The MarketReader Minute
XLY advanced 0.7%, outperforming several S&P sectors despite mixed market breadth. Tesla, Ross Stores, McDonald’s, Lululemon, and GM were key contributors, while stronger-than-expected U.S. new home sales and optimism around lithium supply chains added momentum to the sector.
The MarketReader Minute
VGT fell nearly 1% alongside a broader S&P 500 pullback, after Fed Chair Jerome Powell cautioned on equity valuations and inflation risks. Apple, Nvidia, Microsoft, Oracle, and Adobe all traded lower, with Oracle under pressure from a planned bond sale and Adobe downgraded by Morgan Stanley.
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Boeing and EV makers surge on major orders and expansion news, while Wayfair sinks amid new tariff pressures.
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(VGT) fell after Fed Chair Jerome Powell flagged inflation risks despite potential rate cuts. Nvidia’s multibillion-dollar AI partnership with OpenAI failed to lift tech stocks, with Microsoft and Apple also retreating. Oracle announced a Texas data center expansion with OpenAI.
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Mixed economic signals in Europe as U.S. stock indices hit record highs amid Fed rate cuts and rising gold prices driven by geopolitical risks.
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VGT rose 1.7% after the Fed’s 25bps cut boosted equity sentiment. Nvidia’s massive AI partnership with OpenAI fueled optimism across chipmakers, while Apple gained on strong iPhone 17 sales. Oracle reaffirmed guidance with new co-CEOs, and Applied Materials advanced on an MSCO upgrade.
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Federal Reserve Cuts Rates, Boosting U.S. Stocks to Record Highs Amid Global Geopolitical Tensions and Rising Gold Prices.
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The Vanguard Information Technology ETF gained Thursday, lifted by rate cut optimism and sector catalysts. Nvidia’s $5B Intel partnership, Apple’s strong Asia demand, and Microsoft’s AI server push drove momentum, while Intuit advanced on upbeat AI revenue prospects.
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Bank of Japan holds interest rates at 0.5% amid inflation concerns, while UK retail sales rise and U.S.-China relations remain tense ahead of key talks.
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Federal Reserve Cuts Interest Rates, Boosting Market Sentiment Amid Mixed Economic Signals and Geopolitical Tensions.
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Markets await Federal Reserve's expected 25 basis point rate cut amid weakening labor conditions and persistent inflation, while UK core inflation eases slightly and Canadian securities see a surge in foreign investment.
The MarketReader Minute
XLE gained 1.7% alongside rising oil prices fueled by geopolitical tensions. Top holdings Exxon and Chevron drove the move, with Exxon extending monthly strength and Chevron securing a major gas transport agreement.
