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Tech Stocks Surge on Wall Street's Road to Recovery
2024-07-26 23:55:08
Markets
Stocks
Tech

Tech Stocks Surge on Wall Street's Road to Recovery

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Major tech stocks like Nvidia, Microsoft, Meta, and Amazon are on the rise, accompanied by gains in the Dow Jones, S&P 500, and Nasdaq. US consumer spending is up, propelling the growing economy despite the Federal Reserve's high-interest rates.

However, Alphabet and Tesla face penalties for underperformance. Investors eagerly await news from tech giants and the Federal Reserve meeting.

Individual stocks such as 3M, Bristol Myers Squibb, Colgate-Palmolive, and Deckers Outdoor are experiencing substantial price hikes. The market's resilience and the need for strategic investment approaches are evident, with a Santa Claus rally possibly on the horizon.

International markets remain steady, with a focus on key US economic data affecting global trading sentiments.

Related news on that topic:

Market Volatility Amid Big Tech Earnings and Economic Indicators

US stocks, including Nasdaq and S&P 500, dropped due to AI trade concerns and disappointing earnings from Alphabet and Tesla. Meanwhile, the Dow Jones remained positive amidst expectations of significant Federal Reserve rate cuts. Economic growth in Q2 exceeded forecasts at 2.8%, while the upcoming update on the Personal Consumption Expenditure Price Index will influence the Fed's decisions. On the flip side, positive inflation data led to a rebound in the market, with Dow rising by 600-700 points as investors reacted to slower PCE index growth. The market's recent volatility, especially after lackluster Big Tech earnings, is raising questions about the economy's trajectory. Notably, tech giants like Meta and Microsoft saw gains, but diabetes stock Dexcom slumped. Key economic indicators are showing promise, with inflation on the rise and consumer spending increasing.

Stock Markets Tumble Amid Tech Sell-Off and Economic Growth

Global stock markets experienced a significant decline due to concerns over the growth of tech companies. The Nasdaq and S&P 500 saw a sharp decrease, while the Dow Jones remained positive. The sell-off was driven by disappointing earnings from tech giants like Alphabet and Tesla. However, the US economy provided some relief as GDP data showed stronger-than-expected growth in the second quarter. This data suggests that the economy is growing at a faster pace and may support a potential rate cut by the Federal Reserve. The tech sell-off is seen as a healthy market correction, as investors rotate away from overvalued tech stocks driven by AI enthusiasm. As the market normalizes, small-cap stocks are expected to perform well. Despite the volatility in the market, experts remain optimistic about the future, with seasonality indicating more upside potential.

Read 11 more recent news on this topic

The press radar on this topic:

Yahoo Finance
29. August 2024 um 20:08

Nvidia, Tesla, Meta Reveal Rules For Santa Claus Rally And More

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After a tough bear market in 2022 and some vicious volatility this year, a new uptrend and Santa Claus rally once again show why investors need a strategy for how to invest in changing market trends. The latest actions by Magnificent Seven stocks like Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META) and Amazon (AMZN) only emphasize that reality. The wide and loose action in stock charts for Tesla (TSLA) and Google parent Alphabet (GOOGL) also illustrates the need for investors to stay fl..
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DAX expected to be stable Will the stock market now return to short-term calm?

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The DAX is likely to end the week on a stable note as US tech stocks continue to decline. The Nasdaq 100 has formed a technical head-and-shoulders pattern, which suggests a downward trend reversal. Mercedes-Benz Cars recorded a result drop of more than a quarter in the second quarter.
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26. Juli 2024 um 13:07

European Stock Futures Steady Ahead of Key US Data: Markets Wrap

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European stocks steady; Asian shares mostly higher as traders weigh Fed rate cut expectations vs tech weakness. Taiwanese shares tumble 4.3% as trading resumes after Typhoon Gaemi. China's bond yields hit record low; CSI 300 heads for worst week since February. US GDP growth quickens, but PCE data eyed for inflation risk. Mercedes-Benz earnings drop 19%; Eni raises profit guidance. Oil pares gains. Nasdaq 100 falls 1.1% on tech slump; small caps outperform on rate cut bets. Yen gains, Tokyo in..
n-tv.de
26. Juli 2024 um 20:51

Wall Street on the Road to Recovery: Major Tech Stocks Rise Again - n-tv.de

Finance
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Major tech stocks like Nvidia, Microsoft, Meta, and Amazon are rising again after recent heavy losses. The overall Wall Street market appears more positive towards the weekend; the Dow Jones, S&P 500, and Nasdaq are all gaining.
CW

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