The First Slice for Tuesday, February 27, 2024

The First Slice for Tuesday, February 27, 2024

In the hustle and bustle of the stock market, U.S. stocks saw a dip on Monday as investors geared up for a week filled with crucial economic data and sought fresh catalysts to drive the market upward. Despite a recent surge thanks to Nvidia’s strong quarterly results, the Dow stumbled, partly due to the 2-year Treasury yield hitting its highest mark in three months. Investors, however, seemed to overlook recent earnings reports from Big Tech companies, indicating a broader focus on macroeconomic indicators.

The optimism in the market stems from better-than-expected earnings and growing excitement around artificial intelligence (AI). Michael Landsberg, Chief Investment Officer at Landsberg Bennett Private Wealth Management, predicts that 2024 could be the year AI takes center stage, with companies reaping the rewards from AI-driven innovations. Yet, he warns that not all companies will succeed in this arena, suggesting that much of the AI hype may prove exaggerated for some.

Looking ahead, this week promises significant data releases, including the revision to fourth-quarter U.S. gross domestic product (GDP) and January’s personal-consumption expenditures (PCE) price index. Analysts are particularly attentive to the PCE data, as it serves as the Federal Reserve’s favored inflation gauge. Expectations are rife, with economists predicting potential shifts in the Fed’s rate-cut outlook depending on the PCE numbers. Investors might anticipate a possible rate cut in May if the data surprises on the cooler side. Conversely, a hotter-than-expected reading could challenge the Fed in its quest to rein in inflation to its 2% target.

Amidst this economic whirlwind, new-home sales data for January showed a modest uptick, adding to the mix of factors influencing market sentiment. Additionally, appearances by several Federal Reserve speakers throughout the week add another layer of anticipation…………First-Slice-e1700879991202 The First Slice for Tuesday, February 27, 2024[read more]

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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