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Federal Reserve holds interest rates steady, forecasts two more rate hikes this year (4 min read)
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The Fed kept interest rate unchanged at 5% - 5.25% but raised its forecasts to suggest two additional rate hikes this year, with some officials even anticipating rates nearing 6%. The decision reflects the Fed's focus on taming inflation, which remains elevated. The pause allows more time for the economy to adjust to previous rate hikes and assess the consequences of recent banking turmoil. Stock markets’ reactions were mixed, with sectors sensitive to rate increases declining after the news.

Another key inflation gauge fell sharply in May (2 min read)
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US wholesale inflation, as measured by the Producer Price Index (PPI), has cooled further, dropping to 1.1% annually in May, down from 2.3% in April. On a monthly basis, prices fell by 0.3%. This marks the 11th consecutive month of deceleration and the lowest reading since December 2020. The decline is attributed to lower energy and food prices according to the data. The PPI report came just a day after the Consumer Price Index and reaffirms that the US inflation is significantly cooling.

TSMC Hits $500 Billion Value as Investors Clamor for AI, Chips (2 min read)

TSMC has regained its $500 billion market cap after investors ramped up bets that the company is well-positioned to benefit from the AI boom. TSMC stock rose nearly 5% this week, bringing its 2023 gains to 32%, as investor interest in AI chip makers rise. With its strong performance this year, TSMC has also solidified its position among the world's top 10 valuable corporations. The surge in AI demand, highlighted by Nvidia and Oracle’s recent impressive revenue targets, is expected to drive sales of components and infrastructure required for AI developments.

Toyota shares hit 16-month high as shareholders endorse board, new EV strategy (2 min read)
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Toyota's shares rose 6.3% and hit a 16-month high after shareholders voted to retain Akio Toyoda as chairman, signaling support for the company's new electric vehicle strategy. Toyota recently unveiled plans for high-performance "next generation" batteries and technologies to improve the driving range of its electric vehicles. The company also aims to automate its production assembly. Despite some criticism of its strategy, Toyota plans to sell 1.5 million all-electric vehicles annually by 2026 and 3.5 million by 2030.

How to Use etf.com's Markets Monitor (4 min read)
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The Markets Monitor at etf.com is a useful analysis tool that can help investors follow major market trends through the lens of ETFs. It allows users to select specific ETFs to monitor trends in sector rotations, market indexes, investment styles, and international markets. This article breaks down the various elements of the Markets Monitor and how investors can use it in conjunction with further research and analysis for investment decisions.

Defense ETFs Outlook Clouded by Debt Burden (2 min read)
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ETFs focused on military spending are gaining popularity again as concerns over the debt ceiling ease. Despite fears of the US national debt, spending on defense will likely remain strong. For investors interested in this market, the article highlights three major defense-related ETFs: iShares US Aerospace & Defense ETF (ITA), Invesco Aerospace & Defense ETF (PPA), and SPDR S&P Aerospace & Defense ETF (XAR). These ETFs have different stock allocations and performances, but all have seen modest gains so far in 2023.

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