Live Nasdaq Composite: Markets Step Back on Unilateral Tariff Threat, ORCL Soars
Live Updates Live Coverage Updates appear automatically as they are published. 'Buy the Dip' 9:50 am by Gerelyn Terzo HSBC strategist Max Kettner is advising investors to “buy the dip” in the stock market ahead of Q2 earnings season. In a note, Kettner’s team improved their view on U.S. equities from “neutral” to “overweight,” the […] The post Live Nasdaq Composite: Markets Step Back on Unilateral Tariff Threat, ORCL Soars appeared first on 24/7 Wall St..
Live Updates
'Buy the Dip'
HSBC strategist Max Kettner is advising investors to “buy the dip” in the stock market ahead of Q2 earnings season. In a note, Kettner’s team improved their view on U.S. equities from “neutral” to “overweight,” the positive catalyst for which was a fresh wave of optimism around AI and the impact from a weaker dollar.
The Nasdaq Composite is currently down 0.04%.
This article will be updated throughout the day, so check back often for more daily updates.
The winds have gone out of the sails of the markets after President Trump threatened unilateral tariffs in the latest reversal. All three of the major stock market averages are falling in unison across the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average. Most sectors of the economy are lower, but tech as a sector is seeing a modest gain.
A Boeing 787 Dreamliner aircraft suffered a horrific tragedy in which an Air India flight headed for London’s Gatwick Airport crashed with hundreds on board. While details are scant, officials are calling the accident “tragic.” Boeing (NYSE: BA) stock is spiraling by 5.2% today, pressuring the Dow Jones Industrial Average.
Most of the Magnificent 7 stocks are trading lower this morning, with the exception of a fractional gain in Microsoft (Nasdaq: MSFT). Meanwhile, cloud company Oracle (Nasdaq: ORCL) is up 11% after reporting better-than-expected quarterly earnings. Oracle’s management is eyeing “dramatically higher” revenue performance up ahead.
On the economic front, wholesale inflation came in weaker than expected, with producer prices increasing 0.1% last month compared with expectations for a 0.2% rise. The latest inflation read comes on the heels of yesterday’s cooler than expected consumer prices data, further fueling the argument for an interest rate cut when the Fed’s FOMC members convene next week.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 192.45 (-0.44%)
Nasdaq Composite: Down 7.06 (-0.06%)
S&P 500: Down 6.05 (-0.10%)
Wall Street Moves
Citi analysts have reiterated a “neutral” rating on high-flying Palantir Technologies (Nasdaq: PLTR) stock, saying they remain “upbeat” on fundamentals but worry about the stock’s lofty valuation.
Morgan Stanley remains bullish on AI leader Nvidia (Nasdaq: NVDA), reiterating the stock as an “overweight” rating and calling it a “top idea.”
Barclays has reiterated Oracle stock as an “overweight” rating on the heels of the cloud company’s strong earnings.
The post Live Nasdaq Composite: Markets Step Back on Unilateral Tariff Threat, ORCL Soars appeared first on 24/7 Wall St..
