July 12, 2024
Stock market today: Live updates

Stock market today: Live updates

Stock market today: Live updates

Traders work on the floor at the New York Stock Exchange ( NYSE ) in New York City, U. Ș. , June 24, 2024.

Brendan McDermid | Reuters

Following a selloff in popular technology names that caused the Nasdaq Composite to reach its worst day since April, stock futures were trading at a level overnight.

Prospects based on the Dow Jones Industrial Average added 20 points. S&P 500 and Nasdaq-100hovered near the flatline.

In prolonged investing, SolarEdge Technologies sank 13% after announcing plans for a $300 million private offering of convertible notes, while Pool Corp dropped 8% after adjusting its guidance downward.

During the typical treatment, the Dow Jones Industrial Average bucked Monday’s selloff, adding nearly 261 points, or 0.67%. The S&P 500 dropped 0.31%, while the Nasdaq Compositeshed 1. 09 % for its worst day since April as investors rotated out of semiconductors.

Nvidia sank nearly 7% on Monday, building on a 4% decline from last week. Other connected semiconductor and artificial intelligence names fell, with Super Micro Devices dropping 8.7%. Qualcomm shed 5.5%, while Broadcomdecreased by almost 4 %. As a result, knowledge technology dropped 2. 1 % in the large index, which was the worst-performing business.

Given traditional patterns, the recent downturn in semis is not particularly alarming. Jeff deGraaf of Renaissance Macro Research stated on Monday that the summer is usually a difficult time for the industry, noting that the next quarter typically ranks as the worst period.

” The good news is I think Nvidia is still in the lengthy- word uptrend”, he said. ” I believe these adjustments are likely to be profitable. ” You just have to anger that mood”.

FedEx‘s profits are anticipated to be significant for Wall Street. and Carnivalas the school year nears its climax on Tuesday. Prior to Friday’s May private consumption expenses price index release, customer trust for June, the Richmond Fed Index, and house price data are also on the cards.

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