Live Market Updates: NVIDIA (Nasdaq: NVDA) Outperforming Magnificent 7 Stocks
Here we go again. At 8:50 a.m. ET, indexes are flashing red: Nasdaq Futures: -1.63% S&P Futures: -1.74% Dow Futures: -2.06% Generally, in days with sharp sell-offs, the Nasdaq has sold off at a steeper rate than the Dow, which contains many stocks seen as a safe haven in a recession. However, today the Dow […] The post Live Market Updates: NVIDIA (Nasdaq: NVDA) Outperforming Magnificent 7 Stocks appeared first on 24/7 Wall St..
Here we go again. At 8:50 a.m. ET, indexes are flashing red:
- Nasdaq Futures: -1.63%
- S&P Futures: -1.74%
- Dow Futures: -2.06%
Generally, in days with sharp sell-offs, the Nasdaq has sold off at a steeper rate than the Dow, which contains many stocks seen as a safe haven in a recession.
However, today the Dow is seeing the largest declines among major indexes in pre-market trading. That’s good news for some Magnificent 7 stocks, like NVIDIA (Nasdaq: NVDA). Let’s take a closer look at today’s news.
Key Points
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Magnificent 7 stocks are outperforming the broader market on Wednesday morning, but most stocks are down.
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Two Events Weigh on Markets
What are the main reasons the market is down today? First, China retaliated against tariffs that went into effect at a 104% rate last night. China responded by issuing an 84% tariff rate on goods coming from the United States.
Another event to watch today, Europe is expected to announce its own retaliatory tariffs. The more countries that announce reciprocal tariffs, the greater chance we’re in a protracted trade war that will cause a sharp drop in corporate earnings.
Another event to watch is the yield on 10-Year Treasuries continues to soar. On Monday morning, 10-Year Treasuries were yielding 3.9%, they’ve raced 55 basis points higher to 4.45% this morning.
If Treasuries continue spiking, it’s likely stocks will head lower. Higher rates are a headwind to the economy and make buying fixed income relatively more attractive than stocks.
Some Mag 7 Stocks Outperforming
Despite the broader market sell-off, investors are piling into some Magnificent 7 stocks this morning. For example, NVIDIA (Nasdaq: NVDA) shares are up 2% in pre-market trading.
Here’s a look at other Mangificent 7 stocks are performing:
- Apple (Nasdaq: AAPL): .54%
- Amazon (Nasdaq: AMZN): .07%
- Tesla (Nasdaq: TSLA): 1.16%
- Alphabet (Nasdaq: GOOGL): Down .014%
- Meta Platforms (Nasdaq: META): Down .68%
- Microsoft (Nasdaq: MSFT): Down .50%
The post Live Market Updates: NVIDIA (Nasdaq: NVDA) Outperforming Magnificent 7 Stocks appeared first on 24/7 Wall St..
