Posted 4/12/2024, 4:38:00 PM
Stocks Mixed as Tech Rebounds but Broader Market Retreats on Inflation, Geopolitical Concerns; Banks Beat Views But Outlook Cautious
- Stock market rally showed mixed signals as tech rebounded but broader indexes retreated on inflation and geopolitical worries
- Inflation reports not as bad as feared but still hot; reduces chances of near-term Fed rate cut
- Major banks beat earnings views but guidance weighs on sentiment; Google unveils new AI chip
- Taiwan Semiconductor sales top estimates thanks to red-hot AI chip demand
- Delta Air Lines profits soar as business travel rebounds; guides in-line