Mixed movement in US stocks, some reaching highs, KeyCorp surged, B Riley Financial tumbled

From Nasdaq: 2024-08-12 13:00:04

US stocks saw mixed movement today, with the S&P 500 and Nasdaq 100 reaching 1-week highs. KeyCorp surged over 13% following Scotiabank’s minority investment agreement. Meanwhile, stocks like Monday.com and Starbucks saw gains after positive news. The market is buzzing with anticipation for upcoming producer and consumer price reports that will potentially impact Fed rate decisions.

On the flip side, B Riley Financial tumbled over 49% due to a bleak Q2 outlook. Fed Governor Bowman’s hawkish remarks, hinting at a delay in rate cuts, sent jitters through the market. With eyes on the US economic data this week, analysts are predicting moderate changes in PPI and CPI figures. Market outlook remains bullish for a potential rate cut at the September FOMC meeting.

In Europe, bond yields showed a mixed bag, mirroring the uncertain market sentiment. With German bund yields edging higher and UK gilt yields sliding, ECB rate cut predictions remain overwhelmingly high. US stocks like KeyCorp, chip makers, and energy companies stood out among movers. Meanwhile, Starbucks and Walmart garnered attention from investors for positive catalysts ahead.



Read more at Nasdaq: Stocks Mostly Higher on Positive Corporate News