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May 10th Stock Market Update Consumers are feeling less optimistic about the economy as inflation persists

May 10th Stock Market Update Consumers are feeling less optimistic about the economy as inflation persists

$BABA $ZS $PWSC

Mukund Mohan
May 10, 2024

Market

"The consumer sentiment survey posted a drop to 67 from 77 a month ago. Most consumers expect interest rates to stay high, inflation to stay high as well and unemployment to increase ” 😒 🤒

Dow and S&P still eked out gains, but NASDAQ was lower slightly

The market is definitely rotating from technology names to more diverse sectors. The consumer sentiment logged does help cyclicals, but technology stocks are still holding their own.

For the week still good gains in the indices overall.

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Still a good print on the 21 day Moving average, which means we still hold to go higher, until it proves to not go there.

Staying in strong names such as Amazon and Microsoft will help through this choppy time

Insights from my portfolio

$BABA Alibaba Group Holdings Ltd Deep Dive and 2024 Outlook

Alibaba, the Chinese e-commerce and technology infrastructure provider, offers a diverse range of products and services that cater to merchants, brands, retailers, and businesses globally.

stocksmarts.substack.com/p/baba-alibaba-group-holdings-ltd-deep