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Dell, Sandisk and Micron led an AI sell-off, masked by megacaps such as Apple. SpaceX undercut its IPO price. Taiwan Semi, GE Aerospace earnings are due.
Apple shares rose 4% to $327.50, a new all-time closing high. The Cyberspace Administration of China on Wednesday included Apple’s generative artificial intelligence on a list of newly approved providers. Evercore ISI analyst Amit Daryanani wrote that the update clears the biggest regulatory hurdle for Apple Intelligence—the company’s AI software—in the world’s largest smartphone market.
FINANCE U.S. stocks edged higher Wednesday as gains in megacap technology names offset weakness in chip stocks. PayPal surged on reports of a takeover offer and another round of strong bank earnings kept Wall Street in an upbeat mood.
(Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexe
Inflation data gave investors hope on Wednesday morning. Semiconductor stocks took it away by lunchtime.
3M's hot new optical technology for data centers is being deployed by Microsoft Azure, the companies announced on Wednesday. MMM stock is a top performer on the Dow Jones Industrial Average on Wednesday, flashing an early buy signal. 3M said on its April 21 earnings call that its new expanded beam optics technology had received validation and a significant order from a hyperscaler, which has apparently now been revealed to be Microsoft.
The earnings season is full steam ahead, and tech stocks are leading the march higher. All three major indexes were in the green to kick off Wednesday’s session. The tech-heavy Nasdaq rose 0.7%. The S&P 500 gained 0.
July 15 (Reuters) - Wall Street's main indexes opened higher on Wednesday, as investors weighed softer-than-expected producer inflation data and a flurry of corporate earnings, while PayPal surged on
The main US stock measures were trending higher in Wednesday's premarket activity as traders await t
Pre-Market Stock Futures: Futures are trading higher after a nice bounce-back day for Wall Street, as a tepid June consumer price index report, combined with the President dropping the big Strait of Hormuz tolls, brought buyers back to the table. When the final bell rang, all of the major indices finished the day higher. The ... Here Are Wednesday’s Top Wall Street Analyst Research Calls: Allstate, AMC Entertainment, Boeing, CAVA Group, Check Point Software, Digital Realty Trust, FedEx, IBM, UPS
US stocks appeared set for a steady start on Wednesday as investors drew confidence from strong bank earnings and a softer-than-expected inflation report the day before, even as oil prices remained elevated following fresh US strikes on Iran. Nasdaq futures were up 0.5% ahead of the opening...
U. S. stock futures traded modestly higher on Wednesday after inflation data came in below expectations, easing concerns that the Federal Reserve may need to raise interest rates in the near term.
Stocks looked set to rise again on Wednesday, building on gains from the previous session that were powered by a solid start to the second-quarter earnings season and cooler-than-expected inflation data. Nasdaq 100 futures added 0.4%. Dow Jones Industrial Average futures rose 81 points, or 0.2%.
The focus turns to Wednesday's release of the Producer Price Index after the latest Consumer Price Index data showed the largest single-month decline in inflation since April 2020.
Investing.com - U.S. stock futures edged higher on Wednesday after a softer-than-expected inflation reading eased fears that the Federal Reserve may soon raise interest rates.
There's more to U.S. inflation than just energy prices.
It was a jam-packed day for the markets: earnings season started strong, oil futures fluctuated, Federal Reserve Chairman Kevin Warsh testified in front of lawmakers, and the latest June inflation report delivered a cooler-than-expected reading that should make policymakers hold off on raising interest rates—for now. The Dow closed just above the flatline at 0.02%. The Nasdaq Composite was up 0.9% and the S&P 500 finished the day up 0.4%.
<body><p>STORY: U.S. stocks closed mostly higher on Tuesday, with the Dow ending little changed, the S&P 500 adding almost four-tenths of a percent and the Nasdaq gaining nine-tenths of a percent.</p><p>Second-quarter earnings season began with five big U.S. banks reporting solid results, buoyed by trading strength and dealmaking.</p><p>Shares of Goldman Sachs surged 9%, while JPMorgan Chase and Bank of America also closed higher.</p><p>Robert Conzo, CEO and managing director of The Wealth Alliance, said he expects corporate earnings this quarter to remain strong which should help markets advance.</p><p>"When you look at the earnings estimates for the second quarter, it's at 23.6 [percent], north of 20. That's coming off of a first quarter earnings of about 27 [percent]. Again, a huge number north of 20. The last time that happened was in the first and second quarter of 2021 when we were coming off of Covid. So these are big earnings projections going forward. The market was looking for that because all eyes on earnings in the face of sticky inflation.”</p><p>But inflation was a little less "sticky" in June, as Tuesday's release of the Labor Department's Consumer Price Index showed the annual inflation rate dropped to 3.5%, due largely to receding oil prices that have since rebounded.</p><p>Other stocks on the move Tuesday included U.S.- listed shares of SK Hynix, which soared more than 27% after tumbling on Monday following a strong Friday debut.</p><p>And shares of IBM plummeted more than 25% after the tech company warned second-quarter revenue would fall below estimates.</p></body>
Many of the same factors have propelled big banks’ strong performance: a solid economic backdrop with low unemployment, corporate clients’ appetite for executing big deals, and lots of trading activity.
