From Nasdaq Corporation

July 12, 2024 2:26:13 PM:

The S&P 500 and Nasdaq hit record highs but saw a downturn as investors reacted to CPI data mid-week. Stocks rallied again towards the end of the week with bank earnings and a slightly hotter PPI reading. The Dow reached an all-time high, with all three indexes set for weekly gains.

Analyst notes on Walmart and Carvana were bullish, while KeyCorp and Darden Restaurants faced bearish ratings. Spotify’s revenue forecast was deemed “too ambitious.” Netflix received a pre-earnings bull note, MicroStrategy announced a stock split, and ASML Holding could be next.

Nvidia remains a popular choice among options traders, while SentinelOne and SoundHound AI offer attractively priced options. Next week, a barrage of bank earnings is expected, along with comments from Fed members. Market seasonality and S&P 500 underperformance are topics for analysis.

Read more at Nasdaq: Record Highs Across the Board This Week