The Dow Jones surged 650 points to a new high of 54,740, and the S&P 500 also reached an all-time high, rising 0.7% to 7,790. However, tech stocks showed weakness with the Nasdaq up only 0.35%, dragged down by a 10% plunge in SpaceX shares after its first earnings report since listing, wiping $170 billion from its market value. AMD shares also fell despite strong revenue forecasts. Optimism around a potential Iran-Oman shipping agreement through the Strait of Hormuz and easing oil prices helped lift market sentiment. Investors are now focused on upcoming earnings from major companies like Eli Lilly, Disney, and Uber, while the ADP jobs report showed slower US private-sector hiring, potentially giving the Federal Reserve more room to cut rates.
The August jobs report showed stronger-than-expected job growth with 162,000 jobs added and unemployment steady at 4.1%, easing concerns about labor market weakness. This shifts the Federal Open Market Committee's (FOMC) attention fully to inflation ...
A TradingView analysis warns that AMD stock might face a severe correction of up to 90% by early December 2029, based on a long-term historical trading pattern. This bearish scenario compares AMD's current position in its ascending trading channel to...
Intel shares climbed 4% and other chip stocks like NVIDIA and AMD also rose, defying expectations that a strong jobs report and increased odds of a September Federal Reserve rate hike would hurt high-multiple tech stocks. The semiconductor sector out...
ARK Invest, led by Cathie Wood, purchased 705,102 shares of Rocket Lab during a recent stock decline, viewing the dip as a buying opportunity. Rocket Lab, valued at around $38 billion, is a smaller public rival to SpaceX, focusing on small-satellite ...
Nvidia is set to acquire Hugging Face, a leading open-source AI platform, for about $14 billion. Hugging Face hosts AI models and datasets freely used by developers, making it central to the AI community. This move helps Nvidia maintain influence ove...
