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Thursday, July 18

Some of the largest macro moves in the market today include: Copper -2.2%. Ethereum +2.6%. Nasdaq 100 Index (US) +0.7%. Some of the largest moves among US mega-cap stocks include: NVIDIA Corp (NVDA) +3.2%. Meta Platforms Inc (META) +1.7%. Amazon.com Inc (AMZN) +1.1%. 

The European Central Bank (ECB) has decided to keep interest rates unchanged in July, aligning with market expectations. Despite some inflation indicators rising temporarily in May and stabilizing or falling in June, the ECB remains cautious due to high domestic price pressures and services inflation. The central bank aims for a 2% inflation target but will maintain restrictive policy rates as needed based on ongoing economic data.

In the United States, initial jobless claims rose more than expected last week by 17,000 to reach 222,000 new claims. This increase surpassed market forecasts of 230,000 while continuing claim counts also grew significantly. Additionally notable is that Philadelphia's Fed Manufacturing Index surged unexpectedly from previous levels indicating an expansion across various manufacturing activities including shipments and employment metrics.

Copper prices have dropped sharply by -2.2%, driven largely by weak Chinese economic data coupled with increasing global inventories suggesting reduced demand prospects despite potential bullish factors like stable growth projections elsewhere globally.

Nasdaq 100 Index (US100/USD) [+0.6%]
The Nasdaq 100 Index (US) has risen by +0.4% since Wednesday's close, potentially influenced by European indices showing resilience to tech selloffs from Wall Street and a rebound in French stocks post-June drop amidst calmer US futures market conditions. Positive movements in major tech companies like NVIDIA and Micron also reflect sector positivity amid awaiting economic indicators such as ECB announcements. Worsening trade tensions between China and the United States impacting Asian markets could contribute to shifts in sentiment for global tech-related assets like the Nasdaq 100 Index today.

Copper (XHG/USD) [-2.4%]
Copper prices have decreased by 2.1% since Wednesday's market close, attributed to declining demand influenced by increased global inventories and soft Chinese economic data. Market participants are also noting potential re-entry points at key support levels based on technical analysis amid ongoing bearish momentum across timeframes, with uncertainty prevailing due to macroeconomic influences impacting the market direction despite factors like stable growth and central bank rate cuts.

TSM |+2.1%|+96.7B
Taiwan Semiconductor Manufacturing Co Ltd (TSM) exceeded Q2 EPS and revenue expectations, reporting $1.48 in earnings per share compared to the estimated $1.41, with revenues totaling $20.82B surpassing the expected mark of $20.23B due to robust demand for their 3nm and 5nm technologies offsetting seasonal smartphone factors as noted by CFO Wendell Huang's recent statement supporting TSM's notable +2.1% price movement since Wednesday's close session today amidst anticipations for sustained strength driven by smartphone and AI-related demands heading into third quarter 2024 alongside raised FY24 revenue outlook above mid-20%.

NVDA | +2.7% | +79.3B
NVIDIA Corp stock increased by 2.9% in the pre-market session following news of Xbox integrating GeForce NOW for cloud gaming and TSMC reporting strong Q2 profits due to high AI demand, with NVIDIA benefiting from surging AI demands globally. Additionally, NVIDIA's CEO recently sold $30.6M worth of common stock as part of an option exercise amidst notable insider selling activity at the company indicated on social media platforms like CNBC where a bearish sentiment was observed towards semiconductor stocks including NVDA alongside Micron and Broadcom showing positive movement post-closing yesterday, reflecting potential market trends influencing NVDA's price action today.

DPZ |-12.1%|-1.8B
Domino's Pizza Inc saw a notable -11.7% price drop post second-quarter revenue report missing estimates, totaling $1.097 billion due to challenges faced by master franchisees affecting store growth projections for 2024 leading to temporary suspension of global net store guidance metrics until clarity on international operations' effects is achieved as CEO Russell Weiner expressed confidence in future value creation based on positive Q2 performance trends across income cohorts during earnings call statements despite minor variations from analyst forecasts primarily related to U.S same-store sales figures and profitable order count growth observed both domestically and internationally with EPS at $4.03 beating expectations while revenues hit the expected mark amidst strong quarterly financial results impacting stock movement today before market open space

BX |-1.9% | -3.0B
Blackstone Inc. reported Q2 2024 earnings with assets under management at $1.08 trillion, exceeding total revenue estimates by a significant margin and declaring a dividend of 82 cents per common share for the period post-announcement. Despite strong performance in various segments like private equity and real estate AUM surpassing expectations, the stock ($BX) dropped -1.8% after revealing slightly lower than estimated actual EPS and revenues during its recent investor conference call where inflows were higher than anticipated while hosting an upcoming webcast to discuss results further tomorrow morning as disclosed via social media announcement on July 18th, 2024.

INFY |+4.5%|+4.0B
Infosys Ltd saw a notable price increase of +4.0% after surpassing Q1 2025 financial expectations, with an EPS of $0.18 and revenues at $4.71B compared to consensus estimates as stated by CEO Salil Parekh highlighting strong growth, margin expansion, large deals secured, cash generation levels reached ever before alongside positive outlook for FY25 revenue growth between 3%-4%. The company also exceeded quarterly revenue estimates driven by demand recovery in financial services and manufacturing sectors leading to a raised FY2025 revenue guidance range from $19.1B-$19.3B up from the previous estimate.

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