U.S. stock futures are flat as the markets digest bank earnings, Twitter news, and retail sales — and more in Thursday’s stock market recap.
The markets rallied on Wednesday with both the S&P 500 and Nasdaq climbing 1.12% and 2.30%, respectively, to break their three-day losing streaks.
March retail sales grew 0.5%, just shy of the 0.6% estimate, with purchases declining in larger categories like auto and online sales.
Four major U.S. banks reported first-quarter earnings Thursday morning. Citigroup, Goldman Sachs and Morgan Stanley all came in ahead of estimates, sending shares of Goldman Sachs and Morgan Stanley up 2% while Citigroup rose 3% in premarket trading.
Tesla CEO Elon Musk offered to buy Twitter for $54.20 a share, just days after the world’s wealthiest person reversed course on joining the company’s board of directors.
In a letter to Twitter Chair Bret Taylor, Musk wrote: “Twitter needs to be transformed as a private company.” The news sent shares up 12% premarket.
In this morning’s stock market recap video, you'll discover why volatility is not responding to the war and instead falling… whether market internals are in the danger zone…. which sector persists higher… how China is impacting the U.S. stock market… plus one long and one short trade idea for Thursday.
On May 3, the Federal Reserve could do something it hasn’t done in over two decades…
Goldman Sachs expects it to raise interest rates by 50 basis points!
The last time the Fed did this, it sent shockwaves through the entire stock market. So I want to make sure we prepare our portfolios for what’s to come…
I’ve been working on something to get ready for this massive shift… And I’m going to break down the strategy and the No. 1 sector play I believe will rip once the Fed makes its move — for free!
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