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Mixed Retail Sales Keep September Fed Hike on Table, S&P 500 Dips
Markets Daniel Marsh

Mixed Retail Sales Keep September Fed Hike on Table, S&P 500 Dips

U.S. retail sales grew 0.2% in June, below forecasts, but excluding gasoline they surged 0.7%. The mixed data kept September Fed rate hike expectations above 50%, weighing on equities.

SPY QQQ DIA CME MS
Arm Holdings Plunges 7.5% as Rich Valuation Exacerbates Semiconductor Rout
Markets Daniel Marsh

Arm Holdings Plunges 7.5% as Rich Valuation Exacerbates Semiconductor Rout

Arm Holdings dropped 7.5%, losing $21.9 billion in market cap, as its elevated valuation of 301x earnings magnified a broader semiconductor decline.

ARM NVDA QCOM TSM HSBC
Citi shares sink as weak H2 return outlook overshadows strong Q2
Earnings James Calloway

Citi shares sink as weak H2 return outlook overshadows strong Q2

Citigroup shares dropped 2% after full-year RoTCE guidance signaled a weaker second half, despite a strong Q2 earnings beat.

C JPM BAC WFC
Energy Stocks Surge on Middle East Tensions, Outperform Tech by 3.5 Points
Markets Daniel Marsh

Energy Stocks Surge on Middle East Tensions, Outperform Tech by 3.5 Points

Energy stocks gained 1.1% on Middle East oil risks, outperforming tech which dropped 2.4%. S&P 500 slipped 0.6% as Brent held above $84 and Treasury yields rose.

XLE XLK SPY TLT GLD XOM CVX TTE SNEX CME
Consumer Spending Surge Drives Retail Stocks Ahead of S&P 500
Markets Daniel Marsh

Consumer Spending Surge Drives Retail Stocks Ahead of S&P 500

U.S. retail sales increased 0.2% in June, with core spending up 0.7%. Retail stocks outpaced the S&P 500, signaling resilient consumer demand.

SPY QQQ AMZN
Peso's 0.34% Drop Erodes Six Weeks of Carry Trade Gains
Forex Rebecca Torres

Peso's 0.34% Drop Erodes Six Weeks of Carry Trade Gains

The Mexican peso fell 0.34% on Thursday, wiping out nearly six weeks of gross carry for dollar-funded trades, as the dollar strengthened on risk-off sentiment.

QQQ
General Mills Stock Rises 4.5% Despite Pillsbury Recall
Markets Daniel Marsh

General Mills Stock Rises 4.5% Despite Pillsbury Recall

General Mills (NYSE: GIS) shares gained 4.5% on Thursday, outperforming the market, even as the company announced a recall of 735,840 Pillsbury frozen dough rolls.

GIS KHC CAG XLP SPY
Microsoft Defies Nasdaq Slump as AI Strategy Shields Stock
Earnings James Calloway

Microsoft Defies Nasdaq Slump as AI Strategy Shields Stock

Microsoft shares rose 1.8% on Thursday, extending gains to 4.6% over two sessions and adding $132 billion in market value, as the stock outperformed a falling Nasdaq.

MSFT GOOGL AMZN C
Apple's Market Cap Surges $254 Billion Following China AI Approval
Technology Sarah Chen

Apple's Market Cap Surges $254 Billion Following China AI Approval

Apple's market value surged $254 billion after China approved its AI products, with shares rising 5.5% in two sessions. The approval is seen as a catalyst for leveling the AI playing field.

AAPL BABA BIDU MSFT GOOGL QQQ
Abbott Leads Healthcare Surge as Insurers Show Mixed Results
Markets Daniel Marsh

Abbott Leads Healthcare Surge as Insurers Show Mixed Results

Abbott Laboratories surged 10.9% despite a modest earnings beat, while UnitedHealth rose 2.6% on a larger beat. The healthcare sector ETF XLV gained 2.2%.

ABT UNH XLV SPY ELV HUM CVS JNJ
Chip Stocks Tumble 5% as Investor Focus Shifts from AI Demand to Margins
Markets Daniel Marsh

Chip Stocks Tumble 5% as Investor Focus Shifts from AI Demand to Margins

Semiconductor stocks dropped 5% as investors shifted focus from AI demand to margins. TSMC's outlook highlighted margin pressure despite strong revenue growth.

TSM NVDA AMD MRVL ASML
Semiconductor ETF Plunges Below Key Support Despite TSMC's Record Earnings
Markets Daniel Marsh

Semiconductor ETF Plunges Below Key Support Despite TSMC's Record Earnings

The VanEck Semiconductor ETF fell 4.2% to $565.69, breaching key support, as a broad selloff in chip stocks outweighed Taiwan Semiconductor's record earnings.

SMH SOXX NVDA TSM