The MarketReader Minute
NVIDIA facing a Department of Justice investigation and criticism from Elliott Management, while Intel's outlook has worsened due to downgrades and missed earnings. Apple reported mixed results, beating earnings estimates but experiencing a decline in iPhone revenue.
The MarketReader Minute
Some of the largest macro moves in the market today include: USD/CNH -0.8%. US 2Y Treasury Bond +0.4%. Nasdaq 100 Index (US) -2.2%. Some of the largest moves among US mega-cap stocks include: Amazon.com Inc (AMZN) -9.3%. NVIDIA Corp (NVDA) -6.3%. Broadcom Inc (AVGO) -4.3%.
The MarketReader Minute
Home Depot has seen a decrease in its average 12-month price target due to mixed analyst evaluations amid revenue challenges. Similarly, Marriott International has faced downward adjustments in price targets from multiple analysts, reflecting a consensus of a neutral stance on the stock.
The MarketReader Minute
Key contributors to VGT's performance include Nvidia, which fell sharply amid concerns over insider activity following its CEO's stock sale, and Qualcomm, which, despite reporting strong earnings, faced a premarket decline due to potential export license issues with Huawei.
The MarketReader Minute
U.S. Initial Jobless Claims have risen to a near 12-month high, surpassing expectations and reflecting a softening labor market, which may influence future Federal Reserve decisions on benchmark borrowing costs.
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Chevron's acquisition of Hess faces uncertainty due to arbitration claims from Exxon Mobil and CNOOC regarding a Guyana oil venture. Crude oil prices have also dropped significantly, reflecting broader market sentiment and potentially impacting energy sector valuations.
The MarketReader Minute
Regeneron Pharmaceuticals exceeded earnings and revenue estimates, benefiting from strong Dupixent sales but facing weaker Libtayo sales. In contrast, Biogen raised its fiscal year 2024 guidance and reported strong Q2 results.
The MarketReader Minute
Some of the largest macro moves in the market today include: USD/CNH +0.4%. Copper -1.2%. Some of the largest moves among US mega-cap stocks include: Meta Platforms Inc (META) +8.7%. Eli Lilly and Co (LLY) +4.6%. NVIDIA Corp (NVDA) +2.0%.
The MarketReader Minute
This uptick reflects a general trend in the sector. Significant contributors to IBB's performance include MRNA, Waters Corp (WAT), BGNE, AMGN, and IQV, with notable returns from WAT, which recently reported strong second-quarter results that exceeded analyst expectations
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Tesla, which reported a significant revenue boost from regulatory credits and plans to enhance production for the Cybertruck. Amazon has been ordered to recall over 400,000 hazardous products but is expected to surpass Q2 earnings expectations.
The MarketReader Minute
Samsung Electronics has made strides in AI memory chips with NVIDIA's endorsement, enhancing its competitive edge. Microsoft is integrating OpenAI models and NVIDIA accelerators into its Azure platform, further solidifying NVIDIA's role in the AI landscape.
The MarketReader Minute
Some of the largest macro moves in the market today include: Nasdaq 100 Index (US) +2.3%. S&P 500 Index (US) +1.5%. Oil (WTI) +2.6%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) +6.7%. Broadcom Inc (AVGO) +6.1%. Mastercard Inc (MA) +2.5%.
