đź“Š The Plot Thickens

The Fed announces its policy decision tomorrow, but investors will be watching the dot plot. Plus, has Tesla bottomed out?

Happy Tuesday, Zingers! I’m lucky enough to have several friends with pick-up trucks, so I don’t usually pay for movers. Unless, of course, said movers are big tech stocks — and there were plenty of those today. $NVDA and $AAPL each moved higher throughout the day, taking the S&P 500 from what was shaping up to be a red day to a new all-time high.

Today’s Price Action:

$SPY: +.56%
$QQQ: +.25%
$DIA: +.82%

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TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
plot discover GIF by Australian Survivor

Briefly: The Federal Open Market Committee (FOMC) meeting, which ends tomorrow, is the pivotal event for the markets this week.

So Basically: The Fed is widely expected to hold rates steady. But investors will tune in regardless for another critical piece of information: The Fed’s “dot plot.”

So Then: The Fed’s dot plot provides valuable insights into potential future monetary policy decisions. Each dot represents what a Fed policymaker expects interest rates to be in the future.

So What? The average of these dots gives a general idea of where rates might head. But, of course, it’s more like a weather forecast than a guarantee.

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FIVE MOVERS

United Healthcare shares moved slightly higher today after the company resolved issues related to a cyberattack.

Endava stock closed higher today following bullish coverage from an analyst at JPMorgan Chase & Co.

ShiftPixy stock got crushed today, closing down more than 20% after announcing an offering.

Hoth Therapeutics shares shot higher today after announcing positive data related to its Alzheimer’s treatment.

Semiconductor names like Intel and AMD moved lower today (besides $NVDA) as investors appear tentative ahead of the FOMC meeting.

ONE TRADE IDEA FOR TOMORROW
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Briefly: Tesla shares are down more than 30% for the year. But Jim Cramer thinks it can’t go much lower.

What Happened: On CNBC’s Squawk On The Street today, Cramer told viewers he believes Tesla shares have fallen too far. “The writing off of the EVs is a little premature,” Cramer said. “We’re all going to be driving EVs by 2030.”

Back Up: Tesla shares have been under pressure in recent months as the broader EV industry wrestles with weak demand trends. The carmaker has engaged in a pricing war with competitors in an attempt to mitigate the effects of slowing demand. But price cuts have negatively impacted margins.

Why It Matters: Tesla recently announced that it would increase prices for all Model Y vehicles in the U.S. by $1,000, beginning April 1. The EV maker also said it would increase prices by more than $2,000 in multiple European countries.

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