From Nasdaq: 2024-07-09 12:59:52

The S&P 500, Dow Jones, and Nasdaq indexes are mixed, with tech stocks leading gains to new highs while higher T-note yields pose a challenge. Fed Chair Powell emphasizes the need for good data on inflation. Markets eye US CPI report while discounting rate cut chances. Overseas markets reflect mixed sentiment.

US T-note yields rise as pressure from European bonds and upcoming Treasury auctions weigh. European bond yields also increase. ECB member Panetta comments on key interest rate reductions. Stock movements see chip stocks surge, leading to price target upgrades for several companies. On the downside, Albemarle and Heartland Express experience losses.

Earnings season kicks off with reports from big US banks. Some companies receive upgrades, such as Principal Financial and CRH Plc. CSX Corp faces scrutiny over prior capitalization practices, while Helen of Troy cuts its EPS forecast, leading to a significant share price drop. Helios Technologies CEO faces allegations. Chewy sees a downgrade amidst market fluctuations.

Upcoming earnings reports from Byrna Technologies, Helen of Troy, Kura Sushi USA, and SMART Global Holdings. Stay updated on the stock market with Barchart’s latest news and analysis. Disclaimer: Author Rich Asplund does not have any positions in discussed securities. Information is for informational purposes only.



Read more at Nasdaq: Chip Stock Strength Pushes the S&P 500 and Nasdaq 100 to Record Highs