Wall Street opened with slight declines, with the Nasdaq down 0.4%, the S&P 500 down 0.1%, and the Dow Jones trading around base levels. The Atlanta Fed’s president, Rafael Bostic, stated in an interview that interest rate cuts in the US should begin later this year due to strong economic growth, recovering supply chains, and a robust labor market. According to Bostic, the Fed’s first interest rate cut may not happen until the end of 2024.
In the US, private sector employment data showed an increase of about 185 thousand jobs compared to 155 thousand in February, with workers’ wages increasing by 5.1% annually. Gilat reported orders totaling $30 million, including a recent order of over $5 million from the US Department of Defense. In Europe, inflation decreased in March, which may prompt the European Central Bank to consider lowering interest rates later this year.
Intel reported an operational loss in its production division, affecting its stock price. The largest high-tech employer in Israel faces challenges in the chip manufacturing market. Tesla saw a decline in new car deliveries in the first quarter despite lowering prices, signaling potential challenges ahead. Oil and gold prices rose to six-month highs due to tensions in the Middle East and Ukraine contributing to their increase.
Bank of America recommends investing in Disney due to its strong leadership and growth prospects. Analysts have differing opinions on when interest rate cuts will occur in the US; some expect them as early as June. Real estate companies also offer cash offers for homes but it is crucial for investors to carefully consider various factors before making a cash purchase.
Stay informed about market trends and economic indicators can help investors make smart decisions amidst a dynamic financial landscape.
In summary:
The US economy is growing strongly with increased employment data and rising wages while Europe is experiencing inflation decreases which might lead to lowering of interest rates later this year.
Intel faced operational losses while Tesla experienced decline in new car deliveries despite lower prices.
Oil and gold prices rose due to tensions while Bank of America recommended investing in Disney based on leadership and growth prospects.
Analysts have different views on timings of interest rate cuts with some expecting them as early as June while real estate companies offer cash offers for homes but it is important for investors to carefully consider various factors before making a cash purchase.
