From NASDAQ: 2024-09-16 15:09:26

Stocks today are mixed, with the Dow Jones reaching a new record high while Nasdaq 100 and S&P 500 are down. Apple’s -3% decline reflects weak demand for new iPhones. Chip makers’ weakness also impacts the market, except Intel, up +4% due to qualifying for $3.5 billion federal grants. US economic news showed a stronger Sep Empire manufacturing survey, hinting at hawkish Fed policy. Corporate news is mixed with Apple down over -2% and Oracle up more than +4%. Markets focus on US Aug retail sales data and the upcoming FOMC meeting, where a rate cut decision is awaited. China’s economic indicators show weakness, impacting overseas markets negatively. European government bond yields decrease. T-notes are up on speculation of a -50 bp rate cut. Apple stocks decline more than -3% due to weak demand for new iPhones. Chip makers like ARM Holdings, Micron Technology are down, impacting the broader market. Intel rises more than +4% due to qualifying for federal grants. Oracle stocks increase more than +4% after an upgrade by Melius Research. Charles Schwab reports a rise in brokerage accounts. Elf Beauty declines more than -3% after a price target cut. MKS Instruments and Nova Ltd are down after downgrades by Citigroup. Yelp Inc sees a -2% decline after a negative coverage initiation. Exact Sciences stocks rise more than +5% after positive colon cancer screening data. Nuvalent is up more than +23% after presenting impressive cancer program data. Builders FirstSource is up more than +3% after an upgrade by Truist Securities. Zillow is up more than +4% after an upgrade by Wedbush.



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