Hello, readers!
Today is an important day for investors as we await the Federal Reserve's decision on interest rates. The central-bank chair, Jerome Powell, is expected to hold rates steady, but all eyes will be on his subsequent press conference for clues about the future rate path.
Recent data, such as Tuesday's wage-growth statistics, has not given the Fed confidence that inflation will continue to decline, causing concerns about inflation and rates to affect major indexes.
We'll take a look at retirement plans and the investment strategy that BlackRock's Larry Fink believes could dominate the business.
Stocks to watch today include:
- Amazon.com: Reported a surge in first-quarter sales
- Starbucks: Experienced a stock slide and CEO's pledge for a turnaround
- Pinterest: Reported earnings that beat expectations and a big acceleration in sales
- Advanced Micro Devices: Saw a slump in shares despite rising sales and profits
- Super Micro Computer: Experienced a slide in sales despite a significant rise
- GSK: Lifted its full-year guidance after exceeding expectations
BlackRock's new LifePath Paycheck funds are making waves as a potential default retirement investment strategy, with several companies already adopting this option for their employees' 401(k)s.
In other news, Bitcoin fell 17% in April, its largest monthly drop since June 2022, and U.S. wage growth picked up in the first three months of the year, remaining well above its prepandemic pace.
Finally, we have some must-reads for you:
- HSBC is looking for a new chief executive to run its operations at a fraction of the pay of a U.S. bank boss
- The founder of Binance, the world’s largest crypto firm, was sentenced to four months in prison for violating U.S. anti-money-laundering requirements
- An Asian property tycoon was sentenced to death for making a bank her personal ATM
Thank you for reading and stay tuned for more updates!
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