Investors should be aware of the following five essential points before beginning the trading day:
1. Climbing The Fed decided to hold, an economic data came in lower than anticipated, and the markets mostly recovered. Despite no adjustment in interest rates, investors were upbeat when the Federal Reserve stated that “modest further progress” had been made towards its 2% inflation target. For the first time, the S&P 500 closed above 5,400 on Wednesday after rising 0.85%.
2. Two for one On a double-day week for economic news, the Federal Reserve signalled that it expects to drop rates once before the year ends, having previously suggested three rate cuts in March.
3. Wide split On Wednesday, Broadcom boosted its sales projection for the year and topped earnings estimates for the second fiscal quarter. Additionally, the chipmaker announced a 10-for-1 stock split, with shares due to trade on a split-adjusted basis starting on July 15. In premarket trade on Thursday, shares surged 13% as a result.
4. Is the Alamo Drafthouse still in mind? cameras, screens, and lights. A major Hollywood studio will own a chain of movie theatres for the first time in almost 75 years. Sony Pictures revealed on Wednesday that it had purchased the Alamo Drafthouse brand of dine-in theatres. Before the ban on studio ownership of movie chains was repealed in 2020, Sony was the only one to make an investment in a theatre company.
5. What’s the next step? Has the game come to an end? The selling of GameStop stock accelerated on Wednesday in the afternoon. The call options held by meme stock leader Keith Gill, also known on social media as “Deep——-Value” and “Roaring Kitty,” saw a jump in trading volume at the same time.
Source (CNBC)
