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S&P 500 & Dow touch intraday record highs as investors bet on second Trump term
At 12:01 a.m. ET, the Dow Jones Industrial Average had risen by 328.71 points, or 0.82%, to 40,329.61. The S&P 500 gained 40.53 points, or 0.72%, reaching 5,655.88, while the Nasdaq Composite increased by 163.54 points, or 0.89%, to 18,561.98. The S&P 500 financials index surged 1.5%, with Goldman Sachs reaching a record high after its second-quarter profit more than doubled. In contrast, Macy's shares plummeted 12.9% following the termination of buyout discussions with Arkhouse Management and Brigade Capital.
Dow, S&P 500 hit record as Wall Street rallies on rate cut bets
The Dow has underperformed the S&P 500 and Nasdaq in 2024, rising only 6.4%. Tech and semiconductor stocks have led market gains, while value stocks within the Dow have struggled. Despite a weak start to the earnings season and bank stocks falling, Wall Street indices have still advanced.
Nvidia pulls S&P 500 lower as small caps rally
Tesla's stock dropped 6.5% following news of a two-month delay in its robotaxi launch, as reported by Bloomberg. Apple shares dipped 2.4% after reaching a record high on Wednesday, despite BofA Global Markets increasing its price target due to anticipated strong iPhone sales fueled by new AI features.
S&P 500 tops 5,600 for first time; Nvidia-fuelled rally lifts Wall St before inflation data
The S&P 500 and the Nasdaq achieved their fifth consecutive intraday record highs, with the benchmark index surpassing the 5,600 mark for the first time. This surge was fueled by increased optimism for an interest-rate cut in September, following Jerome Powell's statement that the U.S. was "no longer an overheated economy."
Nasdaq, S&P 500 power on as Nvidia surge lifts tech stocks
Monday marked the 35th instance of the S&P 500 setting a fresh closing record this year, as sharp gains in AI-linked and other tech shares kept equity sentiment bright, offsetting the uncertainty around the Fed's rate-cut path. However, the Dow Jones underperformed, with a more than 1% fall in Salesforce and Microsoft being the biggest drags, while the rate-sensitive small-cap Russell 2000 dropped 0.4%.
S&P 500, Nasdaq notch record highs with inflation data, earnings in focus
The slower-than-expected June US job growth, as revealed in Friday's nonfarm payrolls report, has strengthened expectations of interest rate cuts as early as September. While investors seek further clarity on the Federal Reserve's monetary policy path, traders are now pricing in a higher probability of a 25-basis-point cut in September and a total reduction of approximately 50 basis points for the year.
Tesla, megacaps drive S&P 500, Nasdaq up; Powell in focus
Powell told a panel that recent economic data represented "significant progress," though noting the Fed needed to see more before changing policy. Meanwhile, Chicago Fed President Austan Goolsbee noted he sees some "warning signs" of economic weakness and that central bank's goal is to get inflation down without stressing the labor market.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
S&P 500 tops 5,500 after ‘near perfect’ economic data
Excluding the volatile food and energy components, the core inflation figure rose by 0.1% month-on-month and 2.6% year-on-year. According to LSEG FedWatch data, the probability of a rate cut in September increased to 68% from 61% prior to the release of the data. Despite the Federal Reserve's projections of only one rate cut this year, traders are maintaining their bets on two cuts, hoping for a continued decline in inflation and considering the economy's vulnerability to historically high interest rates.
US stocks edge up ahead of presidential debate, inflation data
The broad-based S&P 500 gained 0.2 percent to 5,488.04, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 17,863.99.
US stocks struggle for direction as investors evaluate tech trade
Financial markets experience shifts as key tech and retail companies show varied performance. Wall Street awaits crucial inflation data. Analysts predict possible sector rotation based on earnings and inflation trends.
Nvidia, megacaps power strong Nasdaq recovery; Dow pulls back
AI chip firm Nvidia soared 6%, recovering some of the steep losses it had notched in three consecutive declining sessions. At current levels, the stock is still 12% away from last week's record high. The Dow pulled back from a one-month high hit on Monday, while the small-cap Russell 2000 index also lost some steam.
Dow jumps nearly 1% amid broader market rally in countdown to inflation data
Investors anticipated remarks from Fed's Mary Daly amid discussions on sustained higher interest rates. As of 11:53 a.m. ET, the Dow Jones rose 0.88%, S&P 500 saw a slight gain, while Nasdaq dipped marginally.
S&P 500, Nasdaq lower as semiconductor shares weigh
AI chip firm Nvidia fell by 4.4%, following losses in the previous session that caused its market valuation to drop below Microsoft's. Other semiconductor stocks, including Qualcomm, Broadcom, Micron Technology, and Arm Holdings, declined between 2% and 5%, leading to a 2.2% decrease in the Philadelphia SE Semiconductor index.
Nasdaq retreats from record peak as investors brace for cautious Fed signal
Market expectations have remained strong for a September start to policy easing, with the CME's FedWatch tool indicating over a 70% chance of a rate cut at that meeting. Traders are anticipating two cuts by the end of the year. However, this contrasts with the central bank's latest forecasts released on Wednesday, where policymakers reduced their projections from three cuts this year to just one.
Wall St cautious ahead of key inflation data, Fed meeting
This week's focus includes the Consumer Price Index inflation report for May and the conclusion of the Fed's two-day policy meeting, both scheduled for Wednesday. The central bank is expected to release updated economic and policy projections and is widely anticipated to hold interest rates steady. The S&P 500 trimmed its early losses, while gains in Microsoft, Amazon.com, and Broadcom helped lift the Nasdaq slightly higher. These stocks rose between 0.8% and 2.5%.
NYSE glitch sparks volatility in dozens of stocks
A glitch at the NYSE caused major swings in Berkshire Hathaway and Barrick Gold shares, leading to trading halts in multiple companies. The issue was resolved, with impacted stocks resuming trading after a technical problem was fixed.
Nasdaq closes above 17,000; S&P 500 slightly higher, Dow down
Nasdaq crossed 17,000 for the first time boosted by Nvidia, while S&P 500 closed higher and Dow lower as Treasury yields rose.
Nvidia's split of soaring stock could boost retail investor appeal, Dow chances
Nvidia's stock split announcement, aiming to attract more retail investors and potentially join the Dow Jones Industrial Average, follows a surge in share price. The split could make stock ownership more accessible and boost interest among individual investors.
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