The Federal Reserve held its May meeting in Washington, D.C. on May 4th, and ezy_invest has summarized the key points of the meeting:
- The Federal Reserve announced a 50-basis-point rate hike this month, higher than the 25-basis-point increase in the previous meeting. This is the first time since 2000 that the rate hike has reached 50 basis points, raising the federal funds rate to 0.75% - 1%.
- The Federal Reserve announced that it will start reducing its balance sheet on June 1st, with the first three months seeing a reduction of $47.5 billion per month ($30 billion from U.S. Treasury bonds and $17.5 billion from institutional bonds).
After September 1st, the balance sheet reduction will be accelerated to 95 billion per month (60 billion US Treasury bonds and 35 billion institutional bonds).
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There will be multiple technology growth stocks releasing quarterly reports this week, including Palantir (PLTR), Unity (U), Coinbase (COIN), and electric vehicle manufacturer Li Auto (LI).
Pre-market on Monday: PLTR, BNTX
After-market on Monday: AMC, LMND
Pre-market on Tuesday: PTON, LI
After Tuesday's closing: SOFI, RBLX, OXY, COIN, U
After Wednesday's closing: DIS, RIVN, BYND
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$Advanced Micro Devices (AMD.US)$ and $Micron Technology (MU.US)$ to hit all time high in the next 4 weeks due to current market condition of chip shortage. Micron Techonology has delivered a strong and competitive financial report in FY21 and soon to close up their financial year. Definitely a bullish sign for this potential stock. Go Micron!