Stock indices finished the trading session mixed, with the Dow Jones Industrial Average (DJIA) falling while the Nasdaq 100 (NDX) and the S&P 500 (SPX) gained. Additionally, auto loan delinquencies are increasing as car prices become unsustainable, and gas prices are on the rise.
Nvidia shares rise ahead of earnings report, AMC shares plummet as preferred equity is converted and reverse stock split is executed, Toll Brothers beats estimates, UPS shares rise after labor contract is approved, and US services PMI and new home sales are forecasted to improve.
U.S. stocks rose sharply as investors anticipated strong quarterly results from Nvidia and looked ahead to the Jackson Hole conference, with tech stocks expected to rally further.
Stocks surged as optimism built ahead of Nvidia's earnings report, despite disappointing economic data and mixed retail earnings, with Foot Locker's share price sliding and Abercrombie & Fitch beating expectations. Nvidia reported strong earnings, with revenue doubling, and investors are particularly interested in the company's comments on meeting the demand for AI chips and the future of the AI space.
Shares of Nvidia surged 6.7% to an all-time high after announcing a $25 billion stock buyback plan and reporting record quarterly revenue, driven by strong demand for its AI-focused chips.
The stock market rose in the first hour of trading Monday, with the Dow Jones being pulled up by 3M (MMM), while eyes are on consumer economic data and jobs numbers later in the week.
Stocks inched higher on Monday morning as investors awaited a busy week of economic data, with individual stocks such as 3M, XPeng, and Rite Aid making headlines. 3M's potential $5.5 billion settlement with veterans over faulty earplugs could be a positive catalyst for the stock, while XPeng's acquisition of DiDi Global's electric car development business boosted its shares. Rite Aid, on the other hand, faced bankruptcy planning amid ongoing legal issues.
Dow Jones futures and key economic data, including the Case-Shiller Home Price Index, FHFA Price Index, consumer confidence numbers, and the July JOLTS report, are impacting the stock market today. Additionally, several software stocks and companies like Best Buy, BYD, Nio, and Pinduoduo are making moves in earnings.
The Dow Jones Industrial Average rose 0.6% after weak economic data suggested a decline in the job market and consumer confidence, while the Nasdaq led with a 1.6% gain.
Dow Jones futures rose slightly overnight, with Salesforce.com and other software companies reporting strong earnings, while the stock market rally continues with a new uptrend confirmed.
The Dow Jones Industrial Average rose after the Labor Department's CPI inflation report, and oil prices hit a new high for 2023.
The Dow Jones Industrial Average rose after the release of key inflation data and initial unemployment claims, while Cathie Wood's Ark Invest sold a significant number of Tesla shares.
Stocks climb as investors digest positive retail sales and producer prices data, with the Dow Jones Industrial Average up 0.7% and the S&P 500 and Nasdaq Composite both up 0.7% and 0.8% respectively.
Dow Jones futures rose slightly along with S&P 500 futures and Nasdaq futures, while Adobe and Lennar headlined earnings; UAW auto strike now underway.
Stocks surged as the Dow Jones Industrial Average rose, driven by strong performances from Goldman Sachs, Caterpillar, and Arm, while the tech-heavy Nasdaq and the S&P 500 also saw gains; strong consumer data and positive economic indicators contributed to the market's optimism.
