Equities ended lower overnight, pressured by wild swings as the early-day rebound in tech faded amid an ongoing rotation out of high-flying megacap tech stocks ahead of earnings from Netflix
Value stocks, led by financial and energy, gained overnight as the rotation away from tech was accelerated following an Nvidia-led retreat in tech on geopolitical jitters.
Overall, BHP has shown strong operational performance with record production in several key commodities and has met or exceeded its production and cost guidance for FY24. The company is actively progressing its growth and decarbonisation strategies, despite challenges in the nickel market.
The Dow had its best day in more than a year Tuesday, closing at fresh record highs, underpinned by better-than-expected retail sales data and a slew of mostly upbeat quarterly earnings from corporates
Stocks surged higher overnight on bank earnings and increased bets for a September rate cut as Fed chief Jerome Powell said recent inflation data had added to confidence.
Over the weekend, an attempt was made on Former President Trumps life at a rally, further reflecting the deep political divide in the county. While equities closed higher on Friday night on bets that the US Federal Reserve will cut interest rates in September, while big banks fell after reporting mixed results.
Fed Chair Powell and Lower inflation data fueled optimism of September rate cuts, sparking a shift back into small-caps
Anticipating next week’s economic figures. Stay informed on the latest financial updates and trends.
In a surprising turn of sentiment, the Magnificent 7 had their worst day in months, while the broader market was firmer, despite cooling inflation data. The sentiment of rejoicing falling inflation became the reality check investors have been blind to, as it points to a slowing in the U.S. economy even if Federal Reserve interest rate cuts become a possibility later this year.
Stocks hit fresh records as the S&P 500 closed above 5,600 for the first time Wednesday, led by tech and ongoing hopes for sooner rate as Fed Chair Jerome Powell delivered his second-day of testimony before Congress, a day ahead of fresh inflation data.
Stocks eked out another tiny gain to secure another record close for the fifth-straight session as testimony from Federal Reserve Chair Jerome Powell didn’t sway investors from bets on a first rate cut in September.
