Inflation information and the primary U.S. presidential debate between Vice President Kamala Harris and former President Donald Trump dominated headlines this week. Stocks bounced from final week’s steep losses and dismissed a hotter-than-expected core client worth index (CPI) studying for August, with the Dow Jones Industrial Common (DJI) and S&P Index (SPX) staging their largest intraday comebacks since October 2022.
The SPX and Nasdaq Composite (IXIC) went on to nab their fourth-straight every day positive aspects after the producer price index (PPI) for final month was in line estimates, with merchants shopping for again tech as they grew assured within the prospect of an interest rate cut subsequent week. Improved client confidence and import worth information helped set all three main indexes on observe for weekly wins.
Tech Shares to Watch
Apple (AAPL) unveiled its iPhone 16 this week, which options Arm’s (ARM) artificial intelligence (AI) chip know-how. In different main sector information, Palantir Applied sciences (PLTR) and Dell Applied sciences (DELL) will join the SPX later this month, and Oracle (ORCL) noticed a post-earnings record high. In the meantime, a uncommon double downgrade dinged Micron Expertise (MU).
Newest Analyst Updates
Analysts had so much to say this week. United States Steel (X) and JetBlue (BLU) scored bull notes, regardless of uncertainty over the previous’s acquisition by Nippon Metal. Anheuser-Bush (BUD) was additionally in focus after Morgan Stanley named it a top pick, whereas Roku (ROKU) received an upgrade to “outperform.” Elsewhere, AstraZeneca’s (AZN) lackluster drug trial results ushered a downgrade to “promote” at Deutsche Financial institution.
Curiosity Fee Resolution Coming Up
Retail gross sales, manufacturing information, and the Federal Reserve’s interest rate decision will command consideration subsequent week. And whereas earnings season has cooled off, anticipate to listen to from Darden Restaurants (DRI), FactSet (FDS), FedEx (FDX), and Basic Mills (GIS). Triple witching Friday can also be coming, and merchants ought to be looking out for one more potential delta-hedge selloff.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
