Beat the street: Inflation; Gamestop; AMC; Trillium
Nasdaq hit intraday record highs after the US inflation print, while the dollar index eases. Google parent Alphabet opens a new tab and unveils a new product called 'Trillium'. Plus, love them or hate them. Meme stocks are back.
(AI Video Summary)
Market anlaysis with Chris Vecchio
In today's episode of "Beat the street," Angeline Ong and her guest Chris Vecchio from tastylive provide insights on current financial markets. Key points include a discussion on the latest CPI and retail sales figures, indicating a market adjustment rather than significant concern ahead of the June FOMC meeting. They highlight the unexpected stabilisation after a warmer PPI print, suggesting room for stock market highs. Vecchio notes potential market strategies amid these revelations, emphasising a continued market uptrend.
Retail and company news
Attention is also given to consumer pressures, reflected in flat retail sales and potential slowing economic growth. The dialogue touches on the resurgence of meme stocks, strategic corporate responses to market conditions, and the impact of recent earnings reports from major companies like Home Depot and Cisco. AI's role and Alphabet's new product Trillium are spotlighted, hinting at tech sector momentum. Lastly, there's a brief analysis of oil demand and supply, alongside gold's price trajectory, suggesting a cautiously optimistic market outlook.
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