Mega-cap tech stocks lift market, positive for individual stock and market.

From Nasdaq: 2024-06-25 12:51:46

Stock indexes are mixed today, with the S&P 500 up +0.19% and the Nasdaq 100 up +0.63%. Mega-cap tech stocks are boosting the market. Carnival is up over +5% after strong revenue and Ebitda. US June consumer confidence beat expectations. Comments from Fed Governor Bowman pushed bond yields higher, with no rate cuts expected this year.

US June consumer confidence index falls -0.9 to 100.4, above expectations. US April home price index eases to +7.20% y/y. June Chicago Fed national activity index rises unexpectedly. Markets await US May core PCE deflator release to gauge inflation. Rate cut chances low for next FOMC meetings. Positive earnings results support stocks.

European government bond yields move lower. T-notes down on bearish supply pressures and hawkish Fed comments. Mega-cap tech stocks lead gains with Nvidia up +3%. Cruise operators climb after Carnival and optimistic forecasts. Capri Holdings up more than +2% on upgrade. Pool Corp and builders slide on lowered guidance. Mixed earnings reports today.



Read more at Nasdaq: Strength in Mega-Cap Tech Stocks Lifts the Broader Market