Major US stock indices trade higher to kick off the new trading day

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The US economic data today showed weakness in the employment (initial jobs claims 263K versus 235K estimate), and higher CPI. However, the upside surprise was largely driven by housing costs rather than tariffs. Rent rose 0.34% month-over-month, the fastest pace since December 2024, while shelter costs climbed 0.39% month-over-month, the biggest increase since January 2025. Both components remain sticky drivers of inflation, though real-time indicators suggest that housing prices are already softening. As a result, analysts expect rent and shelter inflation to ease in the coming months as official measures catch up with current market trends.

The US stock market is reacting to the expectations that the Fed will indeed cut next week (and cut further going forward), and the AI tailwind. Yields in the US also declined with the 10-year briefly fallen below the 4.00% level for the 1st time since April 7.

With the broader S&P and NASDAQ indices higher, and each closing at record levels yesterday, any positive close today would of course be a new record.

A snapshot of the levels currently shows:

  • Dow industrial average rose 201 points or 0.44% have 45691.
  • S&P index up 16.21 points or 0.24% at 6547.6.
  • NASDAQ index up 32 points or 0.17% had to 192.93

Having said that, there is some profit taking some of the big winners from yesterday. Oracle shares are currently trading down -2.97%, while Broadcom is down month 1.31% and AMD shares are down -1.34%. Shares of Nvidia are up modestly by 0.38%..

Some winners today include:

  • Micron (MU): +10.79%. Citi analyst Christopher Danely raised his price target on the memory chip maker to $175 from $150 while maintaining a Buy rating.

  • Synopsys (SNPS): +7.53%

  • Lam Research (LRCX): +4.66%

  • Stellantis NV (STLA): +4.46%

  • Rivian Automotive (RIVN): +3.92%

  • Alibaba ADR (BABA): +3.06%

  • ARK Genomic Revolution (ARKG): +2.70%

  • Moderna (MRNA): +2.59%

  • Western Digital (WDC): +2.47%

  • Celsius (CELH): +2.20%

  • Chewy (CHWY): +2.22%

  • General Mills (GIS): +1.88%

And some of the losers today include:

  • Oracle (ORCL): -2.97%

  • Broadcom (AVGO): -1.31%

  • AMD (AMD): -1.34%

  • Delta Air Lines (DAL): -1.17%

  • Super Micro Computer (SMCI): -0.73%

  • Alphabet A (GOOGL): -0.60%

  • ProShares UltraPro Short QQQ (SQQQ): -0.71%

  • American Airlines (AAL): -0.47%

  • Netflix (NFLX): -0.57%

  • United Airlines Holdings (UAL): -0.57%

  • Palantir (PLTR): -0.46%

  • SPDR Gold Shares (GLD): -0.49%

  • Boston Scientific (BSX): -0.52%



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