The benchmark S&P 500 (SP500) on Friday posted its best weekly performance in 2024, snapping a two-week losing streak in the process. Wall Street's bull market reignited after the Federal Reserve's latest dot plot stuck with its third interest rate cut this year. Many market participants fear it will get even worse, and Fed Chairman Jerome Powell further allayed concerns with a relaxed stance on recent grim inflation reports. The S&P 500 (SP500) rose this week. +2.3%blue-chip company Dow (DJI) has been added +2.0%the tech-heavy Nasdaq Composite Index (COMP:IND) rose. +2.9%. Read a preview of next week's major events on Seeking Alpha's Catalyst Watch.
What would you do if your company's stock was worth several thousand dollars? Split each stock into 50 shares. The news sent Chipotle (CMG) stock higher in AH trading on Tuesday, but the deal still needs shareholder approval at its June 6 annual meeting. If approved, the company's shares are scheduled to begin trading on a post-split basis from the 26th. June 26th. Chipotle also announced a special one-time His Equity Grant for restaurant general managers and all crew members with 20 years or more of service. (83 comments)
The Fed still expects three rate cuts this year, according to a featured dotplot released Wednesday. This was enough to push Wall Street to new record highs, and gold also hit a new record, reaching over $2,200 per ounce. On the other hand, the FOMC's policy interest rate remained unchanged at 5.25% to 5.50%, but Jay Powell said that interest rate limits may be prolonged due to destabilizing inflation, and the range of interest rate cuts may be narrowed after 2025. I was warned that it was sexual. Other central banks also attracted attention, with the Bank of Japan ending negative interest rates for the first time in nearly a decade and the Swiss National Bank surprising investors with the first rate cut in a developed country. (169 comments)
The Biden administration is keeping an eye on Big Tech as it tightens its stance on antitrust laws. Last year, the Justice Department filed a lawsuit against Google (GOOG) over digital advertising, in addition to a previous case focused on internet search, while the FTC accused Google of illegally maintaining a monopoly and targeting META. He sued Amazon (AMZN). To unravel the acquisition of WhatsApp and Instagram. Apple (AAPL) is finally on the hit list, with the Justice Department accusing the iPhone maker of violating antitrust laws by monopolizing the smartphone market. The news was sent to Apple 4% slide More than $110 billion in market value was wiped out on Thursday. (262 comments)
Social media platform Reddit (RDDT) soars this week as interest in IPOs returns almost 50% Following the offering from AI chip play Astera Labs (ALAB), it made its market debut and achieved continuous success. About 8% of Reddit's float is reserved for power users, leading to speculation that RDDT could become a meme stock, especially for a company that has never made a profit in its nearly 20 years of existence. I'm calling. Ironically, some popular subreddits like r/WallStreetBets and r/stock have called his Reddit a “pump-and-dump scheme,” even though the money is coming in from advertising and content licensing deals. It may be. SA analyst PropNotes also called it the ultimate boom-bust stock. (109 comments)
