Key Highlights from Last Week

• 📈 Major Indices Performance:
  • S&P 500: Rose by 4.72% in May, offsetting the 4.30% decline in April. Year-to-date, the index is up 10.48%.
  • Dow Jones: Experienced a significant surge, closing at record highs following positive election results in India.
  • NASDAQ: Continued its upward trend, driven by strong performances in tech stocks.
• 🏛️ Federal Reserve Actions:
  • The Fed maintained interest rates, with projections indicating a potential rate cut later in the year.
• 📉 Economic Indicators:
  • GDP Growth: Slowed to 1.6% in Q1 2024, below expectations.
  • Unemployment Rate: Remained low at 3.9%, with slower job growth in April.
  • Inflation: Moderating, with the Personal Consumption Expenditures Price Index expected to reach 2.2% by December.
• 🏠 Housing Market:
  • Home prices increased by 5.3% year-over-year in April 2024.
  • Mortgage rates remained high, around 7%, impacting affordability.
• 📉 Commodities:
  • US scrap market prices declined due to lower demand.
  • Crude oil prices showed a slight decrease, contributing to lower inflationary pressures.

Top Stocks to Watch

• 📊 High Volatility Stocks:
  • Innovative Eyewear Inc (NASDAQ: LUCY):  104.91% YTD.
  • OneMedNet Corporation (NASDAQ: ONMD): -230.41% YTD.
  • Aeye Inc (NASDAQ: LIDR): -60.75% YTD.
• 💡 Bargain Stocks:
  • Coterra Energy (NYSE: CTRA): Strong dividend yield and projected free cash flow growth.
  • Starbucks (NASDAQ: SBUX): Consistent performance with growth potential.
  • Intel (NASDAQ: INTC): Undervalued with potential for recovery.
• 🚀 Growth Stocks:
  • Nvidia (NASDAQ: NVDA): Strong long-term growth potential.
  • Amazon (NASDAQ: AMZN): Continues to dominate e-commerce and cloud computing.
  • Mercado Libre (NASDAQ: MELI): Leading e-commerce platform in Latin America.

Projections for Next Week

• 📈 Market Sentiment:
  • Positive sentiment expected to continue, driven by strong corporate earnings and easing inflationary pressures.
  • Potential volatility due to geopolitical events and economic data releases.
• 🏛️ Federal Reserve:
  • Investors will closely watch for any signals regarding future interest rate cuts, which could further boost market sentiment.
• 📉 Economic Data Releases:
  • Retail Sales: Expected to show moderate growth, reflecting strong consumer spending.
  • Housing Starts: Anticipated to remain stable, with a focus on affordability and inventory levels.
• 📊 Sector Performance:
  • Technology: Expected to continue its strong performance, driven by innovation and earnings growth.
  • Energy: Potential for gains as oil prices stabilize and demand increases.
  • Real Estate: Mixed outlook, with high mortgage rates impacting affordability but increased inventory providing some relief.

Key Events to Watch

• 📅 June 12, 2024: Business Formation Statistics release.
• 📅 June 18, 2024: Advance Monthly Sales for Retail and Food Services.
• 📅 June 20, 2024: New Residential Construction data release.

Conclusion

The stock market is poised for a dynamic week ahead, with several key economic indicators and corporate earnings reports set to influence market movements. Investors should stay informed and be prepared for potential volatility, while also looking for opportunities in undervalued and high-growth stocks.Stay tuned for more updates and happy trading! 📈🚀Key Highlights from Last Week

• 📈 Major Indices Performance:
  • S&P 500: Rose by 4.72% in May, offsetting the 4.30% decline in April. Year-to-date, the index is up 10.48%.
  • Dow Jones: Experienced a significant surge, closing at record highs following positive election results in India.
  • NASDAQ: Continued its upward trend, driven by strong performances in tech stocks.
• 🏛️ Federal Reserve Actions:
  • The Fed maintained interest rates, with projections indicating a potential rate cut later in the year.
• 📉 Economic Indicators:
  • GDP Growth: Slowed to 1.6% in Q1 2024, below expectations.
  • Unemployment Rate: Remained low at 3.9%, with slower job growth in April.
  • Inflation: Moderating, with the Personal Consumption Expenditures Price Index expected to reach 2.2% by December.
• 🏠 Housing Market:
  • Home prices increased by 5.3% year-over-year in April 2024.
  • Mortgage rates remained high, around 7%, impacting affordability.
• 📉 Commodities:
  • US scrap market prices declined due to lower demand.
  • Crude oil prices showed a slight decrease, contributing to lower inflationary pressures.

Top Stocks to Watch

• 📊 High Volatility Stocks:
  • Innovative Eyewear Inc (NASDAQ: LUCY):  104.91% YTD.
  • OneMedNet Corporation (NASDAQ: ONMD): -230.41% YTD.
  • Aeye Inc (NASDAQ: LIDR): -60.75% YTD.
• 💡 Bargain Stocks:
  • Coterra Energy (NYSE: CTRA): Strong dividend yield and projected free cash flow growth.
  • Starbucks (NASDAQ: SBUX): Consistent performance with growth potential.
  • Intel (NASDAQ: INTC): Undervalued with potential for recovery.
• 🚀 Growth Stocks:
  • Nvidia (NASDAQ: NVDA): Strong long-term growth potential.
  • Amazon (NASDAQ: AMZN): Continues to dominate e-commerce and cloud computing.
  • Mercado Libre (NASDAQ: MELI): Leading e-commerce platform in Latin America.

Projections for Next Week

• 📈 Market Sentiment:
  • Positive sentiment expected to continue, driven by strong corporate earnings and easing inflationary pressures.
  • Potential volatility due to geopolitical events and economic data releases.
• 🏛️ Federal Reserve:
  • Investors will closely watch for any signals regarding future interest rate cuts, which could further boost market sentiment.
• 📉 Economic Data Releases:
  • Retail Sales: Expected to show moderate growth, reflecting strong consumer spending.
  • Housing Starts: Anticipated to remain stable, with a focus on affordability and inventory levels.
• 📊 Sector Performance:
  • Technology: Expected to continue its strong performance, driven by innovation and earnings growth.
  • Energy: Potential for gains as oil prices stabilize and demand increases.
  • Real Estate: Mixed outlook, with high mortgage rates impacting affordability but increased inventory providing some relief.

Key Events to Watch

• 📅 June 12, 2024: Business Formation Statistics release.
• 📅 June 18, 2024: Advance Monthly Sales for Retail and Food Services.
• 📅 June 20, 2024: New Residential Construction data release.

The stock market is poised for a dynamic week ahead, with several key economic indicators and corporate earnings reports set to influence market movements. Investors should stay informed and be prepared for potential volatility, while also looking for opportunities in undervalued and high-growth stocks.Stay tuned for more updates and happy trading! 📈🚀

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