- US100 records over 1.5% gains
- The USDIDX dollar index loses 0.20%
- Bond yields decline
Indexes open higher at the start of the U.S. cash session. Investor optimism was driven by lower PPI data from the U.S. for July. The report showed a significant month-to-month decline in core inflation, well below analysts' expectations. Although the key data of the week, the CPI report, will be published tomorrow, today's lower readings give investors hope for a similar scenario tomorrow. As a result, at the start of the session, we observe a decline in the dollar's value and an increase in investor appetite for risk. Both stocks and the cryptocurrency market are gaining.
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Open account Try demo Download mobile app Download mobile appWe observe gains in most companies. The leader of the gains is the semiconductor and new technology sector. A significant rebound is observed in Nvidia, which gains almost 4.00% at the time of publication. The only sector recording declines is Oil & Gas. Source: xStation 5
US100
The technology stock index breaks out of the key 18600-point zone after two sessions of consolidation.
Source: xStation 5
Company news
Starbucks (SBUX.US) stock gains 23% following the announcement of a leadership change. Current CEO Laxman Narasimhan is being replaced by Chipotle’s CEO, Brian Niccol, effective September 9, 2024. CFO Rachel Ruggeri will serve as interim CEO. The move led to a 10% drop in Chipotle's stock.
Rumble (RUM.US) gains 3.60% after reporting better-than-expected Q2 results. Revenue increased 27% sequentially, with a 19% lift in ARPU. The company remains optimistic about future growth and aims to achieve adjusted EBITDA breakeven by 2025 through increased monetization and cost reductions.
Dell Technologies (DELL.US) gains 5.60% after Barclays upgraded the stock to Equal-Weight from Underweight, citing a more neutral outlook following a recent decline due to AI concerns. Barclays set a price target of $97, implying a 1.8% increase from the last closing price.
JetBlue Airways (JBLU.US) dips further 4.15% after initial decline yesterday after announcing a $2.75B debt raise to strengthen finances amidst declining profits and sales. The airline's financial strain increased default risk, leading to bond downgrades by S&P Global Ratings, Moody’s, and Fitch Ratings.
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