CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

US OPEN: Wall Street gains after CPI data, meme stocks drop

14:54 15 May 2024
  • Wall Street opens higher after in-line CPI reading
  • US500 tested 5,300 pts area
  • GameStop and AMC drop as meme stock rally eases

Wall Street indices launched today's trading higher, supported by an in-line CPI reading for April. While the data was in-line with expectations, it was also the first reading of 2024 that did not surprise to the upside. This explains a strong dovish market reaction that followed the release. S&P 500, Dow Jones and Nasdaq gained around 0.5% at session launch.

Source: xStation5

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

S&P 500 futures (US500) jumped following release of in-line CPI data for April. An in-line reading was welcome as all previous CPI readings release in 2024 surprised to the upside. Taking a look at US500 chart at H4 interval, we can see that the index tested 5,300 pts resistance zone in the aftermath of inflation data release, but bulls were unable to push the price above it. A small pullback occurred later on, but the index continues to trade at the highest level early-April 2024. Should we see a break above the 5,300 pts area, the index will trade just around 0.5% below its all-time highs 

Company News

Rally in meme stocks shows signs of cooling. While GameStop (GME.US) and AMC Entertainment (AMC.US) traded over 10% higher in premarket earlier today, those gains were erased before Wall Street session launched and the two stocks opened lower.

New York Community Bancorp (NYCB.US) launched today's trading higher. Stock gains on news that it has agreed to sell around $5 billion in mortgage warehouse loans to JPMorgan. Company said that the transaction will not only help boost liquidity but will also result in 65 basis points addition to CET1 ratio. Ratio of cash-to-assets is expected to improve from 20 to 24%, while loan-to-deposit ratio is expected to decline to 104% from around 110% at the end of Q1 2024.

Nu Holdings (NU.US) gains after reporting record revenue and profits for Q1 2024. Company reported total revenue at $2.70 billion, much higher than $2.35 billion expected. Total deposits were reported at $24.25 billion (exp. $24.2 billion). Digital bank added 5.5 million clients during the quarter (exp. +4.5 million), bringing a total client count to 99.3 million (98.7 million). Net income surged by almost 170% YoY to $378.8 million (exp. $336.1 million). 

NEXTracker (NXT.US) is rallying at a double-digit pace today, following release of fiscal-Q4 2024 earnings (calendar Q1 2024) yesterday after market close. Company reported a 42% YoY jump in fiscal-Q4 revenue to $736.5 million (exp. $682.8 million). Adjusted EBITDA surged by around 120% YoY, to $159.6 million (exp. $133.6 million). Adjusted EPS reached $0.96 (exp. $0.68). Company also issued an upbeat EBITDA guidance for fiscal-2025. NEXTracker expects full-year revenue to reach $2.8-2.9 billion (exp. $2.87 billion) and adjusted EBITDA of $600-650 million (exp. $596 million).

Analysts' actions

  • Accenture (ACN.US) downgraded to 'hold' at Deutsche Bank. Price target set at $295.00

GameStop (GME.US) launched today's trading with an around-17% bearish price gap and continued to move lower in the first minutes of the cash session. Stock is down around 25% on the day right now. Source: xStation5


This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Xtb logo

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 1 March 2024
__cf_bm cc 1 March 2024
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 28 August 2024

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
muc_ads cc 7 September 2024
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 28 August 2024

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
personalization_id cc 7 September 2024
UserMatchHistory cc 8 October 2022
bcookie cc 8 September 2023
lidc cc 9 September 2022
bscookie cc 8 September 2023
li_gc cc 7 March 2023

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence