Top 4 Stocks About to Reach Their 52-Week High

A 52-week high is a technical indicator used by some of the world's top traders and investors to determine the current and future value of a stock. In this report we reveal today's top 4 stocks about to reach their 52-week highs.

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Warren Buffett's "Mystery Stock"

Fed's Stance On Inflation, Job Market Performance, And Peter Schiff Slamming Jerome Powell: Top Economic Updates This Week

Benzinga Neuro
May 05, 2024

The past week was a rollercoaster ride for the financial world, with the Federal Reserve’s stance on inflation and interest rates taking center stage. The week also saw a cooling job market and renowned economist Peter Schiff’s critique of the Fed’s policies. Here’s a quick recap of the top stories.

Fed’s High Interest Rates Need More Time: Bank of America
According to Bank of America’s U.S. economist Michael Gapen, the Federal Reserve’s lack of confidence in reducing interest rates due to recent inflation surprises has led to a scenario of higher-for-longer interest rates. The focus now shifts to the Fed’s future policy actions, particularly regarding potential rate cuts. Read the full article here.

Wall Street Braces for Hawkish Shift on Inflation
Investors are on edge as policymakers meet following a slew of higher-than-anticipated inflation readings that have dashed hopes for near-term interest rate cuts. The focus now shifts to the central bank's stance, specifically concerning the potential scope and timing of an anticipated rate-cutting cycle. Read the full article here.

See Also: Federal Reserve Dismisses Rate Hike Fears, Labor Market Cools, Apple Lures Investors With Record-Breaking

Powell Reassures Market, Says Interest Rate Hike ‘Unlikely’
Federal Reserve Chair Jerome Powell emphasized the need to allow more time for restrictive monetary policies to bring inflation toward the Fed's 2% goal. Addressing concerns about potential rate hikes due to recent inflationary pressures, Powell said it’s unlikely that the next policy rate move will be a hike. Read the full article here.

April Job Market Performance Misses Expectations
The U.S. labor market’s performance in April missed expectations, providing some evidence of cooling economic momentum and potentially leaving the door open for interest rate reductions later this year. U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March. Read the full article here.

Peter Schiff Criticizes Jerome Powell’s Dismissal of Stagflation Concerns
Renowned economist Peter Schiff expressed skepticism over Federal Reserve Chair Jerome Powell's dismissal of stagflation concerns. Schiff criticized Powell's inability to recognize the signs of stagflation, comparing this to previous Federal Reserve misstatements. Read the full article here.

Read Next: Ray Dalio Gives A Nod To Larry Summer’s Contention That Federal Reserve In A ‘Treacherous Environment’: ‘

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