Federal Reserve leaders spoke on Tuesday, outlining their thoughts on the current state of the economy. Pence Capital Management chief investment officer Dryden Pence, explaining," would like to pivot, but I think it continues to move to the right because you have this tremendous robustness of the American economy. I think what people have forgotten is we've added so many workers; we've added 6.1 million new people working in this country since the height of pre-pandemic.
So that's something that is not creating any kind of obstacle for some of the gains that we're seeing, but just basically kind of a rebound move today.It's been consolidating over the last five days or so, hasn't moved much.But I've been told I have a minute here. And you can also see uh an interesting dynamic in the NASDAQ versus the Dow dow is in the green here, NASDAQ is in the red.But uh I'm gonna be talking in 30 minutes about uh kind of a change in leadership that we're seeing and maybe this will last, maybe it won't.All those doomsayers, those naysayers who thought the uh the market was going to zero nvidia up 6% today, meta, up 2% alphabet up 2%.
And as we get into this back half of the year, I think you're gonna begin to see earnings pick up, uh, in the 493 the broadening out of the rally.So corporate CFO S understand their cost of capital, they can plan better. So there's some room for the rest of the 493 just to catch up and they don't even have to catch all the way up.Well, that's a, that's a pretty strong move for the rest of those companies.You got a lot more horses in the race now and drive.We heard from Governor Lisa Cook said it would be appropriate to reduce rates at some point.
So I think we just continue to shift, right, sooner or later they pivot uh a quarter of a point and then they're gonna kind of wait and see. Uh and in particular, the forecast is getting some attention here, the fiscal 2025 adjusted earnings per share, it is predicting will be at 20 to $22 a share.You can see uh revenue coming in in line with estimates and adjusted earnings per share at 541.So that also supportive of the shares and they are seeing a 9% gain here in uh just as we see the the first blush reaction to those numbers.
This is again, that broadening out thing we just talked about because you're beginning to see that earnings or in real time, it's playing out in real time, which is a good thing.
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