This week, the stock market remained stagnant as it awaited key catalysts amidst persistent inflation concerns, eliminating prospects for an imminent Federal Reserve interest rate cut. Despite strong earnings from Netflix (NFLX) and United Airlines (UAL), investor excitement remains subdued. The Dow Jones gained 1.1%, the S&P 500 rose 1.8%, and the Nasdaq advanced 2.8% on AI chip demand driven by Nvidia (NVDA). Fed Chair Jerome Powell faced criticism over a costly renovation, intensifying Wall Street concerns about bond market volatility. Meanwhile, the House passed the GENIUS Act, establishing significant crypto regulations, which boosted shares of major crypto firms. American Express (AXP) exceeded earnings expectations, signaling robust consumer spending despite tariffs. Additionally, JPMorgan initiated coverage on AI startup OpenAI, projecting a disruption in the search market with substantial growth potential. For ongoing financial updates, tune into Yahoo Finance’s Opening Bid daily at 9:30 a.m. ET.
Source link
Share
Read more