From Morningstar: 2024-04-29 06:23:00

Dan Kemp, Morningstar’s global chief research and investment officer, shares insights on key market performance and economic trends. In the US, first quarter GDP growth was 1.6%, lower than the forecasted 2.2%. PCE inflation stood at 2.8% over the last year versus the expected 2.7%. Investors seem relieved, focusing on long-term investments.

As the US earnings season progresses, technology giants like Microsoft, Alphabet, and Tesla have reported strong results, boosting the Morningstar US Technology and Communication Services index by 4.52%. AI investments are key, with concerns over spending by Meta. Chinese stocks, once unloved, are now attracting attention due to strong performance and long-term potential.

The Federal Reserve is expected to maintain interest rates this week, with a 97.6% probability of no change. Federal Chair Jerome Powell’s comments will be closely watched for hints on future rate directions. Investors with well-structured portfolios are advised to look beyond short-term speculations and focus on long-term plans.



Read more at Morningstar: Markets Brief: AI Leaders Excel in Earnings Season…