Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»S&P 500 clinches fresh record amid GDP data, chip stock gains
Finance

S&P 500 clinches fresh record amid GDP data, chip stock gains

September 27, 2024No Comments10 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
S&P 500 clinches fresh record amid GDP data, chip stock gains
Share
Facebook Twitter LinkedIn Pinterest Email

US shares jumped Thursday, because the S&P 500 (^GSPC) closed at a file excessive. Traders welcomed a slew of updates, together with strong US financial knowledge, Micron’s (MU) upbeat earnings, and China’s pledges of extra stimulus.

The Dow Jones Industrial Common (^DJI) rose 0.62%, whereas the S&P 500 (^GSPC) added extra 0.4% to shut at a file excessive of 5,745.39. The tech-heavy Nasdaq Composite (^IXIC) gained 0.6% amid a pointy spike in Micron’s shares, which boosted different chips.

A ultimate replace from the US authorities on second quarter GDP progress beat Wall Road expectations, whereas weekly jobless claims unexpectedly fell to the bottom ranges in 4 months.

In the meantime, China’s high leaders signaled they’re pulling out the stops to revive its moribund financial system with new pledges to raise fiscal spending, halt the property disaster, and assist the inventory market. An enormous bounce in mainland shares set the CSI 300 (000300.SS) on monitor for its greatest week in a decade.

Up subsequent, Friday will convey a extremely anticipated studying on the Persona Consumption Expenditures (PCE) index, the inflation metric most popular by the Fed.

In particular person inventory strikes, Tremendous Micro Laptop (SMCI) tanked 12% after The Wall Road Journal reported the Division of Justice is probing the server maker following a brief vendor report from Hindenburg Analysis printed final month.

Learn extra: What the Fed fee lower means for financial institution accounts, CDs, loans, and bank cards

Stay14 updates

  • Thu, September 26, 2024 at 2:21 PM MDT

    Costco posts This fall earnings beat, income miss

    Costco (COST) shares have been down marginally after the corporate reported a blended bag of fourth quarter outcomes.

    The retailer reported adjusted earnings per share of $5.29, above Wall Road’s estimates for $5.08 per share. In the meantime, Costco’s quarterly income of $79.7 billion got here in barely beneath the Road’s estimates of $79.96 billion.

  • Thu, September 26, 2024 at 2:09 PM MDT

    One other file for the S&P 500

    The S&P 500 (^GSPC) closed at a file excessive for the forty second time this yr on Thursday.

    Supplies (XLB) was the main sector within the S&P 500, rising greater than 2%, whereas Info Expertise (XLK) rose greater than 1%.

  • Thu, September 26, 2024 at 1:10 PM MDT

    AMD, Qualcomm shares bounce as Micron earnings increase chipmakers

    The US chip sector is feeling Micron’s (MU) post-earnings glow. The PHLX Semiconductor Index (^SOX) jumped almost 3.7% on Thursday.

    Micron inventory jumped 15%. Different chip shares additionally climbed. Superior Micro Units (AMD) rose 3.4%, Qualcomm (QCOM) 2.4%, and Intel (INTC) 1.3%.

    The surge was fueled by Micron’s fourth quarter earnings report after the bell Wednesday, which included a brighter-than-expected outlook for the upcoming quarter, pushed by strong AI demand for its reminiscence chips. Micron is the primary chipmaker to report quarterly monetary outcomes this earnings season, and its optimistic report is an encouraging signal for the semiconductor sector.

    Nvidia (NVDA) shares have been comparatively unchanged, rising simply 0.16% — although that slight raise was sufficient to assist the AI chipmaker rejoin the $3 trillion market cap membership after a rocky begin to the month. The corporate’s shares fell sharply after reporting second quarter earnings in late August. The inventory fell additional on a Bloomberg report in early September that the US Division of Justice subpoenaed Nvidia, which the corporate subsequently denied.

  • Thu, September 26, 2024 at 12:40 PM MDT

    China shares raise off on hopes of extra stimulus

    Chinese language-tied US equities soared once more on Thursday because the nation’s high leaders pledged to assist fiscal spending and assist the floundering actual property sector on Thursday.

    The information marked the second massive announcement from Chinese language officers about incoming stimulus this week.

    KraneShares CSI China Web ETF (KWEB) rallied greater than 11% on Thursday, extending its five-day positive factors to greater than 11%. In the meantime, On-line retail giants Alibaba (BABA), Pinduoduo (PDD), and JD.com (JD) all rose greater than 10% on the day.

    Beneath is a take a look at how a basket of China-tied US equities have carried out this week.

    Source: Yahoo FinanceSource: Yahoo Finance

    Supply: Yahoo Finance

  • Thu, September 26, 2024 at 11:58 AM MDT

    30-year mortgage fee hits 2-year low

    The typical fee on a 30-year fixed-rate mortgage nudged down barely this week to hit its lowest stage in two years.

    Yahoo Finance’s Claire Boston stories:

    Thirty-year mortgage charges averaged 6.08% as of Thursday, down from 6.09% every week earlier, in keeping with Freddie Mac knowledge.

    Common 15-year mortgage charges rose one foundation level to five.16%.

    Learn extra right here.

  • Thu, September 26, 2024 at 11:00 AM MDT

    The US financial system did not actually have two destructive quarters of GDP in 2022

    A slew of revisions to Gross Home Product (GDP) got here out on Thursday. And whereas the main target is basically on current knowledge, the revisions went again a number of years — and one particularly caught our eye.

    Initially, the Bureau of Financial Evaluation had reported that progress within the US financial system declined at a 0.6% annualized fee within the second quarter of 2022. This adopted a destructive print within the first quarter and, on the time, stirred recession dialogue as two destructive quarters of GDP is an typically referenced indicator of recession.

    However after some revisions revealed on Thursday, it seems the US by no means really had two destructive quarters of GDP. Revisions to GDP knowledge now present the US financial system grew by an annualized fee of 0.6% within the second quarter of 2022.

    This leaves us with some readability on why one of the broadly anticipated recessions in historical past was by no means formally referred to as by the Nationwide Bureau of Financial Analysis. It additionally serves as a reminder of why predicting recessions is so onerous, and even a few of the most distinguished recession indicator creators have informed Yahoo Finance there’ll seemingly by no means be an ideal instrument for such a follow.

  • Thu, September 26, 2024 at 10:22 AM MDT

    S&P 500 poised for file shut

    The benchmark index is on monitor to shut at a brand new all-time-high Thursday, as traders cheered on a batch of encouraging updates, together with strong US financial knowledge, Micron’s (MU) upbeat earnings, and China’s pledges of extra stimulus. Fed Chair Jerome Powell can also be anticipated to ship an announcement Thursday together with different Fed audio system.

    The Dow Jones Industrial Common (^DJI) rose 0.6%, whereas the S&P 500 (^GSPC) added about 0.3% after each gauges slipped again from all-time highs within the prior session. The tech-heavy Nasdaq Composite (^IXIC) gained near 0.3% amid a pointy spike in Micron’s shares.

  • Thu, September 26, 2024 at 9:33 AM MDT

    Tremendous Micro inventory tanks 13% on report of Justice Division probe

    Tremendous Micro Laptop inventory tanked greater than 13% and shares have been quickly halted for volatility after the Wall Road journal reported the Justice Division is investigating the maker of knowledge middle servers.

    The probe comes after quick vendor Hindenburg Analysis in August launched a report claiming, amongst different issues, “accounting manipulation” on the synthetic intelligence excessive flyer.

    Shares dropped as a lot as 17% instantly following the report and have been quickly halted for volatility.

  • Thu, September 26, 2024 at 9:16 AM MDT

    Meta inventory briefly hits all-time excessive as Wall Road bets on AI imaginative and prescient

    Yahoo Finance’s Laura Bratton stories:

    Meta inventory (META) briefly traded at a brand new all-time intraday excessive Thursday, following a developer occasion that put its synthetic intelligence ambitions on show.

    Shares rose as excessive as $577 after market open earlier than edging down 0.7%, or round $564, mid-morning.

    At Meta Join 2024 on Wednesday, CEO Mark Zuckerberg unveiled Meta’s latest AI mannequin, Llama 3.2.

    Learn extra right here.

  • Thu, September 26, 2024 at 9:00 AM MDT

    Goal CEO hopes the corporate will finally take away locked instances because it combats retail theft

    Yahoo Finance’s Brooke DiPalma stories:

    Goal (TGT) is making an attempt to string the needle because it combats retail’s long-running downside: retailer theft.

    “I really feel so significantly better as we speak than I did a yr in the past,” Goal CEO Brian Cornell mentioned in an interview with Yahoo Finance for its Lead This Manner collection. “It comes again to assist on the federal stage, on the state stage, and on the native stage.”

    Cornell commented on current laws, together with state initiatives in California that are “beginning to crack down” on market abuses.

    Learn extra right here.

  • Thu, September 26, 2024 at 8:40 AM MDT

    A authorities shutdown is averted for now — however two new spending fights loom

    Yahoo Finance’s Ben Werschkul stories:

    One final little bit of pre-election lawmaking is now full after Congress staved off a shutdown and funded the federal government for 3 months.

    “I need to thank each homes of Congress,” President Joe Biden mentioned in an announcement “for this bipartisan settlement and for avoiding a pricey authorities shutdown.”

    However the reprieve might be short-lived, with the plan now organising lawmakers to be proper again in the course of a number of spending fights after they return to Washington after voters have their say in November.

    Learn extra right here.

  • Thu, September 26, 2024 at 8:19 AM MDT

    Oil tanks 3% on report Saudi Arabia vows extra provide in December

    Oil tanked greater than 3% on Thursday after the Monetary Occasions reported Saudi Arabia is set to begin unwinding voluntary manufacturing cuts beginning Dec. 1, even when it means decrease crude costs.

    On Thursday West Texas Intermediate (CL=F) fell to commerce beneath $68 per barrel. Brent (BZ=F), the worldwide benchmark value, additionally dropped beneath $71 per barrel.

    OPEC+ has delayed bringing extra barrels onto the market in an effort to assist increased costs. The oil alliance led by Saudi Arabia has been dropping market share to the US and different crude-producing nations.

    Final yr the US produced file quantities of oil and pure gasoline.

  • Thu, September 26, 2024 at 7:30 AM MDT

    Shares rise on robust financial progress knowledge, chip shares acquire

    US shares rose on Thursday, with the S&P 500 (^GSPC) hitting an intraday file excessive following the discharge of a stronger-than-expected GDP print and upbeat earnings from Micron (MU) sending the chip sector increased.

    The Dow Jones Industrial Common (^DJI) rose 0.5%, whereas the S&P 500 added 0.7%. The tech-heavy Nasdaq Composite (^IXIC) led the markets increased, surging 1.2% as Micron shares rose.

    Micron’s outcomes helped raise the chip sector, together with AI heavyweight Nvidia (NVDA), which rose greater than 2% in early buying and selling.

    The most recent financial knowledge reveals second quarter US gross home product (GDP) rose 3% yr over yr, a quicker tempo than Wall Road had anticipated.

  • Thu, September 26, 2024 at 6:40 AM MDT

    Contemporary financial knowledge is available in higher than anticipated

    The US financial system grew at a 3% annualized tempo within the second quarter, a quicker tempo than Wall Road had anticipated.

    The Bureau of Financial Evaluation’s third estimate of second quarter US gross home product (GDP) was unchanged from the second estimate, which confirmed 3% annualized progress. Economists had estimated the studying to indicate annualized progress of two.9%. The third estimate for second quarter GDP confirms that financial progress was increased than the 1.4% annualized progress seen within the first quarter.

    Individually, knowledge from the US Labor Division launched Thursday confirmed 218,000 unemployment claims have been filed within the week ending Sept. 21, beneath Wall Road’s expectations for 223,000. This marked the bottom stage of weekly claims for the reason that center of Could.

    Additionally out Thursday, sturdy items orders for August have been flat, higher than the two.6% decline Wall Road had anticipated.

Source link

Chip clinches data fresh gains GDP Record stock
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investor Ric Edelman reacts to crypto ETF boom

May 10, 2025

Kyndryl Holdings announces operational leadership rotation

May 10, 2025

Foreign tourist boycott begins, as businesses brace for impact

May 10, 2025

A shocking 50% of America’s parents of adult kids still support them financially — to the tune of $1,500/month

May 10, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Taylor Swift Subpoenaed In Blake Lively’s Ongoing Legal Battle

May 11, 2025

Pick the right alignment to avoid construction of big bridges and roads, says RVNL CMD | Business News

May 11, 2025

Investor Ric Edelman reacts to crypto ETF boom

May 10, 2025

Karnataka CM Siddaramaiah orders crackdown on fake news, statewide mock drills | India News

May 10, 2025
Popular Post

H&E Equipment Stock Doubles on Acquisition by United Rentals for $4.8B

Should You Buy Nvidia Stock Hand Over Fist Before Feb. 26?

Ice Network’s Domination Over Pi And Bee Networks

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.