Latest news with #NYSEArcaNetworkingIndex
Business Standard
07-08-2025
- Business
- Business Standard
Markets Rally as Apple Boosts U.S. Investment; Tech and Retail Stocks Lead Gains
Apple's $100B expansion plan lifts sentiment, pushing Nasdaq and S&P higher. Strong earnings drive tech and retail stocks while pharma lags. The Nasdaq jumped 252.87 points (1.2%) to 21,169.42 and the S&P 500 climbed 45.87 points (0.7%) to 6,345.06. The narrower Dow posted a more modest gain, rising 81.38 points (0.2%) to 44,193.12. Apple (AAPL) helped lead the markets higher, surging by 5.1% following reports the company will announce plans to invest another $100 billion to expand its U.S. operations during a White House event later today. Apple CEO Tim Cook is expected to join President Trump to announce plans to raise U.S. investments to $600 billion. Meanwhile, stocks saw mixed moves as McDonalds rose 3% and Shopify surged 22% on strong earnings. In contrast, Super Micro Computer and Snap plunged 18.3% and 17.2% respectively on weak results, while Disney slipped after reporting mixed earnings. Networking stocks turned in some of the market's best performances, with the NYSE Arca Networking Index surging by 5.6% to a record closing high. Arista Networks (ANET) helped lead the sector higher, soaring by 17.5% after reporting better than expected second quarter results and boosting its guidance. Retail stocks was significantly strong, as reflected by the 2.8% jump by the Dow Jones U.S. Retail Index. Gold and airline stocks are turned in strong performances on the day. Pharmaceutical stocks notably moved downwards, dragging the NYSE Arca Pharmaceutical Index down by 1.9%. Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index advanced by 0.6%, while China's Shanghai Composite Index climbed by 0.5%. The major European markets also moved to the upside on the day. While the German DAX Index rose by 0.3%, the French CAC 40 Index and the U.K.'s FTSE 100 Index both closed up by 0.2%. In the bond market, treasuries moved lower after ending the previous session roughly flat. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, rose 2.4 bps to 4.22%.
Business Standard
05-08-2025
- Business
- Business Standard
Wall Street Rebounds Sharply as Rate Cut Hopes and Bargain Buying Fuel Broad-Based Rally
U.S. markets surged with the Nasdaq up 2%, driven by expectations of a Fed rate cut, easing tariff fears, and sector-wide gains. Networking, gold, and tech stocks led the rally while global markets largely followed the positive trend. The Nasdaq surged 403.45 points (2%) to 21,053.58, the S&P 500 shot up 91.93 points (1.5%) to 6,329.94 and the Dow jumped 585.06 points (1.3%) to 44,173.64. Wall Street rallied as traders seized the opportunity to buy stocks at discounted prices after a recent sell-off. The previous steep decline was driven by concerns over President Trump's new tariffs, disappointing jobs data, and a sharp drop in Amazon shares. However, hopes that weak employment numbers could prompt the Federal Reserve to cut interest rates next month boosted investor sentiment. This renewed optimism helped lift the markets from their recent lows. According to CME Group's FedWatch Tool, the chances of a quarter point rate cut in September have jumped to 91.9% from 63.1% a week ago. the Commerce Department released a report showing factory orders pulled back sharply in the month of June. Further, it said factory orders dove by 4.8% in June after soaring by an upwardly revised 8.3% in May. Networking stocks substantially moved upside, with the NYSE Arca Networking Index spiking by 10% to a record closing high. CommScope (COMM) led the sector higher, skyrocketing by 86.3% after announcing an agreement to sell its connectivity and cable solutions business to Amphenol (APH). Gold stocks too saw significant strength amid a continued surge by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 4.7%. Software, brokerage and computer hardware stocks too moved strongly upwards , moving higher along with most of the other major sectors. Asia-Pacific stocks moved mostly higher. China's Shanghai Composite Index climbed by 0.7% and Hong Kong's Hang Seng Index advanced by 0.9%, although Japan's Nikkei 225 Index bucked the uptrend and slumped by 1.3%. The major European markets all moved to the upside on the day while the German DAX Index shot up by 1.4%, the French CAC 40 Index jumped by 1.1% and the U.K.'s FTSE 100 Index increased by 0.7%. In the bond market, treasuries moved modestly higher over the course of the session after showing a lack of direction early in the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 2 bps to a three-month closing low of 4.20%.
Business Standard
18-07-2025
- Business
- Business Standard
U.S. Stocks Climb as Retail Sales and Jobless Claims Beat Expectations
Nasdaq, S&P 500 and Dow all rose, driven by strong retail data and low jobless claims; networking and oil service stocks lead market gains. The Nasdaq advanced 153.78 points or 0.7% to 20,884.27, the S&P 500 climbed 33.66 points or 0.5% to 6,297.36 and the Dow rose 229.71 points or 0.5% to 44,484.49. Commerce department released a report showing retail sales rebounded by much more than expected in June. The report said retail sales climbed by 0.6% in June after slumping by 0.9% in May. Economists had expected retail sales to inch up by 0.1%. Excluding a jump in sales by motor vehicle and parts dealers, retail sales still rose by 0.5% in June after edging down by 0.2% in May. Ex-auto sales were expected to rise by 0.3%. Labor Department published a report showing first-time claims for U.S. unemployment benefits unexpectedly dipped to a three-month low in the week ended July 12th. It said the initial jobless claims fell to 221,000, a decrease of 7,000 from the previous week's revised level of 228,000. It also released another report showing import prices in the U.S. inched up by less than expected in the month of June. Networking stocks turned in some of the market's best performances on the day, with the NYSE Arca Networking Index surging by 2.0%. Oil service stocks too were significantly strong amid a sharp increase by the price of crude oil, driving the Philadelphia Oil Service Index up by 1.7%. Financial, steel and software stocks too strongly moved upwards while pharmaceutical and healthcare stocks came under pressure over the course of the session. Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index advanced by 0.6%, while China's Shanghai Composite Index rose by 0.4%. The major European markets too moved upside while the U.K.'s FTSE 100 Index climbed by 0.5%, the French CAC 40 Index and the German DAX Index jumped by 1.3% and 1.5%. In the bond market, treasuries showed a lack of direction over the course of the session before closing roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.46%.
Business Standard
07-07-2025
- Business
- Business Standard
Wall Street Rallies on Strong Jobs Data; Nasdaq Hits 20,600, Networking and Software Stocks Lead Gains
Markets surged as U.S. payrolls beat expectations and unemployment dipped to 4.1%. Bond yields rose while networking stocks hit record highs. The Nasdaq jumped 207.97 points (1%) to 20,601.10, the S&P 500 advanced 51.93 points (0.8%) to 6,279.35 and the Dow climbed 344.11 points (0.7%) to 44,828.53. The Labor Department said non-farm payroll employment shot up by 147,000 jobs in June after jumping by an upwardly revised 144,000 jobs in May. The report also said the unemployment rate edged down to 4.1% in June from 4.2% in May. The unemployment rate was expected to inch up to 4.3%. The ISM said its services PMI rose to 50.8 in June from 49.9 in May, with a reading above 50 indicating growth. Networking stocks turned in some of the market's best performances, with the NYSE Arca Networking Index surging by 2.3% to a record closing high. Software stocks were considerably strong, as reflected by the 1.9% gain posted by the Dow Jones U.S. Software Index. Banking, retail and airline stocks was notably strong while housing stocks significantly moved downwards. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index inched up by 0.1% and China's Shanghai Composite Index edged up by 0.2%, while Hong Kong's Hang Seng Index fell by 0.6%. Meanwhile, the major European have all moved upwards while the French CAC 40 Index crept up by 0.6%, the U.K.'s FTSE 100 Index and the German DAX Index both climbed by 0.6%. In the bond market, treasuries have seen continued weakness in reaction to the stronger than expected jobs data. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, has advanced 5.5 bps to 4.34%.
Business Standard
04-07-2025
- Business
- Business Standard
US Stocks Rally on Strong Jobs Data, Trump's Big Beautiful Bill clears US Congress
Markets gained as non-farm payrolls edge up, The Nasdaq jumped 207.97 points (1%) to 20,601.10, the S&P 500 advanced 51.93 points (0.8%) to 6,279.35 and the Dow climbed 344.11 points (0.7%) to 44,828.53. U.S. non-farm payrolls rose by 147,000 in June, beating expectations, while unemployment fell to 4.1%. Traders reacted positively, though the strong data may delay Fed rate cuts. Market also eyed passing of President Donald Trumps massive tax-cut and spending package by the US Congress. The "Big, Beautiful' bill passed by a slim 218-214 margin, marking a major legislative win for the US President. Positive sentiment may also have been generated in reaction to a report from the Institute for Supply Management showing the service sector returned to growth in the month of June. The ISM said its services PMI rose to 50.8 in June from 49.9 in May, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5. Networking stocks turned in some of the market's best performances, with the NYSE Arca Networking Index surging by 2.3% to a record closing high. Software stocks were considerably strong, as reflected by the 1.9% gain posted by the Dow Jones U.S. Software Index. Banking, retail and airline stocks also saw notable strength on the day, while housing stocks showed a significant move back to the downside. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index inched up by 0.1% and China's Shanghai Composite Index edged up by 0.2%, while Hong Kong's Hang Seng Index fell by 0.6%. The major European have all moved to the upside on the day while the French CAC 40 Index crept up by 0.6%, the U.K.'s FTSE 100 Index and the German DAX Index both climbed by 0.6%. In the bond market, treasuries have seen continued weakness in reaction to the stronger than expected jobs data. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, has advanced 5.5 bps to 4.34%.
