NASDAQ Composite (^IXIC)
| Previous close | 17,683.98 |
| Open | 17,573.70 |
| Volume |
| Day's range | 17,480.66 - 17,618.40 |
| 52-week range | 12,543.86 - 18,671.07 |
| Avg. volume | 5,530,815,806 |
- Yahoo Finance Video
The risks of rate cuts, TikTok fights ban bill: Asking for a Trend
On today's episode of Asking for a Trend, Host Josh Lipton breaks down some of the top stories and trends from the trading day. Investors are all but certain the Federal Reserve will cut interest rates at its September meeting on Wednesday. But the question of by how much — 25 or 50 basis points — has been hotly debated. Wall Street Journal Chief Economics Commentator and Deputy Economics Editor Greg Ip lays out the case for a half-point cut, explaining, "It all starts out by looking at where rates are now," Ip says, noting that the current target rate of 5.25%-5.50% is the highest in 20 years. Rates were initially pushed that high because of sticky, elevated inflation. But in recent months, inflation has cooled considerably. The major indexes (^DJI, ^IXIC, ^GSPC) closed Monday mixed after disappointing iPhone 16 pre-order numbers caused Apple (AAPL) to slip and pull the Nasdaq down along with it. Yahoo Finance senior reporter Jared Blikre analyzes the day’s top market movements, including the surge in cyclical sectors such as utilities (XLU), the weight of the Federal Reserve's interest rate decision later this week, and September's seasonality trends. TikTok spent Monday in court in the first day of its trial arguing against the US bill that could see the popular social media app banned in the United States if parent company ByteDance doesn't sell the platform to a non-Chinese entity. Axios Business Editor Dan Primack explains that the judge in the case was "fairly skeptical of TikTok's arguments," adding, "But what's important to note is the President of the United States does not have to ban it if there's not a divestiture, it gives the president the option to ban it. You've already got Donald Trump saying he would not ban TikTok." Intel (INTC) and Amazon (AMZN) Web Services announced a co-investment in custom chip designs in a multibillion, multi-year strategic collaboration. Creative Strategies CEO and principal analyst Ben Baron explains that Intel has won a large customer in AWS, saying, "there's positive momentum there in terms of getting foundry wins." He believes that Intel is ultimately setting the stage to split into two companies: Intel and an Intel foundry. He believes that having an Intel Foundry subsidiary is "essentially as close as you can get to putting the right kind of walls and guardrails around Intel Foundry so that other customers can come in and feel comfortable knowing that they'll have capacity wafer allocation." This post was written by Melanie Riehl
- Yahoo Finance Video
Nasdaq dips on Apple performance as market looks to the Fed
US stocks ended Monday's trading session mixed after the Nasdaq Composite (^IXIC) snapped its win streak, falling by over 0.5%. The Dow Jones Industrial Average (^DJI) saw gains of 0.55%, or 228 points, in the trading day. Market Domination Overtime's Alexandra Canal recaps the day's market action after Apple (AAPL) shares dipped on underwhelming iPhone 16 pre-orders. Yahoo Finance markets and date editor Jared Blikre breaks down the sector winners of the day before turning his attention to semiconductor stocks and Nasdaq 100 (^NDX) components. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Tech, Mag 7 'less of an outlier' as earnings growth broadens
"The tech sector, as a sector in the second quarter, we saw earnings growing at a 20% rate. So it's still a very robust level in terms of growth," HSBC head of equity strategy for the Americas Nicole Inui says. "But what we're seeing now is this broadening of earnings growth. So we're seeing other sectors like financials, utilities, healthcare growing at a very similar rate. So tech is less of an outlier of what we saw in the... beginning of the year and in 2023." Inui joins Madison Mills and Seana Smith on Catalysts to talk about where recent tech rallies could broaden out to the rest of the market (^DJI, ^IXIC, ^GSPC) amid the anticipation for the Federal Reserve to begin cutting interest rates. She examines the outlook for tech earnings growth from the Magnificent Seven leaders. "When we look at the market as a whole, it looks like it's trading at a very hefty premium. You take out the Mag Seven, you take out tech, valuations aren't as elevated compared to historical levels. So yes, tech, Mag Seven, you still see strong earnings growth," Inui tells Yahoo Finance. "There is this gap overall when you look at the rest of the of the sectors. But that's clearly reflected in terms of what we're seeing in in valuations." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.
