My top 10 things to watch Thursday, May 2 The S & P 500 and Nasdaq are higher Thursday, one day after they surrendered their post-Federal Reserve meeting gains and closed modestly lower. After leaving interest rates unchanged, Fed chief Jerome Powell essentially ruled out a hike as central bankers' next move. He said that cutting rates would only be considered when policymakers are confident that inflation is on its way to their 2% target.
Powell said during Wednesday's news conference: "I don't see the 'stag' or the 'flation,'" knocking down worries about stagnating economic growth and overheating inflation that arose whenwas released last week. The government is out with its April employment report Friday. Recent numbers have shown resilient job growth. Wages will be a key focus.calls the bottom in cellphones. Beats quarter on earnings and revenue.
Consumer wallets remain squeezed so there's often little left after paying for food, gas rent and childcare. Large platforms have been winning because they are selling everyday essentials at low prices.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade..
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