Go offline with the Player FM app!
April 28: Another Bank Failure, Tesla Drops Prices (again), US economy weakening (Recap ep275)
Manage episode 415293832 series 2483606
In Today’s recap, Marcello talks about the collapse of Republic First Bank as it served as a stark reminder of the vulnerabilities within the financial sector. Tesla’s shares surged by a remarkable 12.06%, propelling Nasdaq to its third consecutive day of gains. However, concerns loomed over the US economy as growth slowed to a sluggish 1.6% in the first quarter, the weakest pace since 2022.
The median U.S. home sale price hit a record $383,725 in the 4 weeks ended April 21, up 5.2% from a year earlier. The median asking price increased 6.7% to $415,925. With 30-year mortgages now charging an average 7.1% interest rate & home prices continuing to climb, the median monthly housing cost has risen +13% to a record $2,843. With home listings still in short supply, nearly a third, 29.8% of homes, are selling above their listing price. Only 6% of sellers are dropping their asking price.
Oil prices settled higher on Friday, garnering support from tensions in the Middle East, but a strong dollar & U.S. inflation data quashed hopes that the Federal Reserve would cut interest rates soon, giving prices a ceiling. Supply concerns supported prices as tensions continue in the Middle East.
Shares of U.S. based Chipotle Mexican Grill rose +6.33% on Thursday at $3,111.97 after the fast-casual burrito chain topped analysts’s Q1 estimates & reported a +7% rise in same-store sales, beating the +5.2% expected by StreetAccount. The stock is up +36.07% in 2024 & +50.51% year on year, with a market cap of $85.48B.
Intel made waves with the recent launch of its third-generation AI accelerator, Gaudi 3. Boasting impressive advancements, the semiconductor giant claims that the latest chip is twice as power-efficient and offers a processing speed that outpaces NVIDIA’s H100 GPU, the current market leader in AI chip technology.
Devastating tornadoes are tearing across parts of eastern Nebraska & Iowa on Friday, as a multiday severe thunderstorm event ramped up in the central United States.Storms began in parts of the Plains & South early Friday afternoon. The National Weather Service had received at least 42 reports of tornadoes as of 6:30 p.m. ET, in at least 3 states, including Texas, Nebraska & Iowa.The storm event is supposed to continue for 3 more days.
The post April 28: Another Bank Failure, Tesla Drops Prices (again), US economy weakening (Recap ep275) appeared first on Investing & Day Trading Education: Day Trading Academy.
303 episodes
Manage episode 415293832 series 2483606
In Today’s recap, Marcello talks about the collapse of Republic First Bank as it served as a stark reminder of the vulnerabilities within the financial sector. Tesla’s shares surged by a remarkable 12.06%, propelling Nasdaq to its third consecutive day of gains. However, concerns loomed over the US economy as growth slowed to a sluggish 1.6% in the first quarter, the weakest pace since 2022.
The median U.S. home sale price hit a record $383,725 in the 4 weeks ended April 21, up 5.2% from a year earlier. The median asking price increased 6.7% to $415,925. With 30-year mortgages now charging an average 7.1% interest rate & home prices continuing to climb, the median monthly housing cost has risen +13% to a record $2,843. With home listings still in short supply, nearly a third, 29.8% of homes, are selling above their listing price. Only 6% of sellers are dropping their asking price.
Oil prices settled higher on Friday, garnering support from tensions in the Middle East, but a strong dollar & U.S. inflation data quashed hopes that the Federal Reserve would cut interest rates soon, giving prices a ceiling. Supply concerns supported prices as tensions continue in the Middle East.
Shares of U.S. based Chipotle Mexican Grill rose +6.33% on Thursday at $3,111.97 after the fast-casual burrito chain topped analysts’s Q1 estimates & reported a +7% rise in same-store sales, beating the +5.2% expected by StreetAccount. The stock is up +36.07% in 2024 & +50.51% year on year, with a market cap of $85.48B.
Intel made waves with the recent launch of its third-generation AI accelerator, Gaudi 3. Boasting impressive advancements, the semiconductor giant claims that the latest chip is twice as power-efficient and offers a processing speed that outpaces NVIDIA’s H100 GPU, the current market leader in AI chip technology.
Devastating tornadoes are tearing across parts of eastern Nebraska & Iowa on Friday, as a multiday severe thunderstorm event ramped up in the central United States.Storms began in parts of the Plains & South early Friday afternoon. The National Weather Service had received at least 42 reports of tornadoes as of 6:30 p.m. ET, in at least 3 states, including Texas, Nebraska & Iowa.The storm event is supposed to continue for 3 more days.
The post April 28: Another Bank Failure, Tesla Drops Prices (again), US economy weakening (Recap ep275) appeared first on Investing & Day Trading Education: Day Trading Academy.
303 episodes
All episodes
×Welcome to Player FM!
Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.