?? Powell Puts Rate Cuts On Ice
S&P 500 5,051.41 -10.41 (-0.21%)
Dow Jones 37,798.97 +63.86 (+0.17%)
NASDAQ 15,865.25 -19.77 (-0.12%)
Market close: April 16, 2024
Breaking NewsFederal Reserve Chair, Jerome Powell, announced late on Tuesday that stubborn inflation and a still-strong U.S. economy meant restrictive policy needed more time to work. Reuters reports.
(Source: Wikimedia Commons by Federalreserve )
The Warm Up
PeloGone: Peloton has quietly removed its unlimited free-membership tier on its fitness app less than a year after it debuted because the initiative was failing to convert users into paid subscribers, the company said. CNBC reports.
CyberScare: UnitedHealth Group has announced it was expecting to take a hit of up to $1.6 billion this year related to a data breach at its Change Healthcare unit. Reuters reports.
Deepfake: Meta’s Oversight Board is set to evaluate the company’s handling of deepfake pornography amid growing concerns that artificial intelligence is fueling a rise in the creation of fake, explicit imagery as a form of harassment. CNN reports.
EV-Shock: Tesla job cuts have heighten Wall Street concerns that the EV maker is facing a demand problem. “There is nothing I hate more, but it must be done,” Musk wrote in a memo about the layoffs. CNBC reports.
Unseated: Samsung has regained its position as the top mobile phone-maker globally, having been beaten by Apple late last year. The latest quarterly data from research firm IDC said overall global smartphone shipments increased 7.8% on this time last year, but Apple shipments dropped by nearly 10%. The Independent reports.
InDemand: Intel will release two AI chips with reduced capabilities for the Chinese market, in order to comply with U.S. export controls and sanctions. The two chips, HL-328 and HL-388, are scheduled for launch in June and September. Reuters reports.
A Question About Risk
Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Friday from 11am ET, as our risk management educator.
What are the future trends in risk management and how should you prepare? When it comes to trends in risk management, there’s nothing new under the sun. If you’re talking about tools, I suspect there will be AI tools that are coming out in the near future, if they have not come out already. In terms of trends, I'm hoping that we start to see a new trend, because we've been the same trend forever. That is: prior to starting out with real money, you need to figure out how much risk capital you want to put into this endeavour – and again, that doesn’t mean you have to put it all into your trading account at once. Then, you need to decide how much of your capital you’re going to risk per trade on a percentage basis. Once you’ve learned what percentage of your capital you want to risk, you’re now able to move forward with any technical risk management trend. As a trend, I see technology designed to help you in your current path of risk management, but it won’t change the core of what risk management is.
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on April 16.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
1. $WISA: WiSA Technologies
Total gain: (245%)
The company announced today that it has executed its fourth 5-year WiSA E licensing agreement with a fourth major HDTV/PTV (Projection TV) brand. Benzinga reports.
2. $PALI: Palisade Bio
Total gain: (43%)
The company announced the successful completion of its analysis evaluating ex-vivo bioactivation of PALI-2108. Benzinga reports.
3. $ARRW: Arrowroot Acquisition
Total gain: (41%)
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
ASML ASML Holding
1Q 2024
Before Market Open Estimate: 3.43 Actual: 3.37
LVS Las Vegas Sands
1Q 2024
After Market Close Estimate: 0.61 Actual: N/A
VLVLY Volvo
1Q 2024
Before Market Open Estimate: N/A Actual: 0.67
Today’s Key Economic Dates
Time (ET) / Report / Period
2:00 pm Federal Reserve’s Beige Book
5:30 pm Cleveland Federal Reserve President, Loretta Mester, speaks
7:15 pm Federal Reserve Governor, Michelle Bowman, speaks
Extra-Time
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Parting Thoughts
"The obvious rarely happens, the unexpected constantly occurs."
― Jesse Livermore
Sourced in: Trade and Grow Rich: Adventurous Journey to Successful trading Indrazith Shantharaj, Kirankumar Nayak · 2018
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