Latest news with #ClarkBellin
Business Recorder
01-08-2025
- Business
- Business Recorder
Wall St cools after Microsoft's $4trn moment
NEW YORK: The S&P 500 and Nasdaq receded from record highs notched earlier on Thursday, as Wall Street shifted its focus beyond Microsoft's $4 trillion milestone and braced for Apple and Amazon's earnings later in the day. Microsoft jumped 5% after a blowout earnings report and briefly crossed $4 trillion in market cap, becoming only the second publicly traded company to ever touch the milestone after Nvidia. Meta Platforms rose 12.1% to a record high as AI-driven growth in its core ad business powered a bullish revenue forecast, while Nvidia also climbed more than 1%. 'The earnings that we got from them fell very much in line with what we were expecting,' said Mark Malek, chief investment officer of Siebert Financial. 'We're bullish on the entire AI infrastructure' and it's very critical that these companies come out with 'superior' earnings announcements, he added. The tech rally sent the S&P technology and communication services indexes to new record peaks. The Nasdaq Composite jumped as much as 1.2% in its strongest intraday rally in nearly a month, before paring gains to 0.8%, while the S&P 500 advanced 0.45%. The Dow Jones Industrial Average, meanwhile, slipped into negative territory and then became flat as UnitedHealth tumbled to a two-month low. Investors weighed a Commerce Department report showing inflation picked up in June, with new tariffs pushing prices higher and stoking expectations that price pressures could intensify in the coming months. 'Inflation remains sticky and justifies the Fed's decision to keep interest rates unchanged,' said Clark Bellin, president and chief investment officer, Bellwether Wealth. Attention now turns to Friday's non-farm payrolls report and a looming tariff deadline, with President Donald Trump refusing to extend trade talks for lagging partners. Separately, weekly jobless claims increased marginally last week, suggesting the labor market remained stable. Easing global trade war fears, signs of US economic resilience, and renewed AI optimism have set Wall Street on course for monthly gains. The S&P 500 and blue-chip Dow are set for a third straight monthly gain - their longest winning streak in nearly a year - while the Nasdaq was on track for its best monthly run since March 2024. Meanwhile, Federal Reserve Chair Jerome Powell cooled hopes for a September rate cut after the central bank held rates steady. Traders now expect a 58.8% chance the Fed will stay pat in September as well, according to CME's FedWatch tool.
Perth Now
31-07-2025
- Business
- Perth Now
Wall St jumps on Microsoft's blockbuster earnings
The S&P 500 and Nasdaq have climbed to new record highs as Microsoft's blockbuster earnings propelled the tech giant and fueled investor confidence in Big Tech's hefty investments in artificial intelligence. Microsoft became the second publicly-traded company after Nvidia to surpass $US4 trillion ($A6.2 trillion) in market valuation, following a blockbuster earnings report. Meta Platforms also climbed 12.1 per cent to an all-time high in early trading, after the social media giant forecast third-quarter revenue well above estimates, thanks to AI boosting its core advertising business. Nvidia gained more than one per cent. The S&P technology index and the communication services index both hit record highs, up 1.2 per cent and over three per cent, respectively. In early trading on Thursday, the Dow Jones Industrial Average rose 88.73 points, or 0.20 per cent, to 44,550.01, the S&P 500 gained 45.18 points, or 0.71 per cent, to 6,408.08 and the Nasdaq Composite gained 245.09 points, or 1.16 per cent, to 21,374.76. A Commerce Department report showed US inflation increased in June as tariffs on imports started raising the cost of some goods, supporting economists' expectations that price pressures would pick up in the second half of the year. "Thursday's PCE was stronger than expected and throws cold water on the idea of (an autumn) rate-cut, as it's clear that lower interest rates are not justified at this time," said Clark Bellin, president and chief investment officer, Bellwether Wealth. "Inflation remains sticky and justifies the Fed's decision to keep interest rates unchanged at Wednesday's meeting." Separately, weekly jobless claims increased marginally last week, suggesting the labour market remained stable. Attention now turns to Friday's non-farm payrolls report and a looming tariff deadline, with President Donald Trump refusing to extend trade talks for lagging partners. Easing global trade war fears, signs of US economic resilience, and renewed AI optimism have set Wall Street on course for monthly gains. The S&P 500 and blue-chip Dow are set for a third straight monthly gain - their longest winning streak in nearly a year - while the Nasdaq was on track for its best monthly run since March 2024. On Wednesday, Federal Reserve Chair Jerome Powell diluted investor expectations for an interest rate cut in September after the central bank kept rates unchanged. Traders now see a 58.8 per cent chance the Fed will stay pat in September as well, according to CME's FedWatch tool. Powell said it was too early to predict a September rate cut, and that current policy was not restricting the economy. The statement came after stronger-than-expected GDP data for the second quarter. The "hold" verdict prompted another jibe on Powell by Trump, while Treasury Secretary Scott Bessent said he expected an announcement on Powell's successor by year-end. EU officials said European liquor could face 15 per cent tariffs from August 1 until a different agreement is reached, with talks set to continue in the autumn. Trump's deal with South Korea on Wednesday cut the country's import tariff to 15 per cent from the previously threatened 25 per cent. Among other stocks, Applied Digital soared 32.7 per cent after the data centre operator surpassed estimates for quarterly revenue. Declining issues outnumbered advancers by a 1.17-to-1 ratio on the NYSE, and by a 1.16-to-1 ratio on the Nasdaq.
West Australian
31-07-2025
- Business
- West Australian
Wall St jumps on Microsoft's blockbuster earnings
The S&P 500 and Nasdaq have climbed to new record highs as Microsoft's blockbuster earnings propelled the tech giant and fueled investor confidence in Big Tech's hefty investments in artificial intelligence. Microsoft became the second publicly-traded company after Nvidia to surpass $US4 trillion ($A6.2 trillion) in market valuation, following a blockbuster earnings report. Meta Platforms also climbed 12.1 per cent to an all-time high in early trading, after the social media giant forecast third-quarter revenue well above estimates, thanks to AI boosting its core advertising business. Nvidia gained more than one per cent. The S&P technology index and the communication services index both hit record highs, up 1.2 per cent and over three per cent, respectively. In early trading on Thursday, the Dow Jones Industrial Average rose 88.73 points, or 0.20 per cent, to 44,550.01, the S&P 500 gained 45.18 points, or 0.71 per cent, to 6,408.08 and the Nasdaq Composite gained 245.09 points, or 1.16 per cent, to 21,374.76. A Commerce Department report showed US inflation increased in June as tariffs on imports started raising the cost of some goods, supporting economists' expectations that price pressures would pick up in the second half of the year. "Thursday's PCE was stronger than expected and throws cold water on the idea of (an autumn) rate-cut, as it's clear that lower interest rates are not justified at this time," said Clark Bellin, president and chief investment officer, Bellwether Wealth. "Inflation remains sticky and justifies the Fed's decision to keep interest rates unchanged at Wednesday's meeting." Separately, weekly jobless claims increased marginally last week, suggesting the labour market remained stable. Attention now turns to Friday's non-farm payrolls report and a looming tariff deadline, with President Donald Trump refusing to extend trade talks for lagging partners. Easing global trade war fears, signs of US economic resilience, and renewed AI optimism have set Wall Street on course for monthly gains. The S&P 500 and blue-chip Dow are set for a third straight monthly gain - their longest winning streak in nearly a year - while the Nasdaq was on track for its best monthly run since March 2024. On Wednesday, Federal Reserve Chair Jerome Powell diluted investor expectations for an interest rate cut in September after the central bank kept rates unchanged. Traders now see a 58.8 per cent chance the Fed will stay pat in September as well, according to CME's FedWatch tool. Powell said it was too early to predict a September rate cut, and that current policy was not restricting the economy. The statement came after stronger-than-expected GDP data for the second quarter. The "hold" verdict prompted another jibe on Powell by Trump, while Treasury Secretary Scott Bessent said he expected an announcement on Powell's successor by year-end. EU officials said European liquor could face 15 per cent tariffs from August 1 until a different agreement is reached, with talks set to continue in the autumn. Trump's deal with South Korea on Wednesday cut the country's import tariff to 15 per cent from the previously threatened 25 per cent. Among other stocks, Applied Digital soared 32.7 per cent after the data centre operator surpassed estimates for quarterly revenue. Declining issues outnumbered advancers by a 1.17-to-1 ratio on the NYSE, and by a 1.16-to-1 ratio on the Nasdaq.
Economic Times
31-07-2025
- Business
- Economic Times
S&P 500, Nasdaq hit record highs as Meta, Microsoft results fan AI frenzy
The S&P 500 and Nasdaq climbed to new record highs on Thursday, as Microsoft's blockbuster earnings propelled the tech giant past the $4 trillion milestone and fueled investor confidence in Big Tech's hefty investments in artificial intelligence. ADVERTISEMENT Microsoft became the second publicly traded company after Nvidia to surpass $4 trillion in market valuation, following a blockbuster earnings report. Meta Platforms also climbed 12.1% to an all-time high in early trading, after the social media giant forecast third-quarter revenue well above estimates, thanks to AI boosting its core advertising business. Nvidia gained more than 1%.The S&P technology index and the communication services index both hit record highs, up 1.2% and over 3%, respectively. At 09:50 a.m. ET, the Dow Jones Industrial Average rose 88.73 points, or 0.20%, to 44,550.01, the S&P 500 gained 45.18 points, or 0.71%, to 6,408.08 and the Nasdaq Composite gained 245.09 points, or 1.16%, to 21,374.76. ADVERTISEMENT A Commerce Department report showed U.S. inflation increased in June as tariffs on imports started raising the cost of some goods, supporting economists' expectations that price pressures would pick up in the second half of the year."Thursday's PCE was stronger than expected and throws cold water on the idea of a fall rate-cut, as it's clear that lower interest rates are not justified at this time," said Clark Bellin, president and chief investment officer, Bellwether Wealth. ADVERTISEMENT "Inflation remains sticky and justifies the Fed's decision to keep interest rates unchanged at Wednesday's meeting."Separately, weekly jobless claims increased marginally last week, suggesting the labor market remained stable. ADVERTISEMENT Attention now turns to Friday's non-farm payrolls report and a looming tariff deadline, with President Donald Trump refusing to extend trade talks for lagging global trade war fears, signs of U.S. economic resilience, and renewed AI optimism have set Wall Street on course for monthly gains. ADVERTISEMENT The S&P 500 and blue-chip Dow are set for a third straight monthly gain - their longest winning streak in nearly a year - while the Nasdaq was on track for its best monthly run since March Wednesday, Federal Reserve Chair Jerome Powell diluted investor expectations for an interest rate cut in September after the central bank kept rates now see a 58.8% chance the Fed will stay pat in September as well, according to CME's FedWatch said it was too early to predict a September rate cut, and that current policy was not restricting the economy. The statement came after stronger-than-expected GDP data for the second "hold" verdict prompted another jibe on Powell by Trump, while Treasury Secretary Scott Bessent said he expected an announcement on Powell's successor by officials said European liquor could face 15% tariffs from August 1 until a different agreement is reached, with talks set to continue in the deal with South Korea on Wednesday cut the country's import tariff to 15% from the previously threatened 25%.Among other stocks, Applied Digital soared 32.7% after the data center operator surpassed estimates for quarterly revenue. Declining issues outnumbered advancers by a 1.17-to-1 ratio on the NYSE, and by a 1.16-to-1 ratio on the Nasdaq.
Business Recorder
31-07-2025
- Business
- Business Recorder
Wall Street jumps as Microsoft enters $4 trillion club after results
The S&P 500 and Nasdaq climbed to new record highs on Thursday, as Microsoft's blockbuster earnings propelled the tech giant past the $4 trillion milestone and fueled investor confidence in Big Tech's hefty investments in artificial intelligence. Microsoft became the second publicly traded company after Nvidia to surpass $4 trillion in market valuation, following a blockbuster earnings report. Meta Platforms also climbed 12.1% to an all-time high in early trading, after the social media giant forecast third-quarter revenue well above estimates, thanks to AI boosting its core advertising business. Nvidia gained more than 1%. The S&P technology index and the communication services index both hit record highs, up 1.2% and over 3%, respectively. At 09:50 a.m. ET, the Dow Jones Industrial Average rose 88.73 points, or 0.20%, to 44,550.01, the S&P 500 gained 45.18 points, or 0.71%, to 6,408.08 and the Nasdaq Composite gained 245.09 points, or 1.16%, to 21,374.76. A Commerce Department report showed U.S. inflation increased in June as tariffs on imports started raising the cost of some goods, supporting economists' expectations that price pressures would pick up in the second half of the year. Wall Street swings to losses as earnings weigh 'Thursday's PCE was stronger than expected and throws cold water on the idea of a fall rate-cut, as it's clear that lower interest rates are not justified at this time,' said Clark Bellin, president and chief investment officer, Bellwether Wealth. 'Inflation remains sticky and justifies the Fed's decision to keep interest rates unchanged at Wednesday's meeting.' Separately, weekly jobless claims increased marginally last week, suggesting the labor market remained stable. Attention now turns to Friday's non-farm payrolls report and a looming tariff deadline, with President Donald Trump refusing to extend trade talks for lagging partners. Easing global trade war fears, signs of U.S. economic resilience, and renewed AI optimism have set Wall Street on course for monthly gains. The S&P 500 and blue-chip Dow are set for a third straight monthly gain - their longest winning streak in nearly a year - while the Nasdaq was on track for its best monthly run since March 2024. On Wednesday, Federal Reserve Chair Jerome Powell diluted investor expectations for an interest rate cut in September after the central bank kept rates unchanged. Traders now see a 58.8% chance the Fed will stay pat in September as well, according to CME's FedWatch tool. Powell said it was too early to predict a September rate cut, and that current policy was not restricting the economy. The statement came after stronger-than-expected GDP data for the second quarter. The 'hold' verdict prompted another jibe on Powell by Trump, while Treasury Secretary Scott Bessent said he expected an announcement on Powell's successor by year-end. EU officials said European liquor could face 15% tariffs from August 1 until a different agreement is reached, with talks set to continue in the fall. Trump's deal with South Korea on Wednesday cut the country's import tariff to 15% from the previously threatened 25%. Among other stocks, Applied Digital soared 32.7% after the data center operator surpassed estimates for quarterly revenue. Declining issues outnumbered advancers by a 1.17-to-1 ratio on the NYSE, and by a 1.16-to-1 ratio on the Nasdaq.
