- US stock indices see slight gains at the open.
- A strong dollar puts pressure on the stock market.
- Bond yields are rising.
- Alphabet (GOOGL.US) shares gain 5.8% following a breakthrough in quantum chip research.
The start of the second cash session of the week brings little turmoil to the market. Stock indices open with minor changes, with the tech-heavy US100 up 0.40%, the US500 trading 0.10% higher, and the US2000 losing 0.60%. A strengthening dollar is weighing on the stock market, as the USDIDX index rises 0.34% today to 106.5000 points, continuing its upward rebound after testing key support levels. Early in the day, US bond yields are also gaining, with 10-year yields increasing to 4.21% and 2-year yields rising to 4.14%.
US100
Both the US500 and US100 are consolidating near historic highs. The tech-heavy index gains 0.50% to 21,580 points, supported almost exclusively by the largest tech companies.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Source: xStation 5
Gains in the tech sector today are driven by Alphabet (+5.8%), Nvidia (+1.8%), Meta (+1.5%), Tesla (+3.7%). Source: xStation 5
Company News
Alphabet (GOOGL.US) gains almost 6% after CEO Sundar Pichai unveiled the revolutionary Willow quantum computing chip. The chip drastically reduces computational errors and completed a benchmark task in under five minutes, which would take today’s fastest supercomputers over 10 septillion years. Pichai highlighted its transformative potential in fields like drug discovery, fusion energy, and battery design, marking a major step toward practical quantum computing.
C3.ai (AI.US) dips over 7% despite raising its FY2025 revenue guidance to $378M-$398M, up from $370M-$395M, exceeding the $382.6M consensus. Strong AI-related spending drove better-than-expected Q2 results. For Q3, revenue is forecasted at $95.5M-$100.5M, with a midpoint slightly above the $97.5M consensus.
Vail Resorts (MTN.US) surpassed FQ1 expectations and increasing FY2025 net income guidance to $240M-$316M, up from $224M-$300M. The improved outlook reflects real estate sales and assumes stable conditions across ski seasons and foreign exchange rates.
Alaska Air Group (ALK.US) surged 13% after raising its Q4 earnings outlook to $0.40-$0.50 per share, up from $0.20-$0.40. Stronger bookings and November revenue boosted confidence. The company plans $1B profit growth by 2027, targeting 11%-13% pretax margins and EPS above $10.
Oracle (ORCL.US) fell over 7% after Q2 results missed expectations. The company forecasts 7%-9% revenue growth for the current quarter, below the 10.33% consensus, and adjusted EPS of $1.50-$1.54, aligning with estimates.
MongoDB (MDB.US) dips 10% despite beating FQ3 expectations and issuing a positive outlook. The decline followed news that CFO/COO Michael Gordon will retire in January 2025, raising concerns about leadership continuity.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
