https://www.howestreet.com/2025/05/expect-stock-markets-to-rally-over-short-term-mark-leibovit/

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After moving sharply higher over the course of Monday’s session, stocks turned in another strong performance during trading on Tuesday. The Nasdaq and the S&P 500 reached their best closing levels in well over two months, with the S&P 500 turning positive for 2025.

The Nasdaq and the S&P 500 pulled back off their best levels going into the end of the day but remained firmly positive. The Nasdaq jumped 301.74 points or 1.6 percent to 19,010.08 and the S&P 500 climbed 42.36 points or 0.7 percent to 5,886.55.

The narrower Dow, on the other hand, spent most of the day in negative territory before closing down 269.67 points or 0.6 percent at 42,140.43.

The continued strength in the broader markets came following the release of a Labor Department report showing consumer prices in the U.S. rose by slightly less than expected in the month of April.

The Labor Department said its consumer price index inched up by 0.2 percent in April after edging down by 0.1 percent in March. Economists had expected consumer prices to rise by 0.3 percent.

Excluding food and energy prices, core consumer prices also rose by 0.2 percent in April after creeping up by 0.1 percent in March. Core consumer prices were also expected to climb by 0.3 percent.

The report also said the annual rate of growth by consumer prices slowed to 2.3 percent in April from 2.4 percent in March, while the annual rate of growth by core consumer prices was unchanged at 2.8 percent.

The slightly tamer-than-expected inflation data eased concerns about President Donald Trump’s new tariffs on U.S. trade partners leading to higher prices.

Yesterday’s news about a U.S.-China trade deal slashing steep tariffs on each other’s goods also contributed to the extended rally on Wall Street.

Meanwhile, a steep drop by shares of UnitedHealth (UNH) weighed on the Dow, with the healthcare giant plunging by 17.8 percent.

The nosedive by UnitedHealth came after the company suspended its full-year guidance and announced Andrew Witty is stepping down as CEO for personal reasons.

Sector News

Computer hardware and semiconductor extended the surge seen during Monday’s session, contributing to the strong upward move by the tech-heavy Nasdaq.

Considerable strength was also visible among airline stocks, as reflected by the 2.9 percent jump by the NYSE Arca Airline Index.

Oil producer, networking and brokerage stocks also saw notable strength, while healthcare, biotechnology and pharmaceutical stocks showed significant moves to the downside.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan’s Nikkei 225 Index jumped by 1.4 percent, while Hong Kong’s Hang Seng Index tumbled by 1.9 percent.

Meanwhile, European stocks moved modestly higher on the day. The German DAX Index and the French CAC 40 Index both rose by 0.3 percent, although the U.K.’s FTSE 100 Index closed just below the unchanged line.

In the bond market, treasuries saw further downside following the steep drop seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.2 basis points to a nearly three-month closing high of 4.499 percent.

Looking Ahead

A lack of major U.S. economic data may lead to relatively light trading on Wednesday ahead of the release of an avalanche of data on Thursday.

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Supreme Court Justice Ketanji Brown Jackson, who this week condemned the attacks President Donald Trump and his allies have made against judges who are blocking the administration’s policies, failed to take historic precedent into her comments, according to Harvard Law professor emeritus Alan Dershowitz on Newsmax Friday.

“This is not new,” Dershowitz told Newsmax’s “The Record With Greta Van Susteren.” “Thomas Jefferson attacked judges appointed by John Adams much, much more ferociously. [Abraham] Lincoln attacked judges, indeed, suspended the writ of habeas corpus. Franklin Delano Roosevelt intimidated judges, threatened that he would pack the court, and that resulted in the switch in time that saved nine.”

Jackson, speaking at a judges’ conference in Puerto Rico Thursday, said that the attacks against judges are “not random” but are designed to “intimidate those of us who serve in this critical capacity,” reported Politico.

She also called the threats from the administration “attacks on our democracy, on our system of government,” and said they “ultimately risk undermining our Constitution and the rule of law.”

But Dershowitz told host Greta Van Susteren that Jackson has “no credibility unless she puts her criticisms in historical context” and goes after Senate Minority Leader Chuck Schumer, D-N.Y., for his comments about the judiciary or after other judges.

“Arguments between the judiciary and the executive are as old as our nation,” Dershowitz said.

Dershowitz acknowledged that he also says “rotten things about judges,” adding he’ll “continue to do so as long as judges do rotten things and don’t obey the Constitution.”

Judges are not above the law, he continued.

“The judge who sat on the disgraceful New York trial of Donald Trump for doing something that wasn’t even illegal deserves condemnation,” Dershowitz said, referring to Trump’s records case.

“The judge in D.C., who didn’t recuse himself, notwithstanding the fact that his daughter is deeply involved in deportation — these judges deserve to be criticized. I will continue to criticize them, as I have in my 60-year career.”

Judges, he added, “deserve acceptance based only on the quality of their opinions, not on the fact that they’re wearing robes.”

Dershowitz also argued that lawyers who won’t fight against judges are “cowards” who are afraid on behalf of their clients.

“I have been in courtrooms where judges have done horrible things, and the lawyers whispered to me, ‘Oh, my God, I wish I had the guts to stand up and tell him what I think,'” he said. “But judges take it out on lawyers who don’t treat them with the kind of reverence that they want to be treated with. So I’m completely in favor of judges being subject to scrutiny and to criticism.”

Dershowitz also said that Trump’s convictions in New York will be appealed, even though a sentence wasn’t handed down, and he believes it will ultimately reach the Supreme Court.

“He gave a sentence that was a nonsentence, but it’s enough to end the case and allow him to appeal,” said Dershowitz of New York Judge Juan Merchan. “The court may say, ‘Wait a minute. There was no sentence, so we have no jurisdiction.’

“I don’t think they’re going to do that. I think they’re going to handle the appeal. I think they’re going to reverse the conviction. And if they don’t reverse the conviction, a higher court will. This is the weakest case in my 60 years of practicing law that I have ever seen.”

https://tinyurl.com/yyfkya7c

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FCC chair Brendan Carr sent a letter to Disney CEO Robert Iger stating, “Numerous reports indicate that Disney’s leadership went all in on invidious forms of D.E.I. discrimination a few years ago and did so in a manner that infected many aspects of your company’s decisions.”

ABC News does not fall under the FCC’s purview, but ABC’s eight-owned and operated stations are, and it wants to review whether they have violated any FCC equal employment opportunity regulations.

In addition, the FCC will also look at ABC’s policy that at least 50 percent of characters in TV pilots be from underrepresented groups.

For its part, Disney, in a statement, said, “We are reviewing the Federal Communications Commission’s letter, and we look forward to engaging with the commission to answer its questions.”

This is familiar territory for ABC News, which has already come under scrutiny from President Donald Trump. Last December, the news division settled its lawsuit with the president for $15 million over comments that anchor George Stephanopoulos made on a March 10, 2024 edition of his Sunday show, This Week.

As part of the settlement, the network included an editor’s note in the online article accompanying the broadcast, which stated: “ABC News and George Stephanopoulos regret statements regarding President Donald J. Trump made during an interview by George Stephanopoulos with Rep. Nancy Mace.”

The Associated Press reports that Disney has altered some of its D.E.I. positions in recent months. For example, it has changed the language at the beginning of some of its movies from “negative depictions and/or mistreatment of peoples or culture” to “this program is presented as originally created and may contain stereotypes or negative depictions.”

It joins NBCUniversal and Paramount Global as media companies with ties to news operations receiving the FCC treatment since the beginning of the second term of the Donald Trump administration.

The FCC does not have direct jurisdiction over NBCUniversal properties. Still, the news division could be affected by the outcome of the investigation due to its parent company, Comcast, cable and high-speed internet business, as they fall under the regulatory oversight umbrella of the FCC.

NBCUniversal is also expected to finalize the spinning off of its cable units into a separate company in the next few months, which will require government approval.

Meanwhile, Paramount Global is in the final stages of its merger with Skydance Media and needs government approval, too. On top of that, CBS News’ Sunday night newsmagazine, 60 Minutes, is facing a $20 billion lawsuit brought on by the president, who alleges the news network engaged in “deceitful” editing of a 60 Minutes interview with former Vice President Kamala Harris.

Carr made an official request for the unedited interview transcript, leading the network to publicly release the transcript and video footage of the interview on its website.

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A YEAR OLD BUT STILL A GOOD ARTICLE

https://slate.com/business/2024/02/cnbc-investing-advice-bad-making-money.html

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https://www.youtube.com/@NewsmaxTV/featured

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THE CASE FOR ABOLISHING THE FEDERAL RESERVE

https://www.youtube.com/@NewsmaxTV/featured

COME ON, DAD. IT’S TIME TO EAT

DISCLAIMER:

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