The Vanguard Information Technology ETF advanced with gains from Apple’s strong iPhone pre-orders, Intel’s $4B Altera deal with Silver Lake, and Broadcom’s new street-high target. Oracle and Microsoft also added to sector strength.
The Consumer Discretionary ETF outperformed the S&P, with Tesla surging on upbeat delivery estimates and Elon Musk’s share purchase, while Amazon advanced on logistics upgrades in Mexico. Booking, Starbucks, and TJX also added to sector strength.
Markets React to Weak Economic Data and Anticipated Central Bank Policy Changes Amid Rising Inflation Concerns.
Adobe topped estimates with Q3 revenue of $5.99B and EPS of $5.31, boosting sentiment across the tech sector. (VGT) posted gains as Microsoft rallied on an OpenAI partnership update, Apple held steady despite iPhone delays in China, and Micron hit a record high ahead of Q4 results.
Federal Reserve's anticipated 25-basis-point rate cut drives global market optimism amid mixed economic signals.
XLF gained 1.6% alongside fresh S&P 500 and Dow records, fueled by stronger-than-expected CPI data and rising jobless claims that reinforced expectations of a Fed rate cut next week. Top contributors included JPMorgan, Mastercard, Bank of America, and BlackRock.
Micron jumped nearly 8% on hyperscale demand forecasts and a Citi price target hike, while Synopsys rebounded 13% after a steep selloff, aided by ARK’s fresh stake.Oracle, however, slid 6% as investors questioned the scale and timing of its $300B OpenAI deal.
XLY advanced nearly 2%, tracking broad sector gains as August CPI rose 0.4% and annual inflation accelerated to 2.9%. Surging jobless claims lifted expectations of Fed rate cuts, with Tesla, Home Depot, and Lowe’s driving XLY’s performance amid wider market optimism.
U.S. inflation rises to 2.9%, fueling speculation on Fed rate cuts, while ECB holds rates steady amid stable European inflation and rising U.S. jobless claims signal labor market concerns.
(VGT) rose 1.0% as softer August PPI data and weaker job revisions boosted expectations for Fed rate cuts. Oracle reported $7.2B in cloud revenue despite missing Q1 estimates, Broadcom unveiled a four-year AI-driven $120B revenue target, and Microsoft advanced AI education initiatives.
U.S. Producer Prices Fall, Boosting Market Optimism for Fed Rate Cut Amid Record Highs in Equity Indices and Rising Oil Prices Due to Geopolitical Tensions.
Diversified Energy Co. PLC announced a $550 million acquisition of Canvas Energy, adding 147 MMcfe/d in Oklahoma production alongside reserves valued near $690 million. Meanwhile, crude prices surged above $63 per barrel after an Israeli strike in Qatar.
The MarketReader Minute
U.S. inflation data and Fed rate cut expectations drive market shifts, while European political instability raises investor concerns amid mixed economic signals globally.
The MarketReader Minute
VGT gained 0.7% since Friday, supported by optimism over potential Fed rate cuts and global growth signals. Broadcom surged on a major AI chip order from OpenAI, Oracle rose on analyst upgrades tied to AI infrastructure, while Adobe held ground despite a trimmed target.
The MarketReader Minute
IBB fell 0.7% since Friday on heavy trading volume, even as it remains up 8.25% YTD and posted a 3.55% weekly gain. Regeneron slipped despite positive Phase 3 antibody trial data, while Moderna and BioNTech declined on lung cancer trial updates.
The MarketReader Minute
U.S. Jobs Report Falls Short, Sparking Fed Rate Cut Speculation Amid Mixed Global Economic Signals and Political Turmoil in Japan.
The MarketReader Minute
(XLY) was flat on Thursday even as weak jobs data fueled rate cut expectations. Nonfarm payrolls rose by just 22,000, pushing unemployment to 4.3%. Lululemon tumbled after cutting sales guidance, yet XLY remains near 2025 highs alongside Communication Services.
The MarketReader Minute
(VGT) slipped 0.1% as nonfarm payrolls grew by just 22,000 in August, raising expectations of a Fed rate cut. Microsoft hit an eight-week low, Nvidia faced fresh AI competition, and Broadcom’s strong results were overshadowed by macro concerns, weighing on tech valuations.
The MarketReader Minute
U.S. Labor Market Slows with Only 22,000 Jobs Added in August; Germany's Factory Orders Drop 2.9%, Prompting Anticipation of Fed Rate Cuts.
The MarketReader Minute
U.S. Jobless Claims Surge to 237,000 Amid Layoffs; Asian Stocks Rise on Fed Dovishness as Eurozone Retail Sales Fall Sharply.
The MarketReader Minute
Global bond market sell-off drives investors to gold and the US dollar as concerns over fiscal sustainability rise, while U.S. mortgage applications decline amid weakening consumer confidence ahead of critical labor data release.
The MarketReader Minute
XLY underperformed alongside the S&P 500, with sharp losses in Nike and Carnival offset partly by strength in Ulta and Ralph Lauren. Amazon and Home Depot drew positive sentiment on Fed easing hopes, though concerns over Prime membership trends weighed on outlook.
The MarketReader Minute
IBB advanced with notable contributions from Cytokinetics, Ionis, and Biogen, supported by fresh approvals and positive clinical data. Eupraxia’s trial news added momentum, offsetting recent weekly weakness and lifting year-to-date gains to 4.6%.
The MarketReader Minute
US Dollar Index Rises Amid Global Bond Yield Surge and Inflation Concerns, Influencing Fed Policy Outlook.
