US cash markets pared gains following weaker labor market data. The US500 is down 0.12%, while the US100 and US2000 are up 0.25%. The U.S. dollar is falling sharply (USDIDX: −0.78%).
U.S. index futures initially gained after the softer NFP report. However, the reaction was not decisive, with the main driver being expectations for three Fed rate cuts this year. At the cash open, gains were quickly pared, and market focus shifted to potential economic concerns. All of this is happening as U.S. indices remain at record highs and valuations are at historic peaks. This kind of financial and economic mix does not bode well for demand and could mark the beginning of at least a short-term correction — especially considering that markets have been in a continuous uptrend virtually since the end of April this year.
US500 (D1 interval)
The index has already attempted three times to break above the 6,500-point level, without success. It seems the current attempt may also end in failure. The nearest support zone for the bulls remains above 6,370 points.
Company news
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Braze (BRZE.US) +15.40% – jumped after beating Q2 estimates with 24% revenue growth and strong guidance; FY2026 EPS outlook ($0.41–$0.42) far exceeds consensus ($0.17).
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Bill Holdings (BILL.US) +9.15% – rose on news Starboard Value built an 8% stake and may seek board seats, raising expectations of activist influence.
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DocuSign (DOCU.US) +5.96% – rallied after Q2 revenue and earnings topped forecasts, boosted by AI-driven adoption across eSignature and related products.
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Broadcom (AVGO.US) +10.20% – advanced after Q3 results and Q4 guidance beat expectations; forecasted $17.4B revenue and 67% EBITDA margin.
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UiPath (PATH.US) +4.95% – gained after Q2 results exceeded estimates with subscription revenue up 22%; raised Q3 and FY2026 revenue guidance.
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Lululemon (LULU.US) -16.44% – sank after weak U.S. sales and tariffs hurt results; FY2025 revenue guidance cut to $10.85B–$11B (vs. $11.20B est.), with Q3 EPS outlook also below expectations.
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