Stocks fall, chip stocks and tech stocks weaken, US labor data affects market

From Nasdaq: 2024-09-06 13:06:16

Stocks are down with S&P 500 falling to 3-week low. Chip stocks weaken as Broadcom gives disappointing guidance. Weak US labor market data affects market. Rate cut chances at 100% for September FOMC meeting. US 10-year T-note yield at 15-month low. European bond yields lower, Eurozone GDP revised lower.

Broadcom down 9% after weak Q4 revenue forecast. Megacap technology stocks falling. Intel leads Dow Jones losers. Invitation Homes down 4% after renewals slow. Mobileye down 6% amid reports of potential stake sale. Home builders up on low T-note yield. US Steel up 6% on asset interest.

Smartsheeet up 5% on strong Q2 earnings. Samsara up 16% on revenue beat. Guidewire Software up 11% on revenue forecast. Carrier Global up 1% after upgrade. Earnings reports today. ABM, Compass Minerals, Genesco, National Beverage, RH report. Market news from Barchart. Disclosure: no positions in mentioned securities.



Read more at Nasdaq: Stocks Falter as Chip Stocks and Megacap Tech Stocks Slide