Fed Delivers Large Rate Cut In Bid To Sustain Labor Market; Stocks, Gold Set New Record Highs: This Week In The Markets
Portfolio Pulse from Piero Cingari
The Federal Reserve cut interest rates by 50 basis points, surprising economists and boosting stock and gold prices to record highs. The Fed's pro-growth stance is expected to benefit small-cap stocks, while mortgage demand rises due to lower rates. Apple faces weaker iPhone demand, and GM expands EV charging access.
September 20, 2024 | 8:03 pm
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POSITIVE IMPACT
General Motors expands EV charging access by opening 17,800 Tesla chargers to GM drivers, potentially boosting EV adoption and aligning with electrification goals.
By enhancing EV charging access, GM is likely to see increased EV adoption, supporting its electrification strategy and potentially boosting its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Apple's iPhone 16 pre-orders show weaker-than-expected demand, raising concerns about its market performance. However, analysts suggest potential surprises in upcoming earnings.
Weaker pre-order data for the iPhone 16 suggests potential challenges for Apple's market performance, which could negatively impact short-term stock prices. However, analysts' optimism about earnings could mitigate this effect.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80