Latest news with #TechnologySelectSectorSPDR
Yahoo
4 days ago
- Business
- Yahoo
Stock Market News for Jun 4, 2025
U.S. stocks closed higher on Tuesday, driven by a chipmaker rally, as investors awaited more clarity on potential trade deals between the United States and its trading partners. All three major indexes ended in positive territory. The Dow Jones Industrial Average (DJI) rose 0.5% or 214.16 points, to end at 42,519.64 points. The S&P 500 gained 0.6% or 34.43 points to close at 5,970.37 points. Materials and tech stocks were the biggest gainers. The Materials Select Sector SPDR (XLB) gained 1%, while the Technology Select Sector SPDR (XLK) rose 1.5%. The Industrials Select Sector SPDR (XLI) added 0.8%. Eight of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq jumped 0.8%, or 156.34 points, to finish at 19,398.96 points. The fear-gauge CBOE Volatility Index (VIX) was down 3.65% to 17.69. Advancers outnumbered decliners on the NYSE by a 2.32-to-1 ratio. On Nasdaq, a 2.07-to-1 ratio favored advancing issues. A total of 15.69 billion shares were traded on Tuesday, lower than the last 20-session average of 17.8 billion. Chip stocks rallied on Tuesday, led by NVIDIA Corporation (NVDA). Shares of the artificial intelligence darling ended 2.8% higher on Tuesday, surpassing Microsoft Corporation (MSFT) in market capitalization for the first time this year. Shares of other chipmakers like Micron Technology, Inc. (MU) and Broadcom Inc. (AVGO) also jumped 4.2% and 3.3%, respectively. NVIDIA has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Investors are also optimistic about the United States reaching more trade deals with partner nations. The White House said on Monday that President Donald Trump and Chinese President Xi Jinping will meet this week after Trump accused Beijing of violating a temporary trade agreement. The Trump administration also wants other countries to come up with their best offers by Wednesday so that trade negotiations and accelerate before the temporary 90-day pause comes to an end. Meanwhile, the Organization for Economic Co-operation and Development cut its U.S. growth outlook to 1.6% this year from the earlier forecast of 2.2%. Tariff uncertainty was the key reason cited by the OECD to cut the forecast. In the first major jobs report set released this week, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, showed job openings increased in April. The report showed that 1.03 job openings for every unemployed person. Job openings rose 191,000 to 7.391 million in April, slightly up from March. However, layoffs hit a nine-month high in April. Layoffs rose 196,000, the largest since July, but still a low of 1.786 million. In other economic data, factory orders declined 3.7% in April after an unrevised 3.4% jump in March, the Commerce Department reported. However, factory orders increased 2% year over year in April. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
12-05-2025
- Business
- CNBC
Buy the tech comeback or take profits? Katie Stockton uses charts to find an answer
Technology stocks are high-beta in nature, meaning they tend to lead the market on the upside and the downside, outperforming when the market is strong and underperforming when the market is weak. Given their tendency to lead the market (in both directions) and their 30% weighting in the S & P 500 Index (SPX) , it is important to have an understanding of where the technology sector stands from a technical perspective. Starting with a monthly bar chart, it is evident the Technology Select Sector SPDR has a secular uptrend in place above the rising monthly cloud model. Within that context, long-term momentum has weakened notably per the monthly MACD, which saw a bearish crossover at the end of March. The "sell" signal is the first since early 2022, and it has implications for at least 6 months of corrective price action, suggesting a cyclical bear market has taken hold. While the technology sector has technically entered a bear cycle, we ultimately expect secular bull to regain hold, likely sometime in 2026. Recently, XLK has rebounded strongly off the April low, with today's gap higher allowing the ETF to clear its 200-day moving average (MA): The breakout extends the rally in a near-term positive development, but the deterioration on the monthly chart is an overhang that suggests the rally may lose momentum abruptly. There is an area of supply on the chart in the $228-$241 zone, where XLK traded in a narrow range from early December through much of February. This is a natural place for the rally to stall, leaving former highs intact. As previously mentioned, technology stocks have a tendency to exhibit upside leadership during rallies and downside leadership during downdrafts. The latest upturn in the ratio of XLK to the SPX reflects outperformance while the market has rebounded. Preceding the upturn, the ratio saw a significant downdraft in Q1 that resulted in a breakdown, indicating a bearish shift in XLK's relative strength trend. This makes the current phase of outperformance appear counter-trend in nature, such that it is likely to be short-lived from here. Once there are signs that the relief rally in the major indices is maturing, we would be quick to reduce exposure to high-beta technology stocks. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . 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Yahoo
03-05-2025
- Business
- Yahoo
Stock Market News for May 2, 2025
U.S. stock markets closed higher on Thursday to start May. Strong earnings results by AI giants have boosted market participants' confidence on risky assets like equities. No bad news on tariffs and trade related issues also bolstered investors' sentiment. All three major stock indexes ended in green. The Dow Jones Industrial Average (DJI) rose 0.2% to close at 40,752.96. The blue-chip index posted a eight-day winning streak, for the first time since July 2024. Notably, 15 components of the 30-stock index ended in positive territory and 15 finished in negative zone. The tech-heavy Nasdaq Composite finished at 17,710.74, rising 1.5% or 264.40 points due to strong performance of technology bigwigs. The S&P 500 was up 0.6% to finish at 5,604.14. The benchmark posted a eight-day winning run, for the first time since November 2024. Eight out of 11 broad sectors of the broad-market index ended in positive territory and three in negative zone. The Technology Select Sector SPDR (XLK) rose 1.5%, while the Health Care Select Sector SPDR (XLV) fell 2.7%. The fear-gauge CBOE Volatility Index (VIX) was down 0.4% to 24.60. A total of 16.15 billion shares were traded on Thursday, lower than the last 20-session average of 19.56 billion. Advancers outnumbered decliners on the NYSE by a 1.31-to-1 ratio. On Nasdaq, a 1.19-to-1 ratio favored advancing issues. Meta Platforms Inc. META reported first-quarter 2025 earnings of $6.43 per share, beating the Zacks Consensus Estimate by 23.18%. The figure surged 36.5% year over year. Revenues of $42.31 billion beat the Zacks Consensus Estimate by 2.61% and increased 16.1% year over year. At constant currency, revenues soared 19% year over year. Microsoft Corp. MSFT reported third-quarter fiscal 2025 earnings of $3.46 per share, which beat the Zacks Consensus Estimate by 8.13% and increased 17.7% on a year-over-year basis. Revenues of $70.06 billion increased 13.3% year over year and beat the Zacks Consensus Estimate by 2.46%. At constant currency, revenues grew 15% year over year, showcasing strong demand for cloud and AI offerings. Consequently, stock price of Meta Platforms and Microsoft climbed 9% and 7.6%, respectively. Both stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The institute of Supply Management (ISM) reported that manufacturing PMI (purchasing managers' index) for April contracted to 48.7% from 49% in March. The consensus estimate was 48.8%. Any reading below 50% indicates contraction in manufacturing activities. The new orders index rose to 47.2% in April from 45.2% in March. The Employment Index in April came in at 46.5% from March's figure of 44.7%. Construction spending decreased 0.5% in March, in contrast to the consensus estimate of an increase of 0.2%. The metric for February was revised downward to 0.6% from 0.7% reported earlier. The Department of Labor reported that initial claims increased 18,000 to 241,000 for the week ended April 26, higher-than the consensus estimate of 225,000. Previous week's data was revised upward from 222,000 to 223,000. Continuing claims (those who have already received government aids and reported a week behind) increased 83,000 to 1.916 million. This is the highest level for insured unemployment since the week ended Nov. 13, 2021. Previous week's data was revised downward by 8,000 to 1.833 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Globe and Mail
02-05-2025
- Business
- Globe and Mail
Stock Market News for May 2, 2025
U.S. stock markets closed higher on Thursday to start May. Strong earnings results by AI giants have boosted market participants' confidence on risky assets like equities. No bad news on tariffs and trade related issues also bolstered investors' sentiment. All three major stock indexes ended in green. How Did The Benchmarks Perform? The Dow Jones Industrial Average (DJI) rose 0.2% to close at 40,752.96. The blue-chip index posted a eight-day winning streak, for the first time since July 2024. Notably, 15 components of the 30-stock index ended in positive territory and 15 finished in negative zone. The tech-heavy Nasdaq Composite finished at 17,710.74, rising 1.5% or 264.40 points due to strong performance of technology bigwigs. The S&P 500 was up 0.6% to finish at 5,604.14. The benchmark posted a eight-day winning run, for the first time since November 2024. Eight out of 11 broad sectors of the broad-market index ended in positive territory and three in negative zone. The Technology Select Sector SPDR (XLK) rose 1.5%, while the Health Care Select Sector SPDR (XLV) fell 2.7%. The fear-gauge CBOE Volatility Index (VIX) was down 0.4% to 24.60. A total of 16.15 billion shares were traded on Thursday, lower than the last 20-session average of 19.56 billion. Advancers outnumbered decliners on the NYSE by a 1.31-to-1 ratio. On Nasdaq, a 1.19-to-1 ratio favored advancing issues. Earnings Data Meta Platforms Inc. META reported first-quarter 2025 earnings of $6.43 per share, beating the Zacks Consensus Estimate by 23.18%. The figure surged 36.5% year over year. Revenues of $42.31 billion beat the Zacks Consensus Estimate by 2.61% and increased 16.1% year over year. At constant currency, revenues soared 19% year over year. Microsoft Corp. MSFT reported third-quarter fiscal 2025 earnings of $3.46 per share, which beat the Zacks Consensus Estimate by 8.13% and increased 17.7% on a year-over-year basis. Revenues of $70.06 billion increased 13.3% year over year and beat the Zacks Consensus Estimate by 2.46%. At constant currency, revenues grew 15% year over year, showcasing strong demand for cloud and AI offerings. Consequently, stock price of Meta Platforms and Microsoft climbed 9% and 7.6%, respectively. Both stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Economic Data The institute of Supply Management (ISM) reported that manufacturing PMI (purchasing managers' index) for April contracted to 48.7% from 49% in March. The consensus estimate was 48.8%. Any reading below 50% indicates contraction in manufacturing activities. The new orders index rose to 47.2% in April from 45.2% in March. The Employment Index in April came in at 46.5% from March's figure of 44.7%. Construction spending decreased 0.5% in March, in contrast to the consensus estimate of an increase of 0.2%. The metric for February was revised downward to 0.6% from 0.7% reported earlier. The Department of Labor reported that initial claims increased 18,000 to 241,000 for the week ended April 26, higher-than the consensus estimate of 225,000. Previous week's data was revised upward from 222,000 to 223,000. Continuing claims (those who have already received government aids and reported a week behind) increased 83,000 to 1.916 million. This is the highest level for insured unemployment since the week ended Nov. 13, 2021. Previous week's data was revised downward by 8,000 to 1.833 million. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Microsoft Corporation (MSFT): Free Stock Analysis Report Meta Platforms, Inc. (META): Free Stock Analysis Report
Yahoo
25-04-2025
- Business
- Yahoo
Stock Market News for Apr 25, 2025
U.S. stocks closed higher on Thursday, driven by a tech rally, as investors looked for more signs of easing global trade conflict. Investors also digested a mixed bag of corporate earnings. All three major indexes ended in positive territory. The Dow Jones Industrial Average (DJI) gained 1.2% or 486.83 points, to close at 40,093.40 points. This was also the first time the blue-chip index closed above the 40,000 mark since April 15. The S&P 500 jumped 2% or 108.91 points to end at 5,484.77 points and exit correction territory after recording its third straight day of gains. Tech and materials, industrials and consumer discretionary stocks were the biggest gainers. The Technology Select Sector SPDR (XLK) rose 3.7%, while the Consumer Discretionary Select Sector SPDR (XLY) gained 2%. The Materials Select Sector SPDR (XLB) and Industrials Select Sector SPDR (XLI) each added 2.2%. Ten of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq climbed 2.7% or 457.99 points to finish at 17,166.04 points. The fear-gauge CBOE Volatility Index (VIX) was down 6.96% to 26.47. Advancers outnumbered decliners on the NYSE by a 5.84-to-1 ratio. On Nasdaq, a 3.38-to-1 ratio favored advancing issues. A total of 14.95 billion shares were traded on Thursday, lower than the last 20-session average of 19.15 billion. Optimism surrounding easing trade tensions between the United States and China has been boosting stocks this week. The momentum continued for the third straight session on Thursday. However, China said that no trade talks were taking place with the United States and called for the cancellation of 'unilateral tariffs' first. China's comments came a day after President Donald Trump said that he would take a less aggressive stance toward trade talks with China. Also, Treasury Secretary Scott Bessent said that both the U.S. and China have a chance to crack a 'big deal' on trade. Although there is a lack of clarity on trade negotiations, investors are optimistic after Trump's comments that the tariffs will be much less than they currently are. The U.S. currently has a 145% tariff on all Chinese imports. Tech stocks led Thursday's rally after suffering for weeks owing to the uncertainty over the impact of tariffs on the nation's economy. Shares of NVIDIA Corporation (NVDA) rose 3.6%, while Inc. (AMZN) and Meta Platforms, Inc. (META) gained 5.9% and 2.5%, respectively Meta Platforms has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Investors also shifted focus to the earnings season, which some big names reporting their quarterly results on Thursday. Shares of The Procter & Gamble Company (PG) ended 3.7% lower after the company reported third-quarter fiscal 2025 earnings of $1.54 per share, which came in line with the Zacks Consensus Estimate. Shares of American Airlines Group Inc. (AAL) popped 3.1% after the company reported first-quarter 2025 loss of $0.59 per share, narrower than the Zacks Consensus Estimate of a loss of $0.69. The Labor Department reported that jobless claims totaled 222,000 for the week ending April 19, increasing 6,000 from the previous week's revised level of 216,00. The four-week moving average was 220,250, a decrease of 750 from the previous week's revised average of 221,000. Continuing claims came in at 1,841,000, a decrease of 37,000 from the previous week's revised level of 1,878,000. The 4-week moving average was 1,864,000, a decrease of 1,500 from the previous week's revised average of 1,865,500. The National Association of Realtors said that existing home sales declined 5.9% in March to a seasonally adjusted annual rate of 4.02 million. Year over year, existing home sales 2.4% in March. In a separate report, the Commerce Department said that orders for durable goods, items meant to last three years or more, jumped 9.2% in March, sharply higher than the consensus estimate of a rise of 2%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN) : Free Stock Analysis Report Procter & Gamble Company (The) (PG) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
