BIDU Jul 2024 88.000 put

Powell testimony Day 2, S&P 500, Cava CEO: Morning Brief

Federal Reserve Chair Jerome Powell continues his second day of testimonies before the Senate, informing US lawmakers on Capitol Hill on the state of the economy and how Fed officials are approaching the likelihood of cutting interest rates. Additionally, Tesla (TSLA) has shifted into high gear the past week, notching its tenth straight day of stock gains in yesterday's trading session. The Morning Brief hosts Seana Smith and Brad Smith help investors start the day off right, reporting on the biggest stock market (^DJI, ^IXIC, ^GSPC) movers and top economic data. The S&P 500 (^GSPC) has been ripping, tearing, and roaring higher, closing Tuesday's session at a new record high for the 36th time this year. Oppenheimer chief investment strategist John Stoltzfus comes onto the program to discuss why he is raising his S&P 500 year-end target even higher to 5,900. BMO Wealth Management US Chief Investment Officer Yung-Yu Ma expresses the idea that economic conditions may be "healthy [enough] for risk-taking" should the Fed opt to begin a rate-cutting cycle. More than a year after its market debut last June, Mediterranean fast-casual chain Cava (CAVA) has seen tremendous year-to-date gains in 2024. Cava co-founder and CEO Brett Schulman joins The Morning Brief team in-studio to talk about the value the chain presents to the restaurant industry and customers alike. Other top trending tickers on the Yahoo Finance platform include the Chinese tech and EV manufacturer Baidu (BIDU), Carvana (CVNA), Volkswagen (VOW3.DE, VWAGY), and Chipotle Mexican Grill (CMG) after CFO Jack Hartung announced his plans to retire at the end of the year. This post was written by Luke Carberry Mogan.