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Tesla (TSLA), which has increased due to its trial for higher charging rates for Cybertrucks and a partnership with Costco in Taiwan for a limited-time EV sale. Amazon (AMZN) has demonstrated resilience, outperforming competitors despite some losses.
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Berkshire Hathaway was a notable contributor, reporting strong fiscal second-quarter results with revenues surpassing estimates and adjusted earnings per share significantly above expectations.
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Key contributors to XLE's performance include Marathon Petroleum Corporation (MPC), which reported Q2 2024 financial results with an adjusted EPS surpassing analyst estimates by over 30%, and ONEOK (OKE), which also exceeded expectations with strong operational performance.
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Key contributors to this performance include MRNA, which rose, followed by BMRN, which experienced a notable increase after reporting strong second-quarter results that exceeded earnings and sales expectations.
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Some of the largest macro moves in the market today include: Oil (WTI) -2.3%. Bitcoin +1.9%. Gold -0.6%. Some of the largest moves among US mega-cap stocks include: Apple Inc (AAPL) -1.5%. Eli Lilly and Co (LLY) +1.4%. Microsoft Corp (MSFT) +1.0%.
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Vertex Pharmaceuticals Inc. (VRTX) experienced mixed analyst sentiment, with downgrades from Barclays and Canaccord Genuity, despite some price target increases. BioNTech SE (BNTX) reported increased losses and lower revenue in Q2, alongside its decision to opt out of acasunlimab development.
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Exxon Mobil Corp, which reported a strong Q2 profit but saw its stock drop significantly, alongside Chevron Corp and other energy stocks. Occidental Petroleum Corp's recent filing to sell shares adds to concerns about shareholder strategy in a challenging market.
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Berkshire Hathaway's stake reduction in Apple led to a record cash reserve, while its net earnings fell notably for Q2. JPMorgan Chase has advised on credit derivatives due to concerns over the U.S. economy and European consumer spending.
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Amazon declining sharply amid weak job data despite involvement in the Indian central bank's digital currency project. Tesla faced challenges due to falling registrations in the UK and heightened competition in the electric vehicle sector.
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Nvidia (NVDA) dropping due to challenges related to AI chip smuggling into China and monopolistic investigations. Apple (AAPL) shares fell sharply after Berkshire Hathaway reduced its stake, raising concerns amid market instability.
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Some of the largest macro moves in the market today include: S&P 500 Index (US) -4.1%. Nasdaq 100 Index (US) -5.7%. Ethereum -16.5%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) -13.8%. Tesla Inc (TSLA) -10.7%. Broadcom Inc (AVGO) -9.9%.
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The US Non Farm Payrolls report for July revealed only 114,000 jobs added, significantly below expectations, alongside a weaker-than-expected increase in average hourly earnings and a rise in the unemployment rate to 4.3%.
