Stock indexes are up, Nasdaq 100 hits record high, boosted by strong US economic indicators.

From Nasdaq: 2024-06-17 12:52:59

Stock indexes are up today, with the Nasdaq 100 hitting a new high. Positive US stocks are influenced by gains in European equities. Citigroup raised US equities outlook to overweight, lowering European stocks citing higher US growth. M&A activity boosts Autodesk and Aaron’s, while T-note yields affect chip companies and tech stocks. China reports on new home prices and industrial production signal economic weakness.US Jun Empire manufacturing survey improves, Minneapolis Fed President hints at no rush for rate cuts. Markets predict 10% chance of rate cut in July, 60% in September. Q1 earnings beat estimates, with 81% of S&P 500 companies surpassing expectations. Overseas markets show mixed results, European bond yields rise. ECB Vujcic hints at rate cut in September. Swaps show likelihood of rate cut at July and September meetings.US stock movers include Autodesk, Broadcom, Tesla, and more. Losers include Louisiana-Pacific due to downgrades. Copper mining stocks are under pressure. Moderna drops on insider selling signs. Earnings reports from La-Z-Boy Inc and Lennar Corp. Stock market news continues with more insights and updates from Barchart.



Read more at Nasdaq: Stocks Climb, With the Nasdaq 100 Posting New Record Highs