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Stocks kicked off Wednesday's session higher, extending the week's broad rally. The S&P 500 was on pace to set another record high, up 0.6%. The Dow Jones Industrial Average rose 1.1% or 600 points, also on track for a fresh record.
8.30am: ADP jobs softens US private-sector hiring slowed to 44,000 jobs in July from 98,000 in June, missing the 65,000 forecast and pointing to cooling labour demand. The softer reading could give the Federal Reserve more scope to cut rates, weighing on Treasury yields and the dollar...
Yahoo Finance's Josh Lipton takes a closer look at the top stories for investors to watch on Wednesday, Aug. 5, including ADP's private payrolls data and earnings results from Eli Lilly (LLY), Disney (DIS), and Sandisk (SNDK).
SanDisk shares have rocketed over 400% this year and traders are piling in ahead of a make-or-break earnings report, but the pre-announcement surge may have already priced in the good news.
Investors were once again trying to make sense of comments from Elon Musk on Wednesday, after the SpaceX CEO said his rocket and AI company would exclusively use Nvidia chips from now on. AMD was the S&P 500's worst performer ahead of the opening bell, slumping 8.7% as Musk's announcement overshadowed a second-quarter earnings beat. Nvidia's own shares climbed 2%.
Citadel’s purchase of the bulk of the stock portfolio of the AI-focused hedge fund Situational Awareness helped propel its performance last month. Citadel’s flagship Wellington fund, a more diversified vehicle that includes wagers on and against shares alongside credit, commodity, macro and quant positions, gained about 6% in July, while Citadel’s tactical-trading fund gained about 11%, the person said. Citadel snapped up the AI stocks from Situational on July 30, at a discount of greater than 10%, as the San Francisco-based firm was scrambling to raise cash to meet margin calls following a brutal tech selloff, The Wall Street Journal previously reported.
Sandisk has bounced hard off its lows, setting up a limited-risk options trade ahead of earnings.
(Bloomberg) -- A dramatic turnaround in technology stocks has powered a $3.5 trillion increase in the Nasdaq 100’s market capitalization in just four days, driven by strong earnings that have emboldened investors about the AI outlook.Most Read from BloombergTrump Says Iran Talks Going Well as Hopes Rise for Hormuz DealTaco Bell Met With Michigan on Parasite Weeks Before RecallBeer Dynasty Families Sell €731 Million Stake in AB InBevChina’s AI Blitz Creates ‘Death Zone’ for Rival US Model MakersS
Sandisk and Kioxia unveiled a 332-layer QLC 3D flash tech offering up to 60% greater bit density than their eighth-gen design.
Today Federal Reserve speakers: Fed governor Lisa Cook Economic data: the Energy Information Administration’s weekly petroleum status report, U.S. services PMI, global services PMI, ADP employment survey Earnings (a.
SanDisk stock jumped 10% after a new AI memory milestone with SK Hynix, just ahead of its fiscal Q4 earnings report.
Everyone is watching AI chipmakers, but the real battle may be unfolding in memory, and SK Hynix is leading the charge.
Following Leopold Aschenbrenner's fund Whale Rock's flagship fund fell 21.7% in July as AI and chip stocks slid.
REVIEW PREVIEW NEWSLETTER Good Vibes and Blue Skies. Summer heat and humidity may be setting in, but markets are showing no signs of wilting. The gains keep piling up in the first few days of the August as strong earnings, hopes of a sustained ceasefire in the Middle East and a renewed optimism in AI drove major indices higher on Tuesday.
Hard drive makers Sandisk and Western Digital are due to report earnings after the closing bell Wednesday.
Sandisk could work its way back to this number post-earnings.
Sandisk enters its Q4 earnings report with strong momentum as AI-driven demand and improving NAND pricing position the company to deliver another impressive quarter.
Yahoo Finance Markets and Data Editor Jared Blikre examines how semiconductor stocks and the "Magnificent Seven" are once again pushing markets higher.
Anyone who bought a laptop or built a gaming PC this year already felt memory prices climb. DRAM and NAND flash have gotten steadily more expensive as AI data centers absorb nearly every chip factories can produce, according to a Bloomberg analysis. On August 3, SK hynix and Sandisk released the ...
SNDK's fiscal Q4 top line may gain from surging AI data center demand and stronger edge sales tied to AI PCs and premium smartphones.
Sandisk (SNDK) is back in focus after a 47% slide in July, with investors weighing that sharp pullback against strong AI storage themes, fresh HBF standards news, and closely watched earnings this week. See our latest analysis for Sandisk. After a steep pullback that left Sandisk roughly 48% below its late June peak and down 26.2% on a 30 day share price return basis, recent gains including a 17.5% 7 day share price return and a very large 1 year total shareholder return suggest momentum has...
Did Sandisk and SK Hynix just solve the HBM supply crisis?
The HBF standard is designed to make it easier for AI systems using processors from different vendors to work together through a common memory architecture.
Memory stocks are staging a violent reversal after their worst month in years, and a brand-new industry standard from rival chipmakers may have just changed the rules of the AI storage race.
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