S&P 500 and Nasdaq 100 hit record highs as chip stocks lead gains.

From Nasdaq: 2024-07-08 20:00:00

Stock indexes like the S&P 500 and Nasdaq 100 hit record highs today, with chip stocks leading the way. Corning and Morphic Holding gain on positive news. T-note yields rise while European stocks climb to 3-week highs. Investors eye Fed Chair Powell’s upcoming testimony and June US CPI report for market direction.

Overseas markets are mixed, with the Euro Stoxx 50 up and China’s Shanghai Composite down. Interest rates are slightly lower, with European bond yields falling. German exports and imports show larger-than-expected declines. ECB member Muller hints at no rush for rate cuts. US stock movers include Intel, Corning, and R1 RCM Inc gaining, while ServiceNow and software stocks like Datadog take a hit. Earnings reports on 3D Systems Corp, Greenbrier Cos Inc, and KalVista Pharmaceuticals Inc are expected today.



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