Your Second Chance to Profit from AI

If you missed out on Nvidia, don't worry. A 244-year-old pattern is about to trigger a $25.6 trillion AI surge... And send three overlooked stocks soaring 1,000%+

S&P 500 Hits Record Highs, Eyes 6th Straight Gain As Powell Keeps Bears At Bay; Tesla Targets 10th Consecutive Win, Bank Stocks Rally: What's Driving Markets Tuesday?

Piero Cingari
July 09, 2024

The S&P 500 index climbed to new all-time highs, rising 0.3% during Tuesday’s session, aiming for a potential sixth consecutive positive close and remaining resilient after Fed Chair Jerome Powell‘s testimony before the Senate Banking Committee.

Powell used both hawkish tones – stating that it is not yet appropriate to cut rates until greater confidence on the 2% target is achieved – and dovish tones, noting recent progress and warning that a weakening labor market could be a significant factor for a rate cut.

Markets are looking ahead with confidence to the upcoming June inflation report, due this Thursday, which could solidify the already high expectations for a rate cut in September.

Financials were the top-performing sector on Tuesday, after Reuters reported that the Federal Reserve is considering revising a key rule that could save the nation's largest banks billions in capital.

Investors also anticipate the upcoming banking sector earnings report with three major banks – JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), and Wells Fargo & Co. (NYSE:WFC) – set to announce results on Friday.

Commodities were broadly softer, likely impacted by the second consecutive surge of a broader U.S. dollar basket and rising Treasury yields. Natural gas rose again by over 1% following supply disruptions caused by Hurricane Beryl.

Bitcoin (CRYPTO: BTC) rose 1.8% to $57,800.

Elsewhere, French stocks, as tracked by the iShares MSCI France Index Fund (NYSE:EWQ), tumbled 1.6%, reflecting negative investor sentiment after left-wing parties’ election gain.

Tuesday’s Performance In Major US Indices, ETFs

Major IndicesPrice1-day %chg
Dow Jones39,474.270.3%
S&P 5005,590.710.3%
Nasdaq 10020,465.040.1%
Russell 20002,040.200.0%
Updated at 1:05 PM ET

According to Benzinga Pro data:

  • The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.3% higher to $557.01.
  • The SPDR Dow Jones Industrial Average (NYSE:DIA) was 0.4% higher to $394.89.
  • The tech-heavy Invesco QQQ Trust (ARCA: QQQ) was up 0.1% to $497.83.
  • Sector-wise, the Financials Select Sector SPDR Fund (NYSE:XLF) outperformed, up by 1.4%, while the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, falling 0.4%.

Tuesday’s Stock Movers

  • Tesla Inc. (NASDAQ:TSLA) rose about 4%, eyeing the 10th straight day of rally and topping gains within mega-cap stocks.
  • Citigroup Inc., Goldman Sachs Inc. (NYSE:GS) and Bank of America Corp. (NYSE:BAC) each rallied by about 2.7%, and JPMorgan rose 1.8%, in response to the positive news on potentially lower capital buffer requirements.
  • Semiconductors weakened across the board Tuesday. Industry giants such as Arm Holdings plc (NYSE:ARM), Broadcom Inc. (NYSE:AVGO) and Advanced Micro Devices Inc. (NASDAQ:AMD) fell by about 2% each.
  • Incyte Corp. (NASDAQ:INCY) and Vestis Corp. (NYSE:VSTS) saw their shares rise by over 4.5% and 7%, respectively, following the announcement of their earnings report dates on July 30 and Aug. 7.
  • Albemarle Corp. (NYSE:ALB) fell 6.7%, on track to achieve lows last seen in October 2020, as lithium prices continue to ease.

Read Next:

Image created using artificial intelligence via Midjourney.

Continue Reading...

Popular

OpenAI whistleblowers ask SEC to investigate the company's non-disclosure agreements with employees

NEW YORK (AP) — OpenAI whistleblowers have filed a complaint with the Securities and Exchange Commission and asked the agency to investigate whether the ChatGPT maker illegally restricted workers from speaking out about the risks of its artificial intelligence technology.

Renowned Fitness Guru Richard Simmons Dies At 76

The fitness industry is mourning the loss of one of its most iconic figures, Richard Simmons, who passed away at the age of 76, ABC News reported on Saturday.  What Happened

Nvidia Is Pivoting to Solve Big Tech's $1 Trillion Problem - Ad

Nvidia is the hottest company in the world thanks to its chip business. But here's the thing: Nvidia is making a massive $1 trillion pivot ... To solve AI's biggest problem. But it's not making this move by itself. A new set of companies are partnering with Nvidia in this trillion-dollar venture.

Top 3 Industrials Stocks That Are Ticking Portfolio Bombs

Three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

Microsoft, Amazon Or Palantir: Reddit Users Debate How To Invest $4,900

Reddit users debate best stock picks for $4.9K investment. Microsoft and Amazon seen as strong choices, while Palantir's potential sparks debate.

Biden Widely Criticized Over Debate Performance, But Poll Also Points To Concerning Signs For Trump

In the aftermath of the initial 2024 presidential debate, a recent poll reveals a decline in President Joe Biden's mental and physical fitness ratings.

Elon Musk's Chilling Warning for Humanity - Ad

Elon Musk warned that humanity will soon be 'obsolete.' Every port, railroad, highway, and airport in America is facilitating a kind of 'invasion' that will bring about centuries worth of change in the next few years. If Elon and the research are correct -- the results could be devastating for the average American.

This Could Be Like Buying Crypto In 2020 - Ad

Wall Street veteran Ian King says, "this could be like buying crypto in 2020." Now Ian's pounding the table on a new opportunity that's on the cusp of mainstream adoption just like crypto in 2020. And he's recommending you buy 3 little-known stocks ahead of an official announcement from the U.S. government.

Joe Biden Shares His Performance Enhancer Drink Ahead Of 2024 US Presidential Debate: 'I Don't Know What They've Got In These'

Ahead of the debate, Biden took to X, sharing a humorous post about his "performance enhancer" drink, DARK BRANDON'S SECRET SAUCE, and joked, "I don't know what they've got in these performance enhancers, but I'm feeling pretty jacked up. Try it yourselves, folks.

The AI Presentation 'They' Don't Want You to See - Ad

Wall Street legend confesses, "I feel a sense of duty to share what I know with as many people as I can... that's why I made this free for all to view."

Mark Zuckerberg's Meta Reportedly Tests Apple Vision Pro-Like Feature For Quest Headsets

Meta Platforms Inc. is reportedly testing a new feature for its Quest headsets that allows users to position windows freely, similar to Apple Inc.'s Vision Pro, as discovered in version 67 of the Meta Quest Public Test Channel.

The No. 1 Crypto of 2024 (Trading for Less Than 10 Cents) - Ad

25X Predicted For THIS Crypto -- Starting on June 24th, this tiny 3-cent crypto just partnered with one of the biggest companies in the world... Amazon. And one team of crypto experts has identified it as the most promising crypto of 2024. You can see all of the details surrounding the No. 1 Crypto of 2024 here.

CDC Advisor Panel Recommends RSV Shots In US For People Above 75 Years, Analyst Says Decision Negative For GSK

The CDC's ACIP recommends RSV vaccines for adults 75+, and for those 60-74 with chronic conditions. GSK's Arexvy is approved for adults 50-59 at risk. A decision on adults 50-59 is pending further data.

Verizon, AT&T, And T-Mobile Set For Gains, Goldman Sachs Cites AI and Data Center Demand

Goldman Sachs analyst James Schneider initiates coverage on US Telecom Services and infrastructure sector, constructive on wireless carriers and data centers.

Next Hot AI Projects Are Not on the Nasdaq - Ad

The next hot AI stocks -- are not stocks at all. You can find them in a virtually unknown niche in the market, which has delivered some of the biggest winners in AI. In this interview, we sit down with the foremost expert on this niche market. He'll tell us exactly where to find these hot AI projects.

New York Times Calls For Joe Biden To Withdraw From Presidential Race

New York Times urges Biden to withdraw from presidential race, citing debate performance and voter desire for fresh leadership.

Jim Cramer Has A Market Strategy: Interest Rates Up, Buy Mag 7; Rates Down, Buy Everything

Jim Cramer, the host of CNBC's "Mad Money," has advised investors to consider buying the 'MAG 7' stocks when interest rates rise and to buy everything when rates fall.

The World's First Trillion Dollar Drug - Ad

By 2030, Wall Street experts predict it could generate more revenue than the top 10 best-selling drugs... combined. Early investors stand to reap tremendous rewards as its growth surges 75,000% by 2030. Former hedge fund manager Ian King predicts this could become the world's first trillion-dollar drug. And he's recommending 3 little-known stocks to play this fast-moving trend.

Tesla Loses Lead In EV Quality Among Peers: Auto Expert Pins It On Removal Of Stalks For Buttons

EV giant Tesla has lost its edge in terms of vehicle quality over EVs made by rival OEMs, as per automotive industry consultant JD Power.

'Rich Dad Poor Dad' Author Robert Kiyosaki Agrees With Raoul Pal's Bitcoin 'Banana Zone' Theory: 'He Knows What He's Talking About'

World-renowned author and financial educator, Robert Kiyosaki, recently expressed his support for macro guru Raoul Pal’s much-discussed “Banana Zone” theory, predicting a significant surge in Bitcoin’s (CRYPTO: BTC) value.

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

Why Pitney Bowes Shares Are Shooting Higher today

Pitney Bowes shares up on update of cost rationalization initiative, $70M in savings identified. The cost cuts are anticipated to be largely reflected in second half of 2024 pre-tax earnings and fully reflected in 2025.

The End of America's Global Leadership - Ad

Believe it or not, this October surprise could end up being the real election story when historians write their books. And no matter who wins, it may be impossible to restore America's global standing afterwards.

UBS Sells Stake In China Joint Venture To Comply with Local Regulations: Report

UBS selling partial stake in securities joint venture to BSAM in China, consolidating operations, CEO says it's optimal move for compliance.

Target Tightens Shoplifting Rules, Reduces Threshold To $50: Report

Target has lowered its shoplifting intervention threshold to $50, down from $100, to combat rising theft. The new policy, effective this summer, is part of Target's broader efforts to address theft impacting profit margins.

Man Who Predicted Trump 2016 Win: "Prepare for Election Meltdown" - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

Investors Predict Impact Of Potential Trump Presidency On Markets: 'The Market Is Already Priced For That To Happen'

Investors anticipate heightened market volatility as Trump and Biden vie for the presidency, weighing potential impacts on sectors and economic stability.

The Election Shock Nobody Expected... (But You'll See it Coming) - Ad

It comes down to just 9 words... Nine simple words which when spoken, will determine the outcome of the 2024 election... These words have nothing to do with Trump, the economy, or what's happening in Ukraine, China or Israel. This is the scandal that isn't being reported (yet.) But my political operatives tracked down this story.

Bitcoin Continues Sideways Despite $21M ETF Inflow On Wednesday

Bitcoin spot ETFs saw net inflows of $21.5 million, signaling a shift in investor sentiment. Experts will discuss this and more at Benzinga's event.

Arkansas sues 2 pharmacy benefit managers, accusing them of fueling opioid epidemic in state

LITTLE ROCK, Ark. (AP) — Arkansas on Monday sued two pharmacy benefit managers that oversee coverage for insurers, employers and other large clients, accusing them of fueling the opioid crisis in the state.

July 22nd - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on June 24th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

65% Of New Hampshire Residents Support Legalizing Adult-Use Cannabis, New Poll Shows

New Hampshire poll shows 65% support for recreational cannabis legalization despite legislative setbacks. Public opinion pushes for reform.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service