Good MorningEquity markets struggled with direction on Thursday following NVIDIA's blowout earnings report on Wednesday evening. As strong as the report is, as much outperformance relative to consensus as was displayed, the market expected nothing less, creating a sell-the-news event. The uptrend in NVIDIA will likely continue, but the correction that began earlier this summer is not over. NVIDIA's shares fell more than 6% for the session, confirming resistance at recent highs and setting up a fall that could retest the recent lows 20% below the current action.
Thursday's news was not all bad. The Dow Jones Industrial Average and Russell 2000 advanced, led by the Russell. The action indicates that sector rotation is still in play, with investors moving out of tech and into a broader range of stocks, which means stock volatility will persist. The takeaway is that a correction in the S&P 500 will set up a buying opportunity for next year's winners; the questions are how deep the correction will get and how long it will last. Featured: How to build the ultimate dividend portfolio (DTI) 
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Markets | | | Birkenstock (NYSE: BIRK) has been on a strong run since going public in October 2023. Shares were up 54% prior to the release of its fiscal Q3 earnings on Aug. 29. This significantly outpaced the S&P 500 and the consumer discretionary sector. The Consumer Discretionary Select Sector SPDR Fun... Read the Full Story >> |
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Markets | | | As several popular U.S.-listed Chinese stocks begin to show signs of a rebound, investors are left wondering whether now is the right time to jump back into the market or if these gains could be another value trap. The iShares China Large-Cap ETF (NYSE: FXI) has managed to buck its downtrend this ... Read the Full Story >> |
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Stocks | | | Stocks on Wall Street finished broadly higher Friday as the market closed out its fourth straight winning month with solid gains. A late-afternoon rally helped stocks bounce back from a midafternoon slide. The S&P 500 rose 1%, with about 76% of the stocks in the index notching gains. The benchma... Read the Full Story >> |
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Markets | | | The U.S. added a record-breaking 32.4 gigawatts of solar electric generating capacity in 2023, evidence of the continued growth of the renewable energy industry thanks to strong customer demand, supportive government policies, and rapid advances in solar technology. A long-term shift in the energy... Read the Full Story >> |
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Stocks | | | A late-afternoon slide by some Big Tech companies cut into Wall Street's gains Thursday, leading to a mixed finish for U.S. stock indexes.The S&P 500 ended flat after giving up an earlier gain of nearly 1%. The benchmark index is about 1.3% away from its record set in July.The Dow Jones Industri... Read the Full Story >> |
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Stocks | | | Strong growth for stocks on Wall Street this year have helped juice gains for savers with retirement accounts.The average 401(k) plan balance stood at $127,100 at the end of the second quarter, an increase of 13% from the same period last year, according to data from Fidelity Investments drawn from ... Read the Full Story >> |
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Markets | | | Shares of cloud-based software provider Veeva Systems Inc. (NYSE: VEEV) have been on a wild ride in the last year, surging by more than 40% from last November through March 2024 before giving up nearly all of those gains by June. The stock price floated toward the lower end of that range for mos... Read the Full Story >> |
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Markets | | | Best Buy, the nation's largest consumer electronics chain, reported another quarterly drop in sales due to Americans pulling back on purchases of appliances and consumer-electronics gadgets to focus on essentials Read the Full Story >> |
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Markets | | | The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment.The Commerce Department had previously estimated that the nation's gross domestic product — the total outpu... Read the Full Story >> |
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Markets | | | Dell Technologies (NYSE: DELL) has rallied this year as the legacy personal computer firm has been transitioning its business toward the fast-growing AI space. Shares have provided a total return of nearly 50% this year, greatly outperforming the market and the technology sector. The Technology S... Read the Full Story >> |
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