From Nasdaq: 2024-09-16 15:09:33

Stocks today are mixed, with the Dow Jones Industrials hitting a new record high. Apple’s -3% decline weighs on the market, while Intel’s +3% surge lifts the Dow after securing $3.5 billion in Pentagon grants. US economic news is hawkish for Fed policy, and retail sales data later this week will be pivotal. The ECB is also monitoring inflation risks closely. Overseas, China’s weak economic data is negative for global growth. Chipmakers are under pressure, with Micron down -5% leading the Nasdaq 100 losers.MKSI and NVMI are also down after downgrades, while Oracle is up +4% following an upgrade from Melius Research. Intel gains after securing Pentagon grants, and Exact Sciences is up thanks to promising data on colon cancer screening. Nuvalent shares surge after impressive cancer program results. Builders FirstSource and Zillow are also up following upgrades. Earnings reports are set for tomorrow.



Read more at Nasdaq: Stocks Pressured by Weakness in Apple and Chip Stocks