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.
Investors are looking forward to after-the-bell earnings from Nvidia as the Dow, S&P 500, and Nasdaq are set to open slightly higher; Apple is now the most under-owned large-cap U.S. tech stock while Meta Platforms is the most over-owned.
Nvidia's strong earnings report has implications for other chip and AI stocks, leading to a potential rally attempt in the market, while Dow Jones and S&P 500 futures are mostly flat.
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.
Wall Street drifts following Nvidia's blowout profit report and mixed reports on the U.S. economy, with the S&P 500 slightly higher and the Dow Jones and Nasdaq showing mixed results.
Despite Nvidia's strong earnings, stocks closed lower due to mixed economic signals and the decline of big tech stocks such as Tesla and Amazon.com. Investors are awaiting Jerome Powell's speech for insight into interest rates, while the 10-year Treasury yield climbed and Dollar Tree's stock fell.
Summary: The Dow Jones Industrial Average and other stock indexes experienced significant declines as market attention shifted to the upcoming speech by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium, while Nvidia's gains were nearly wiped out after strong earnings and Tesla CEO Elon Musk issued a warning regarding the Cybertruck, although Box, NOV, and Automatic Data Processing showed strength.
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, were relatively unchanged after hours ahead of Fed Chief Jerome Powell's speech at the Jackson Hole symposium. The stock market rally attempt on Thursday was disrupted as major indexes reversed lower, with AI stocks such as Nvidia, Marvell Technology, and Adobe also experiencing reversals.
Stocks opened higher as investors awaited a key speech from Fed Chair Jay Powell, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all advancing, setting the stage for a rebound after Thursday's decline.
Investors expecting a continued surge in technology stocks due to enthusiasm over artificial intelligence may face trouble as central banks tighten monetary policy, according to Bank of America strategists. The correlation between central bank liquidity and tech stocks is a cause for concern, as central bank balance sheets have shrunk while the Nasdaq continues to climb, indicating potential risks ahead.
Tech shares boosted U.S. stock indexes despite higher yields on Treasurys, with investors scaling back on bets for interest-rate cuts due to the strong U.S. economy.
Tech-heavy Nasdaq Composite and S&P 500 close higher on Monday, while Dow Jones Industrial Average falls slightly; Bank of America analyst predicts insurers will increase customer prices due to increased climate change risk; Allianz economist believes Federal Reserve Chair Powell will focus on short-term monetary policy at Jackson Hole; Loop Capital warns of weak smartphone sales ahead of iPhone 15 launch; CFRA Research chief investment strategist expects year-end rally for stocks despite recession concerns; Homebuilding stocks begin to decline; AMC Entertainment falls ahead of stock conversion; Cybersecurity company SentinelOne explores potential sale; LPL Financial chief technical strategist says recent stock pullback is temporary and predicts end-of-year rally; Jefferies upgrades gold product manufacturer Acushnet Holdings; Nvidia's quarterly earnings report could be critical for the market, says Wolfe Research; Stocks making big moves midday, including XPeng, Eli Lilly, and Marriott Vacations Worldwide.
Tech stocks led a rally in the stock market, with the Nasdaq Composite gaining 1.6% and the S&P 500 ending a four-day losing streak, despite the rise in Treasury yields; investors will be looking for clues about the US consumer spending and the economy as retailers' earnings reports are expected, and Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole symposium is anticipated for indications on interest rates.
Stocks remained higher across the board as investors analyzed the impact of Fed Chair Jay Powell's speech and prepared for upcoming inflation and jobs data, with the Dow Jones, Nasdaq Composite, and S&P 500 all experiencing gains.
US equity markets were relatively stagnant last week, with major indexes trading up and down around their 200-day moving averages, indicating a lack of direction and potential resistance, while Treasury markets appeared to stabilize despite an inverted yield curve, suggesting a potential recession on the horizon. Fed Chair Jerome Powell's hawkish speech on Friday emphasized the need for caution and the possibility of higher interest rates, while Nvidia's strong earnings highlighted the company's dominance in the artificial intelligence sector.
Investors eagerly awaited Nvidia's earnings report, which beat expectations, but the market rally was short-lived due to Federal Chair Jerome Powell's speech at Jackson Hole, with the Nasdaq falling over 2% and bulls losing hope; however, there is optimism for a potential turnaround next week with upcoming economic data events.
Stocks were mixed on Friday after the US unemployment rate unexpectedly rose and more jobs were added to the economy than expected, with the Nasdaq entering negative territory while the S&P 500 and Dow Jones remained positive.
The stock market sinks as a tech selloff occurs due to investors' fear of more Fed rate hikes, with Apple, Tesla, and Nvidia all experiencing significant declines.
Stocks were higher on Monday, with the Nasdaq leading the way, as Apple stabilized and the CNBC Investing Club with Jim Cramer highlighted key events including Salesforce's Dreamforce event, Apple's iPhone 15 event, Google's search trial, upcoming inflation data, and the expiration of the UAW labor contract. Additionally, Meta Platforms is developing a new AI system to rival OpenAI's model, while Oracle's earnings are set for release, with analysts expecting upside from Oracle Cloud Infrastructure.
Stock indices finished today’s trading session in the green, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all gaining, while the energy sector fell and the consumer discretionary sector led; individuals held a relatively steady stance on inflation expectations but had growing concerns regarding employment prospects and obtaining credit, according to a report from the Federal Reserve Bank of New York, while Treasury Secretary Janet Yellen expressed confidence in the stability of the U.S. economy, citing controlled inflation and positive employment trends.
Asian markets experienced mixed results, with Australia's S&P/ASX 200 falling and Hong Kong's Hang Seng index dropping by about 1%, while Japan's markets were marginally positive; tech investor Paul Meeks plans to buy tech stocks after the correction, and Federal Reserve officials are feeling less urgency for another interest rate hike due to improved inflation data. Additionally, Apple shares fell amid China concerns but an analyst is holding off on shorting the stock, Morgan Stanley upgraded Tesla stock due to its autonomous driving supercomputer, HSBC revealed its "must see stocks" in the UK, and consumer discretionary stocks gave the S&P 500 an upward push.
Wall Street stocks traded mixed as investors awaited Wednesday's key inflation data, with the Nasdaq Composite retreating amid a tumble in Oracle shares, while the Dow Jones Industrial Average turned higher and tech stocks took center stage with Apple's iPhone 15 launch and anticipation for the blockbuster Arm IPO.
Stocks finished mixed on Wednesday as investors awaited consumer inflation data that could impact the Federal Reserve's future policy decisions. The Dow Jones fell 0.2%, the S&P 500 increased 0.1%, and the Nasdaq Composite climbed 0.3% after a previous decline. The Consumer Price Index showed a higher-than-expected increase in inflation, driven by rising energy prices, which could influence the Fed's decision on interest rates. The market also had its eyes on the Arm IPO and developments involving Apple and China. Meanwhile, the EU launched an investigation into China's subsidies for EV makers.
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.
The major indexes, including the Dow Jones, S&P 500, and Nasdaq, finished lower on Friday ahead of the Federal Reserve meeting next week, with tech stocks dragging the Nasdaq lower and the S&P 500 and Nasdaq both falling below their 50-day moving average.
Tech stocks led a retreat on Wall Street as investors were concerned about the Federal Reserve's hawkish stance and its decision to keep interest rates steady, causing the S&P 500, Dow Jones, and Nasdaq Composite to decrease; Goldman Sachs has delayed its forecast for a Fed rate cut to the fourth quarter of 2024.
Big Tech stocks, driven by the promise of artificial intelligence, are experiencing a slowdown in their massive rally due to the Federal Reserve's indication of a restrictive monetary stance, causing declines in some tech giants' stock prices.
The stock market had a cool summer with the Dow Jones up 0.5%, the S&P 500 down 0.4%, and the Nasdaq down 1.3% from June 21 to Friday, as big tech stocks experienced a slump while energy stocks performed well.