Our PureVest Weekly Roundup looked into the latest headlines from the past week. Federal Reserve Chairman Powell reiterated that he will remain patient on interest rate cuts; he has consistently said that rates will remain “higher for longer”. Despite ongoing tensions in the Middle East, oil prices were little changed this week. Retail Sales exceeded expectations, showing continued strength by the consumer despite higher interest rates. To sum it up… The economy and earnings are growing, and consumers are actively spending. If you were in charge of the Fed, would you rush to cut interest rates?
Netflix and Tesla made headlines this week. We wrapped it up with a preview of the upcoming NHL and NBA playoffs, both kick off tomorrow. Enjoy the light reading, and have a great weekend.
Markets & Economy:
Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation
source:www.cnbc.com
Oil prices get short-lived boost from attack on Iran
source:www.cnn.com
Retail sales jumped 0.7% in March, much higher than expected
source:www.cnbc.com
3 Reasons High Interest Rates Haven’t Stopped People From Spending
source:www.investopedia.com
Netflix now has nearly 270 million subscribers after another strong showing to begin 2024
source:www.apnews.com
IRS waives mandatory withdrawals from certain inherited individual retirement accounts
source:www.cnbc.com
Tesla lays off ‘more than 10%’ of its global workforce
source:www.electrek.co
Just For Fun:
Stanley Cup playoffs 2024 guide: Key players, teams, storylines
source:www.espn.com
The 13 Biggest Questions of the NBA’s First Round
source:www.theringer.com