Happy Tuesday, Zingernation! If you know me, you know I love landforms. Yup, I’m talking mesas, valleys, peninsulas. Throw in a fjord and now you’re really talking my language. But not all landforms are created equal, and there’s one I sure don’t love: Plateaus.

Whether it's my gym gains or my golf game (I’ve been stuck at a 10 handicap for 3 years now), it’s frustrating when progress stalls. The market, I’m sure, can relate. Today, our old friend Pumpin’ Powell became Pooh-pooh-in’ Powell, when he pooh-poohed investors’ rate cut hopes by stating there’s been a “lack of further progress” on inflation this year.

Which begs the question of which will come first: The Fed cutting rates, or me breaking 80?

Today’s Price Action:

$SPY: -.18%
$QQQ: +.01%
$DIA: +.18%

Also, want to capitalize on the smart home industry boom? If so, check out today’s partner, Ryse.

And, did someone forward you this email? Click here to subscribe to this Benzinga newsletter and more.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Powell Delays Fed Rate Cuts, Says 'We Need Greater Confidence In Inflation': 2-Year Yields Spike To 5%

Briefly: Jokes aside, here are the key takeaways from Federal Reserve Chair Jerome Powell’s latest speech.

So Basically: Powell acknowledged that the U.S. economy has been notably robust over the past year, with the labor market moving into a better balance despite ongoing strength.

But Then: The Fed Chair noted that “recent data show a lack of further progress on inflation” toward the central bank’s 2% target rate.

Specifically: Powell emphasized that although the 12-month core PCE inflation remained relatively unchanged at 2.8% in March, there was growing momentum in the 3-month and 6-month pace.

Quoted: “We have stated that we need greater confidence in inflation before considering lowering interest rates. However, the recent data has not given us greater confidence that inflation is heading toward the 2% target.”

Click here to read more.

PRESENTED BY RYSE

Missed Out On Ring And Nest? Don’t Let RYSE Slip Away!

Ring 一 Acquired by Amazon for $1.2B
Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to

Secure your stake before the offer closes.

Click here to read more!

FIVE MOVERS

United Airlines shares soared higher after the company delivered some strong earnings, despite headwinds in the airline industry.

Bank of America and other bank stocks closed lower today after the company reported earnings before the bell.

Tesla stock continued its skid today, falling lower on reports of unexpected Cybertruck delays.

AMC Entertainment shares soared higher today, on higher-than-normal trading volume as the meme stock is trending again on social media.

AMD’s stock closed higher today after getting some love from analysts at both Evercore and HSBC.

ONE TRADE IDEA FOR TOMORROW

Wall Street Veteran Expects Zero Rate Cuts In 2024

Briefly: Wall Street veteran investor Ed Yardeni has spotlighted potential turbulence ahead for the S&P 500 index, forecasting a “classic 10% correction” in the coming months.

So Basically: Analyzing recent economic indicators, Yardeni noted, “The U.S. economy refuses to land and rising yields are starting to weigh on the stock market.”

So Then: His observations follow a robust retail sales report for March, which prompted the Atlanta Fed’s GDPNow model to adjust its Q1 real GDP growth estimate up from 2.4% to 2.8%, with consumer spending also revised upward.

So What? “That’s neither a hard nor a soft landing. The U.S. economy is still flying high,” Yardeni said, indicating sustained economic momentum, which may negate recessionary fears, but also tempers expectations of a rate cut.

Click here to read more.

PRESENTED BY RYSE

Missed Out On Ring And Nest? Don’t Let RYSE Slip Away!

Ring 一 Acquired by Amazon for $1.2B
Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to

Secure your stake before the offer closes.

Click here to read more!