Investing.com -- RBC Capital Markets initiated coverage of Reddit with a Sector Perform rating and a $125 price target, citing both upside potential and risks as the platform navigates a transforming internet landscape.
Like most large AI stocks, Broadcom has experienced volatility this year. One Wall Street analyst thinks Broadcom has a much larger serviceable market ahead. The members include some of the most popular in the market -- Nvidia, Tesla, Apple, and Berkshire Hathaway, just to name a few.
Hedge funds globally returned a positive monthly return of 3% as of May 29, a JPMorgan prime brokerage note sent to clients on Friday and seen by Reuters on Monday showed. Industry returns were up 5% for the year so far, the note said. Stock picking hedge funds posted a 3% performance in May, while multi-strategy hedge funds trading many different strategies under one roof returned 2.5% and quantitative equity funds using systematic strategies returned 4.2%, the note said.
AXON trades near its 52-week high as strong device sales, rising ARR and new drone ventures fuel investor optimism.
NEW YORK (Reuters) -Atlanta Federal Reserve President Raphael Bostic said on Tuesday a strong economy gives the U.S. central bank time to weigh how tariffs will impact inflation and growth, while remaining open to the possibility of a single interest rate cut at some point later this year. "I continue to believe the best approach for monetary policy is patience," Bostic said in an essay released by his regional Fed bank. Speaking with reporters in a conference call, Bostic noted that in central bank forecasts released by the Fed in March he had penciled in a single rate cut for this year.
QQQ and IBIT led last week's $17B ETF inflows, as investors piled into tech, Bitcoin, and gold amid market resilience.
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Gold futures opened at $3,406.50 per ounce Tuesday, up 1% from Monday's close of $3,370.60. Gold's modest rise follows reports of escalating trade tensions between the U.S. and China, plus the announcement of a higher tariff on steel and aluminum imports.
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