The MarketReader Minute
Microsoft has announced a partnership with Ituran Location and Control and Porsche to improve real-time data telemetry for racing teams in Brazil, Argentina, and Portugal for the upcoming season.
The MarketReader Minute
The U.S. core consumer price index (CPI) rose by 0.2% in July, aligning with market expectations and slightly up from June's increase of 0.1%. On an annual basis, the core CPI increased by 3.2%, marking its lowest level since April 2021.
The MarketReader Minute
NVIDIA returned significantly, contributing the most to the ETF's performance. Apple maintained its $3 trillion market cap and is set to launch the Apple Intelligence and iPhone 16 series with AI capabilities.
The MarketReader Minute
Significant contributors to the ETF's performance included ExxonMobil, ConocoPhillips, Occidental Petroleum, Schlumberger, and Marathon Petroleum, all of which posted negative returns.
The MarketReader Minute
Significant contributors to this performance included Starbucks, which saw a notable return following the appointment of Brian Niccol as its new Chairman and CEO, alongside Amazon, Tesla, Booking Holdings, and TJX, all of which posted positive returns.
The MarketReader Minute
Some of the largest macro moves in the market today include: Ethereum -3.0%. Nasdaq 100 Index (US) +0.9%. USD/CNH -0.2%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) +3.5%.
The MarketReader Minute
AMD made headlines with its acquisition of Silo AI for $665 million to enhance its AI solutions. Micron Technology faced a price target reduction by Mizuho analyst, dropping from $155 to $145, although the Outperform rating remains intact.
The MarketReader Minute
Chevron has commenced oil and gas production from its Anchor project in the deepwater U.S. Gulf of Mexico, utilizing advanced high-pressure technology and an all-electric facility aimed at reducing carbon emissions.
The MarketReader Minute
In the broader market context, the Russell 2000 Index has also decreased by 0.13%, reflecting a cautious sentiment that may be affecting biotech stocks. This overall market movement coincides with the ETF's downward trend.
The MarketReader Minute
Some of the largest macro moves in the market today include: Ethereum +4.6%. Copper +1.4%. Nikkei 225 Index (Japan) +1.6%. Some of the largest moves among US mega-cap stocks include: Eli Lilly and Co (LLY) +1.7%. Walmart Inc (WMT) +0.8%.
The MarketReader Minute
Significant contributors to VGT's performance include NVIDIA, which fell sharply amid news of its CEO selling shares and competition from a new AI chip in China. Apple is facing antitrust scrutiny related to its search engine practices, potentially impacting its business model.
The MarketReader Minute
In the broader market context, the S&P 500 Index has declined by 0.49%, reflecting a similar downward trend that may be influencing the performance of consumer discretionary stocks.
