond Outlook - Hanging Tough
With the extended May 17 U.S. tax deadline fast approaching, now is an appropriate time to take stock of how the U.S. municipal bond (muni) market has fared so far this year, and what we think could happen in the months ahead. While it may not be reasonable to expect munis to similarly outperform their taxable counterparts in the months ahead, they may still be able to resist (to a degree) further Treasury yield increases....
US Indexes Rebound for Higher Close Thursday
The Dow Jones Industrial Average closed at 34,021.45 on Thursday with a gain of 433.79 points or 1.29%. The S&P 500 closed at 4,112.50 for a gain of 49.46 points or 1.22%....
Nasdaq to S&P 500 Index Ratio Undergoing Important Test!
Tech stocks have been on shaking ground over the past several weeks / few months. And this shows up clearly in today's ratio chart, pitting the Nasdaq Composite versus the S&P 500 Index on a “monthly” basis....
Billionaire 'bond king' Jeffrey Gundlach blasted stimulus checks for distorting markets — and warned inflation could threaten stock prices
Jeffrey Gundlach underlined the risks of excessive federal stimulus in a Yahoo Finance interview this week. He also warned sustained inflation could hammer stock prices, and suggested bitcoin's recent slump might indicate that market speculation is on the decline. The billionaire founder and CEO of DoubleLine Capital, whose nickname is the "bond king," said multiple rounds of stimulus checks have distorted several parts of the economy. They have fueled the sharp rise in US house prices over the past year, he said, and discouraged some recipients from working because they're "making more money sitting at home watching Netflix."...
Founder's Focus: History Does Rhyme
Starting this week, I will be writing a weekly column on the market. Over the years, I have put most of my effort into the technology side of GuruFocus, though I still wrote my book, "Invest Like a Guru....
US stocks rally as investors weigh stalling retail sales and inflation guidance
US stocks rose Friday, remaining on higher ground following flat monthly retail sales as investors appeared to lock into assurances by Federal Reserve officials that they will stick with monetary policies that support economic recovery. All three of Wall Street's benchmark indexes were on track to build on Thursday's gains that snapped a three-session losing streak. Advances for stocks Friday came even after the Commerce Department said retail sales in April were virtually unchanged from the previous month. The print missed the estimated 1% increase in sales from economists surveyed by Bloomberg....
The Fed: U.S. industrial output up 0.7% in April, despite drag from autos
U.S. manufacturing production rose 0.7% in April after advancing a revised 2.4% in the prior month, the Federal Reserve said on Friday....
Wall Street starts higher despite retail sales disappointment
The main indices on Wall Street got off to a positive start on Friday despite the latest batch of US retail sales data falling short of expectations. In the first minutes of trading, the Dow Jones Industrial Average was up 0.73% at 34,269 while the S&P 500 climbed 0.8% to 4,145 and the Nasdaq rose 1.09% to 13,268....
Thursday Bounce Extending Into Friday On Reopening Optimism, But Retail Sales Fall Short
This morning, we're seeing remarkable buoyancy in the market despite a revenue miss from Disney and retail sales that came in well short of expectations. Seems investors are determined to buy the dip....
Dow up more than 200 points as stocks open higher in bid to extend bounce
Stocks opened higher Friday in a bid to extend the previous session's bounce at the end of a volatile week that saw inflation fears move front and center across capital markets. The Dow Jones Industrial Average was up 216 points, or 0.6%, at 34,237, while the S&P 500 rose 34 points, or 0.8%, to 4,146....
Retail spending unchanged in April even as more businesses reopened
Retail sales, which include purchases at stores, restaurants and online, remained flat in April compared with the prior month, according to data released by the Commerce Department....
Why You Should Buy This Dip In Stocks
“The following is a list of items we buy that are going up in price –. EVERYTHING....
Zacks Investment Research
Array of Economic Data Concludes the Week
A busy week for economic data concludes with another big set of metrics determining strength in the economy: Retail Sales, Import and Export Prices, Industrial Production and Capacity Utilization all hit the tape before the opening bell for the final trading day of the week, helping articulate where we currently stand. Or, rather, where we stood a month ago....
Seeking Alpha
Federal Reserve Watch: Reserve Balances With FR Banks At All Time High
The Federal Reserve continues to oversee the growth in commercial bank reserve balances as they now reach a new historical high of $3,955 billion, or, just under $4.0 trillion....
Be Careful What You Wish For
When the ECB was founded, it adopted inflation targeting with the implicit assumption that the purpose of the policy was to hold down inflation. In 2020, the Fed adopted an average inflation targeting policy with the implicit assumption that it would be used to push inflation higher when at the zero bound....
MacroView: NFIB Data Says It's Only An Economic Recovery
The recent NFIB survey suggests we are only in an economic recovery, not an expansion. Currently, many analysts expect a massive economic boom in 2021....
REIT Earnings Recap: Inflation Overshadows Strong Quarter
Overshadowed by concerns about rising inflation, a frenzy of real estate earnings reports over the last month has provided critical information on the state of the real estate industry. Results were better than expected across most major property sectors with roughly 80% of the 170 equity REITs and 40 mortgage REITs in our coverage universe beating consensus FFO estimates....
Municipal Bond Outlook - Hanging Tough
With the extended May 17 U.S. tax deadline fast approaching, now is an appropriate time to take stock of how the U.S. municipal bond (muni) market has fared so far this year, and what we think could happen in the months ahead. While it may not be reasonable to expect munis to similarly outperform their taxable counterparts in the months ahead, they may still be able to resist (to a degree) further Treasury yield increases....
See It Market
Investors Need To Soar Above Overconfidence To Fortify Wealth
“Neither Bull Nor Bear” A growing deflationary hurricane is churning off the coast. At the same time, a massive inflationary warm front is surging toward us, threatening inflation like we have not seen in forty years....
Nasdaq to S&P 500 Index Ratio Undergoing Important Test!
Tech stocks have been on shaking ground over the past several weeks / few months. And this shows up clearly in today's ratio chart, pitting the Nasdaq Composite versus the S&P 500 Index on a “monthly” basis....
Schaeffers Research
The Dow's Rollercoaster Week Amid Big Tech's Sell-Off
The second week of May was an especially volatile one, particularly for the Dow, as Big Tech stocks stole the spotlight for much of the week....
Reuters
Fed's Kaplan sees risk of inflation gaining a foothold in U.S. economy
(Reuters) -Dallas Federal Reserve President Robert Kaplan on Friday raised the prospect of a worrisome rise in U.S. inflation expectations, as imbalances between supply and demand for labor and goods put upward pressure on prices....
U.S., Mexico, Canada to hold "robust" talks on new trade deal - statement
The United States, Mexico and Canada will next week hold their first formal talks on a new continental trade deal, with particular focus on labor and environment obligations, the U.S. government said on Friday....
Some early U.S. data suggest May jobs report could echo April weakness
Some initial U.S. jobs data for May are showing signs of weakness, raising the possibility that April's disappointing employment report was not just a one-time blip....
Retailers set for earnings stage after inflation-sparked market turbulence
Earnings reports from major retailers will be in focus next week after the U.S. stock market suffered one of its biggest pullbacks in months, with investors looking for clues on the pace of inflation and consumer spending and whether companies can sustain their strong earnings momentum....
PYMNTS
April Retail Sales Stall Without Stimulus; Deliver A Flat 0.0 Pct Reading vs March
Total retail and food sales stalled in April in the face of rising prices and the absence of $1,400 stimulus checks that fueled a record jump in March. According to the Commerce Department's latest reading on the broadest measure of the U.S. economy, sales for April were unchanged from an upwardly revised 10.7 spike in […]...
Proactive Investors
Wall Street enjoys banner Friday despite retail sales disappointment
4:14pm: Cruise line companies benefit from rising tides on Wall Street The Dow ended Friday up 361 points, 1.1%, at 34,382. The Nasdaq surged 305 points, 2.3%, to 13,430, and the S&P 500 improved 61 points, 1.5%, to 4,174....
Wall Street higher at midday despite retail sales disappointment
12:16pm: Big tech enjoying strong Friday The Dow was up 289 points, 0.9%, to 34,310 at midday. The Nasdaq jumped 268 points, 2.1%, to 13,392, and the S&P 500 improved 54 points, 1.3%, to 4,167....
Wall Street starts higher despite retail sales disappointment
The main indices on Wall Street got off to a positive start on Friday despite the latest batch of US retail sales data falling short of expectations. In the first minutes of trading, the Dow Jones Industrial Average was up 0.73% at 34,269 while the S&P 500 climbed 0.8% to 4,145 and the Nasdaq rose 1.09% to 13,268....
New York Post
Retail spending unchanged in April even as more businesses reopened
Retail sales, which include purchases at stores, restaurants and online, remained flat in April compared with the prior month, according to data released by the Commerce Department....
Market Watch
Dow ends 360 points higher as stocks trim weekly decline
Stocks ended with strong gains Friday, building on the previous session's bounce as major benchmarks trimmed weekly losses. The Dow Jones Industrial Average rose around 361 points, or 1.1%, to end near 34,382, according to preliminary figures....
Market Extra: Is this ‘good' inflation or ‘bad' inflation? Stock-market investors are rattled because they can't tell
The stock market is generally expected to benefit from inflation, but surging price pressures are rattling investors....
Key Words: Stock market can ‘more than compensate' even if inflation hits 20%, says Jeremy Siegel
History shows “stocks more than compensate for inflation,” says Wharton finance professor Jeremy Siegel. And he expects U.S. inflation to run quite hot....
Economic Report: U.S. consumer sentiment index slumps unexpectedly in May
The University of Michigan's index of consumer sentiment fell to 82.8 in May from the April reading of 88.3. It's the lowest reading since February...
The Fed: U.S. industrial output up 0.7% in April, despite drag from autos
U.S. manufacturing production rose 0.7% in April after advancing a revised 2.4% in the prior month, the Federal Reserve said on Friday....
Dow up more than 200 points as stocks open higher in bid to extend bounce
Stocks opened higher Friday in a bid to extend the previous session's bounce at the end of a volatile week that saw inflation fears move front and center across capital markets. The Dow Jones Industrial Average was up 216 points, or 0.6%, at 34,237, while the S&P 500 rose 34 points, or 0.8%, to 4,146....
Invezz
Global auto market will lose out on $110B in revenue due to chip shortage
In its report on Friday, AlixPartners (consulting firm) said the global automotive industry is expected to take a $110 billion (£78 billion) hit to revenue this year due to the ongoing semiconductor chip shortage. Previously in January, the New York-based firm had forecast a much narrower $60.6 billion hit to revenue when the shortage had […] The post Global auto market will lose out on $110B in revenue due to chip shortage appeared first on Invezz....
20% Inflation? It's likely, according to Wharton's Jeremy Siegel (!
Jeremy Siegel, finance professor at the University of Pennsylvania's Wharton School, has been raising concerns over the rising expectations for runaway inflation for the last one year. “I predicted here that over the next two, three years we could easily have 20% inflation with this increase in the money supply,” he said....
InvestorPlace
What Will the Stock Market Do Today? 3 Big Stories to Watch.
So what will the stock market do today? All eyes are on AMC stock with hopes for a short squeeze rally swirling....
GuruFocus
Retail Sales Could Ease Inflation Fears on Wall Street
Retail sales in the U.S. lost momentum in April of 2021, according to a government report released on Friday morning. The numbers missed even the low market expectations, which had called for a 1% increase....
US Indexes Rebound for Higher Close Thursday
The Dow Jones Industrial Average closed at 34,021.45 on Thursday with a gain of 433.79 points or 1.29%. The S&P 500 closed at 4,112.50 for a gain of 49.46 points or 1.22%....
Founder's Focus: History Does Rhyme
Starting this week, I will be writing a weekly column on the market. Over the years, I have put most of my effort into the technology side of GuruFocus, though I still wrote my book, "Invest Like a Guru....
Forbes
Bipartisan Senate Group Said To Plan $52 Billion Bill To Address Chip Shortage
Some estimates say the chip shortage could last until 2023....
Thursday Bounce Extending Into Friday On Reopening Optimism, But Retail Sales Fall Short
This morning, we're seeing remarkable buoyancy in the market despite a revenue miss from Disney and retail sales that came in well short of expectations. Seems investors are determined to buy the dip....
Why You Should Buy This Dip In Stocks
“The following is a list of items we buy that are going up in price –. EVERYTHING....
ETF Trends
Stock Index ETFs Accelerate Gains to Close Out Volatile Week
After a rough start to the week, stocks and index ETFs continued to drive higher on Friday, building on gains in the prior session, thanks to moves in technology shares and stocks benefitting from an economic recovery. The Dow Jones Industrial Average advanced 0.77% after a rough start to the week....
Investors Are Concerned about Possible Tax Increases
There's no denying stocks have performed well since Election Day. In fact, the S&P 500's showing through the first 100 days of the Biden Administration is one of the best such performance in the first 100 days of any administration....
Business Insider
Nasdaq jumps 2.3% as tech stocks lead a broad rally amid tempered inflation fears (INX, DJIA, COMPX, NDX, RUI, RUT, BTC-USD)
Tech stocks led a broad-based rally on Friday, with investors driving the Nasdaq up by more than 2% as Federal Reserve officials said they will stay with monetary policies that support economic recovery, with more signs of such improvement arriving as the trading week wrapped up. Wall Street's benchmark indexes extended gains made Thursday that snapped a three-session losing streak. Apple, Tesla, and Facebook were among big tech names that advanced. All 11 sectors on the S&P 500 rose, led by the energy group....
The ongoing chip shortage is expected to cost the auto industry $110 billion this year, almost double analysts' estimate from January
The semiconductor chip shortage is roiling the global supply chain, but no sector is feeling it worse than the auto industry. A new estimate from the consulting firm AlixPartners puts the global industry cost of the shortage at $110 billion this year, up from an earlier estimate of $60 billion in January....
Larry Summers thought inflation could rise quickly — but not this quickly
For someone who's been warning of rampant inflation for much of 2021, it would take a blowout report to rattle former Treasury Secretary Larry Summers. Data published Wednesday seems to have fit the bill....
Billionaire 'bond king' Jeffrey Gundlach blasted stimulus checks for distorting markets — and warned inflation could threaten stock prices
Jeffrey Gundlach underlined the risks of excessive federal stimulus in a Yahoo Finance interview this week. He also warned sustained inflation could hammer stock prices, and suggested bitcoin's recent slump might indicate that market speculation is on the decline. The billionaire founder and CEO of DoubleLine Capital, whose nickname is the "bond king," said multiple rounds of stimulus checks have distorted several parts of the economy. They have fueled the sharp rise in US house prices over the past year, he said, and discouraged some recipients from working because they're "making more money sitting at home watching Netflix."...
US stocks rally as investors weigh stalling retail sales and inflation guidance
US stocks rose Friday, remaining on higher ground following flat monthly retail sales as investors appeared to lock into assurances by Federal Reserve officials that they will stick with monetary policies that support economic recovery. All three of Wall Street's benchmark indexes were on track to build on Thursday's gains that snapped a three-session losing streak. Advances for stocks Friday came even after the Commerce Department said retail sales in April were virtually unchanged from the previous month. The print missed the estimated 1% increase in sales from economists surveyed by Bloomberg....
Benzinga
US Senators On The Verge Of A $52B Chip Funding Deal Announcement: Reuters
A group of U.S. senators are on the verge of unleashing a $52-billion proposal to drive the U.S. semiconductor chip production and research over five years to tackle the growing Chinese semiconductor production and crisis impacting the automakers and other U.S. industries Reuters reports. The proposal includes $49.5 billion in emergency added appropriations to fund the chip provisions included in this year's National Defense Authorization Act....
Otonomy's OTO-825 Gene Therapy Can Restore Meaningful Hearing Function, Animal Study Shows
Otonomy Inc (NASDAQ: OTIC) may have hit a snag with the development of its lead ear disorder candidate Otividex. Still, the company is trumpeting an early win for a gene therapy designed to treat congenital hearing loss....
Why The CPI Inflation Number Was Not 'A Bearish Gamechanger' For Stocks
The SPDR S&P 500 ETF Trust (NYSE: SPY) took a big hit this week after the U.S. Labor Department reported a 4.2% rise in CPI for the month of April, the highest inflation reading since 2008. The big inflation number spooked investors who are concerned the $6 trillion in COVID-19 stimulus could trigger hyperinflation, but Sevens Report Research's Tom Essaye said Thursday the headline inflation number may not be as bad as it appears at first glance....
Barrons
What's Next for Wall Street Research? Big Themes, More Data
Candace Browning, head of global research at BofA Securities, lays out a blueprint for the industry's future, even in the face of changing regulations....
Nasdaq Sees AI Shaping the Market of the Future. Here's How.
Nasdaq President and CEO Adena Friedman outlines how to strengthen market infrastructure, build new marketplaces, and stay ahead of cyber criminals....
Steel Stocks Are Feeling the Squeeze From China
Beijing wants steel mills to help control the price of iron ore, a raw material key to making steel. Iron ore futures were down 10% on Friday....
U.S. Stocks Climb After Retail Sales Fall Short
While U.S. stocks continued to climb Friday, they remained on track for weekly declines amid an inflation scare and mixed signals from economic data....
It's Not Jimmy Carter's Inflation, but It's Still Worrisome. How to Beat It.
Rising prices don't necessarily presage a repeat of the 1970s. Still, it's wise to consider taking out some insurance against the possibility that they do....
Retail Sales Were Flat in April. Economists Expected Growth.
Excluding gasoline and cars, retail sales dropped 0.8% last month. Growth in March, when a round of stimulus checks hit people's wallets, was revised higher....
Snowflake Rises, Disney Slumps as Stock Market Gains Again
Stocks look set for a higher open Friday following weaker-than-expected retail sales....