- 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.
Start investing today or test a free demo
Create account Try a 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.
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.
