Stock market increases on chip stock strength and lower bond yields

From Nasdaq: 2024-04-04 11:57:05

The stock market is up today with the S&P 500, Dow Jones, and Nasdaq all seeing gains, driven by Fed Chair Powell’s comments on interest rate cuts. Chip stocks are leading the way higher after Taiwan earthquake news. Overseas markets are also up. Unemployment claims are up, trade deficit widens, impacting GDP. Market watching for upcoming payroll report and potential rate cuts.

Interest rates are down today with T-notes gaining after higher unemployment claims. European bond yields are lower as well. Eurozone PPI data weak, while Composite PMI revised upwards. ECB talks of considering rate cuts as data strengthens. US stock movers include Conagra Brands, chip stocks like Marvell and Nvidia, Wayfair, Synchrony Financial, and Levi Strauss & Co, among others. Losers include Lamb Weston Holdings, Salesforce, Alphabet, Block, Celanese, Hertz Global Holdings, Radian Group, and MGIC Investment Corp.

Earnings reports today include Conagra Brands, Lamb Weston Holdings, NET Lease Office Properties, and RPM International Inc. Market is for now tracking positively despite some negative economic indicators. News expected to impact the upcoming FOMC meetings, especially focused on potential rate cuts. Overseas markets, especially Europe and Asia, are also on the upward trend today.



Read more at Nasdaq: Stocks Push Higher on Strength in Chip Stocks and Lower Bond Yields