From Kiplinger: 2024-06-24 16:12:44

Stocks were mixed as the Dow rose 0.7% on energy stock gains, while the S&P 500 and Nasdaq fell. Chevron added 2.6% as U.S. crude rose to $81.63 per barrel. Nvidia fell 6.7% and lost $432 billion in market cap. BofA’s Vivek Arya believes NVDA’s volatility will be brief with GenAI hardware deployment.

Target (+2.4%) partners with Shopify (-1.1%) for e-commerce sales, allowing Shopify users to sell on Target Plus. Affirm (+12.8%) jumps after Apple partnership for installment loans via Apple Pay. The deal could drive $12 billion in potential BNPL opportunity for Affirm, according to Mizuho Securities analyst Dan Dolev.

The EU accuses Apple of blocking developers from offering alternatives to the App Store, violating the Digital Market Act. The charges are the first under the new law, with a potential fine equal to 10% of Apple’s global revenue. Apple maintains it is compliant with the law, but faces scrutiny from the EU.



Read more at Kiplinger: Stock Market Today: Nvidia Enters Correction Territory