From Nasdaq:

The Federal Reserve decides to maintain interest rates at 5.5% due to strong job gains and low unemployment. The Dow Jones on track for its best weekly gain in 2024. The central bank intends to cut rates at least three times this year, looking to bring inflation down to 2%.

Following the Fed’s decision, the market reacted positively with the Dow dropping 305.47 points. Nike’s 8% decline offset FedEx’s 8% rise. The S&P 500 lost 7.35 points, while the Nasdaq Composite increased by 26.98 points powered by gains in Apple and Google.

Despite recent market reactions, all three major averages hit record levels post-Fed meeting. GameStop reports earnings on Mar. 26, with Wall Street expecting earnings of 29 cents per share on revenue of $2.05 billion. The company faces challenges in its core business of physical game sales.

BlackBerry reports earnings on Mar. 27, expected to show a loss of 3 cents per share on revenue of $154.59 million. The company has been struggling to transition into IoT and cybersecurity software, with minimal growth in these segments. Analysts are cautious about any potential turnaround in the company’s fortunes.



Read more at Nasdaq:: Weekly Preview: Earnings to Watch This Week 3-24-24 (BB, GME)