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Archives by Year:
BofA Boosts Micron’s PT To $144 Amid AI-Driven HBM Demand Surge
Image courtesy of 123rf.com Micron Technology’s (Nasdaq: MU) stock surged today after Bank of America Securities raised the company’s price target from $120 to $144, maintaining a Buy rating. The increase is attributed to Micron’s anticipated growth driven by the surging demand for high-bandwidth memory (HBM) in artificial intelligence (AI) applications. BofA Raises Micron Technology’s Price Target to $144 Based […]
Gross Domestic Income Shows America Is In Stagnation
Image source: Pixabay In a recent CNN poll, 48% of respondents stated that they believe the economy remains in a downturn, and only 35% said that things in the country today are going well. The disparity between somber economic sentiment and a surprisingly strong headline unemployment rate and Gross Domestic Product (GDP) can be easily explained.The […]
Monthly Data Starts Out With Slightly Positive News In Manufacturing, Slightly Negative In Construction
As usual, the new month’s data starts out with information on manufacturing and construction. To repeat what I have said often recently, these are the two sectors I am paying particular attention to for forecasting purposes this year.The ISM manufacturing index has been a good leading indicator in that sector for 75 years. The difference […]
New Week, Month And Quarter Begin – Back To Narrowness
As expected, Thursday was a very quiet day in the markets ahead of the long holiday weekend as well as closing out March and Q1. The government released its monthly Personal Consumption Expenditures (PCE) report which is a favorite of the Fed and it showed inflation came in as expected, up 0.3% for the month […]
Dow Down Triple Digits On Hawkish Fed Comments
The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are trading below breakeven this afternoon, with the blue-chip index now sporting a triple-digit deficit. This price action came after the personal consumption expenditures (PCE) price index for February met expectations, prompting Federal Reserve Chairman Jerome Powell to note that there […]
The Return Of U.S. Manufacturing Growth Lifts Optimism
The ISM manufacturing index surprised everyone by moving into growth territory for the first time since late 2022 with production jumping, new orders rising and inflation pressures increasing. Markets interpreted that as reducing the chances of meaningful Fed rate cuts, but construction was much weaker and there are a lot of jobs numbers still to […]
Fed Governor Chris Waller “There’s Still No Rush” To Cut Interest Rates
Chart from the BEA, highlights and blue captions by Mish.There’s Still No RushPlease consider Fed governor Chris Waller’s There’s Still No Rush speech at the Economic Club of New York, on March 27. We made a lot of headway toward our inflation goal in 2023, and the labor market moved substantially into better balance, all while holding […]
3M Healthcare Spinoff Solventum Slides On NYSE Debut
Image Source: Unsplash Solventum Corp (NYSE: SOLV) lost about 3.0% as it debuted on the New York Stock Exchange on Monday. The healthcare name was separated from 3M & Co (NYSE: MMM) in March. How much of Solventum is under 3M ownership? The manufacturing giant based out of Saint Paul, Minnesota still has a near 20% stake in […]
Softs Report – Monday, April 1
COTTON General Comments: Cotton was a little lower last week and trends started to turn down on concerns about the planting intentions report released Friday morning and despite improving ideas of demand potential from China. USDA said that 10.7 million acres might get planted this year, from 10.2 million last year. It is too early […]
XRP Price Discussion: Ripple CTO Addresses Myths And Realities
The post XRP Price Discussion: Ripple CTO Addresses Myths and Realities appeared first on Coinpedia Fintech NewsDavid Schwartz, Chief Technology Officer at Ripple, has intervened in the ongoing debate concerning XRP’s price. In a clear effort to dispel rumors, Schwartz emphasizes that a low XRP price does not necessarily benefit Ripple. He argues that a higher price might […]
