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Market Surge: Nasdaq Lifts Amid Biden Exit, Earnings Reports in ...
2024-07-23 05:50:08
Markets
Stocks
Politics

Market Surge: Nasdaq Lifts Amid Biden Exit, Earnings Reports in Focus

US stocks rallied post-Biden exit with Nasdaq and Dow Jones climbing, as attention turns to VP Harris as potential Democratic nominee, potentially impacting market volatility. S&P 500 earnings from Alphabet, Tesla, and Chipotle will offer economic insights.

Meanwhile, Dow Jones futures fluctuate, with NXP plunging and Nvidia, Tesla rebounding. International markets react cautiously, with Europe gaining and Asian markets falling.

Investor focus remains on earnings performance, political developments, and upcoming economic indicators.

Related news on that topic:

Biden's Exit Boosts Futures and Tech Stocks

Following Biden's withdrawal from the presidential race, U.S. stock futures surge, benefiting Trump and Harris. Megacap tech and Trump-affiliated companies rally. Investors shift focus to economic indicators, Nvidia's China market, Bank of America's sale, and earnings updates from major tech firms. A rise in the dollar against the yen and euro occurs due to Biden's exit and support for Harris. However, analysts caution against overinterpreting this shift, citing its dependence on Trump's election odds. Speculations on potential stock surges post-Trump's victory highlight Nucor, Halliburton, and UnitedHealth Group, alongside top picks from Motley Fool Stock Advisor, including Nvidia's remarkable returns.

Investors Hedge Against US Presidential Election Concerns

Investors are hedging against concerns over the US presidential election, with Joseph Biden's withdrawal and Kamala Harris' potential nomination as the Democratic candidate. The Cboe Volatility Index surged as stocks fell, but has since slipped. Positioning in the rates market is shifting to gauge the chances of a Federal Reserve rate cut. The 'Trump steepener trade' has unwound, indicating the Treasuries curve is more likely to be driven by Fed policy than election odds. Investors are watching whether earnings from Tesla Inc. and Alphabet Inc. can support valuations, while also monitoring the Secured Overnight Financing Rate for policy expectations. According to Stuart Kaiser of Citigroup and Scott Nations of Nations Indexes, volatility pricing and options positioning reflect these market dynamics, including pressure on S&P 500 call options.

Read 6 more recent news on this topic

The press radar on this topic:

Tagesschau - Wirtschaft und Börsen-Nachrichten
22. Juli 2024 um 20:41

Moderate Gains Ahead DAX Expected Higher After Biden Withdrawal

Politics
Finance
After Biden's withdrawal as a presidential candidate, investors expect gains in the DAX. The Trump trade will likely stabilize for the time being. Varta plans a restructuring process, which means losses for shareholders.
The Street
24. Juli 2024 um 11:26

Stock Market Today: Stocks higher as Biden exits presidential race TheStreet Daily Newsletter

Finance
Politics
Stocks rise as Biden exits 2024 race, with VP Harris challenging Trump. Volatility spikes on political uncertainty, as investors eye Tesla, Alphabet earnings. CBOE VIX index signals S&P 500, Dow volatility. 11.1% Q2 profit growth to $496.7 billion expected. Asian markets fall, Europe gains with Stoxx 600, FTSE 100.
Yahoo Finance
22. Juli 2024 um 15:14

Stock market news today: Nasdaq leads stocks higher after Biden backs out

Finance
Politics
Economy
Technology
US stocks rose as investors assessed the fallout from President Biden's exit, with the Nasdaq Composite and Dow Jones Industrial Average also gaining. The political shock, with Biden backing Vice President Kamala Harris as the Democratic nominee, could inject volatility, distracting from a stream of S&P 500 earnings reports, including Alphabet, Tesla, and Chipotle, which will provide insight into the economy and consumer ahead of Thursday's GDP and Friday's Personal Consumption Expenditures (P..
Yahoo Finance
23. Juli 2024 um 03:18

Dow Jones Futures Fall: Apple Chipmaker NXP Plunges On Earnings; Nvidia, Tesla Snap Back | Investor's Business Daily

Finance
Economy
Technology
Dow Jones futures fell; Apple chipmaker NXP plunged; Nvidia, Tesla rebounded; stocks breaking out include Armstrong, IBD MarketSurge, IBD Stock Lists.
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