US Open: Wall Street opens higher driven by lower PPI data 🟢

• 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.

We 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.