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- May 6th Stock Market Update - Stocks zoom up on interest rate cut hopes
May 6th Stock Market Update - Stocks zoom up on interest rate cut hopes
$CPNG $W $AUR
Mukund Mohan
May 06, 2024
Market
“It seems like the pullback is over and given the ceasefire news in the Middle east and not so strong jobs number with low GDP growth means, we should expect a rate cut soon - CFRA chief investment analyst” 😊 😋
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All 3 indices moved strongly up with a nearly 1% gain each
The pullback in Nvidia, Microsoft, Tesla, Apple, Google and Meta have all been bought as Amazon heads to new highs. Even mid cap stocks got off to a great start.
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Technology stocks especially software names did very well today
Meta, SNAP and Pinterest all reported good growth in Ad revenue, so expect communications to continue its march up this quarter.
Insights from the portfolio
Video of the day
Today’s video is on Wayfair, $W the home goods eCommerce marketplace that’s a hit among millennials.
