Tech stocks lift Nasdaq, S&P 500; Netflix soars after results
The S&P 500 and the tech-heavy Nasdaq gained ground on Friday, bolstered by technology stocks, while Netflix surged after exceeding subscriber growth estimates. Shares of Netflix NFLX.O jumped 10.2% to a record high after the streaming giant topped Wall Street estimates for subscriber additions and said it expected continued growth through the end of the…
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Europe’s STOXX 600 ends week higher as tech stocks rebound
Europe’s STOXX 600 ended higher on Friday, as tech stocks made a strong comeback at the end of a bumpy week, while the European Central Bank’s rate cut and a flurry of corporate earnings helped the index deliver a second straight week of gains. The STOXX 600 closed up 0.2% as the tech sector led…
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Nvidia’s rally takes a break after forecasts fall short of investor expectations
Nvidia shares dropped more than 6% on Thursday after its forecast fell short of lofty expectations, though some believe the modest sell-off showed investors still remain confident in the generative AI boom that has powered the chip giant’s stock higher all year. The company on Wednesday forecast third-quarter gross margins that could miss market estimates…
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Japan’s Nikkei inches higher amid weaker yen, pharma extends rally
Japan’s Nikkei share average rose in early trade on Friday, with pharma shares rallying for a second session, although gains were limited as tech stocks followed their U.S. peers lower. Japanese exporter-heavy equity markets also got some broad support from a weaker yen versus the dollar. However, the outlook for the currency pair looks murky,…
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Wall St Week Ahead: Flaring economic worries threaten US stocks rally
Economic fears are roiling Wall Street, as worries grow that the Federal Reserve may have left interest rates elevated for too long, allowing them to hurt U.S. growth. Alarming economic data in recent days have deepened those concerns. U.S. job growth slowed more than expected in July, a Friday report showed, while the unemployment rate…
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Big tech trade shudders just as stock pickers make a comeback
Wall Streetβs sure-fire, money-minting trade of 2024 β going all-in on Big Tech β was upended this week, sparking stock volatility across the board and thrashing momentum-chasing investors along the way. An earnings flop from Tesla Inc. and fears about Alphabet Inc. spending landed just as popular bets in bonds and commodities misfired, adding to…
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