Stock Market News

Today's gains were largely driven Nvidia’s 11% surge, as beaten-down chipmakers rallied. Meanwhile, softer economic data further boosted bets that the Fed will signal a rate cut in September, with the potential for two more cuts being priced in before the year is out. The Nasdaq 100 forecast remains bullish from a technical point of view with the index holding above a key bullish trend line.

While the tech sector's struggles have dominated headlines, it's crucial to note that the broader stock market's performance is not solely dependent on the "magnificent 7" group of tech stocks. The Dow Jones Industrial Average reached its fourth consecutive record high on Wednesday, driven by sector rotation. The small-cap Russell 2000 index has also posted substantial gains lately, spurred by last week's inflation report showing consumer prices falling to 3.0% year-over-year in June.

Supporting stocks today was news of another weaker-than-expected inflation report. Treasury yields fell as a slowdown in producer prices measure of inflation bolstered the case for the Federal Reserve to cut rates this year.

US technology stocks extended their gains shortly after the open on Wall Street, helping the Nasdaq 100 to add to Wednesday's surge to new record highs, before pulling back slightly on profit-taking ahead of Friday’s key US jobs report.

Stocks have not responded in the usual way of cheering on weaker-than-expected data. The questions, are we finally headed for a long overdue correction now? The S&P 500 outlook is not bearish yet from a technical viewpoint, but the potential is there for that to change in the coming days.

Friday’s Core PCE data failed to reduce fears over "higher for longer" narrative on interest rates, ahead of a busy week for economic events. Risk appetite is also waning amid a lack of major fresh bullish catalysts.

S&P 500 analysis: Investors interpret Fed as slightly less hawkish than expected, but macro concerns remain. Attention turns to Apple, expected yo report a 10% decline in iPhone sales, before Friday's release of NFP and ISM services PMI.

Turo, a leading player in the peer-to-peer car-sharing industry, is reigniting its ambitions to become a publicly traded entity through an IPO.

In the wake of the dovish rate-cut euphoria that had propelled stocks to record highs at the close of the previous year, many investors are now left wondering whether they pushed stocks too high, too soon.

Panera's impressive revenue figures, particularly the $4.8 billion in 2022 sales, and its significant digital sales hint at a potentially strong IPO

The Circle IPO is anticipated post-SEC review, conditional on market and other factors, potentially as soon as the first half of 2024.

Risk appetite improved a little in early European trade, as the major EU indices and US futures bounced back a little. However, by mid-day, those gains had evaporated, although the downside was limited as traders were unwilling to commit in either direction ahead of key US employment data.

Chinese retailer Shein has privately filed for an IPO after slating plans to go public in 2022. Take a look at everything we know about the fast-fashion brand.

Previous 8-day declining streaks in the VIX have been bullish for the S&P 500, but patience is warranted.

Global stock indices continued to make strong gains, extending recovery from the previous session. Bets that the Fed is done with rate hike is what’s driving markets higher, while mixed technology earnings have reduced fears about overstretch valuations in the sector.

What stocks are being discussed and traded today, and which ones are experiencing the sharpest moves before the bell?