Pre. Settlement | N/A |
Settlement date | 2024-09-26 |
Open | 2.1450 |
Bid | 2.1390 |
Last price | 2.1370 |
Day's range | 2.0930 - 2.1710 |
Volume | |
Ask | 2.1490 |
On today's episode of Morning Brief, Hosts Brad Smith and Madison Mills break down the market open and some of the trading day's biggest stories. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) opened Thursday's trading session higher, while the Dow Jones Industrial Average (^DJI) hovered below its flat line. The tech sector continues to push the markets to new heights, as Nvidia (NVDA) has become the most valuable publicly traded company on the New York Stock Exchange. Meanwhile, Dell Technologies (DELL) has announced a new partnership with Nvidia to construct an AI factory for xAI, Elon Musk's artificial intelligence venture. In a parallel development, Musk indicated that xAI will also explore utilizing Super Micro Computer's (SMCI) server solutions. Meanwhile, new economic data releases painted a mixed picture of the labor market and housing sector in the United States. On the employment front, the number of initial jobless claims fell to 238,000 for the week ending June 15, coming in hotter than economists' expectations of 235,000. The housing sector also showed signs of strain, with both housing starts and building permits falling more than expected in May. Pulte Capital CEO Bill Pulte calls the print "a little bit of a speed bump" in an overall strong housing market. As the Swiss National Bank initiated its second interest rate cut this year, all eyes are on when the Federal Reserve will cut rates. JPMorgan US Head of Investment Strategy Jake Manoukian explains: "The Fed's going to join the party probably at some point this year. We're 90 days away from the September Fed meeting, traders are pricing in a 67% chance that that's the first cut." He adds that if a rate cut does not come in September, it will most likely come in December. This post was written by Melanie Riehl
Summer heat is forecasted to show in the outdoor thermometer and Americans' electricity bills, the Energy Information Administration (EIA) expected costs to rise by up to $173 per month from June to August. Yahoo Finance Senior Energy Reporter Ines Ferré breaks down the regional trends anticipated for electricity and natural gas prices (NG=F) over the summer months. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
It's just an hour to the end of the trading day and the clock is ticking! Market Domination Hosts Julie Hyman and Josh Lipton guide investors through the home stretch all the way to the market close, breaking down leading market stories and top trending stocks. Path Trading Partners Co-Founder and Chief Market Strategist Bob Iaccino provides context as to where oil (CL=F, BZ=F) and gas prices (RB=F) could be headed this summer due to OPEC+'s production cuts. Apple (AAPL) is no short-supply of opportunities this week as Affirm (AFRM) is partnering with the tech giant to integrate buy now, pay later (BNPL) loans into Apple Pay. Needham Senior Media and Internet Analyst Laura Martin explains where she stands on Apple entering the AI race so late into the game. This post was written by Luke Carberry Mogan.