US Stocks Show Varied Performance; Nvidia Reports Positive Earnings
U.S. Stock Market Performance: U.S. stocks showed mixed results, with the Dow Jones falling 0.2%, while NASDAQ rose slightly by 0.17%. The S&P 500 also experienced a minor decline.
Sector Movements: Communication services stocks increased by 0.5%, whereas health care stocks saw a drop of 0.8%. Notable stock movements included Nvidia Corp reporting strong earnings and revenue forecasts.
Noteworthy Stock Changes: Sound Group Inc. shares surged 76% after positive financial results, while Outlook Therapeutics, Inc. shares plummeted 51% following an FDA response on its product application.
Economic Indicators: U.S. pending home sales fell by 0.4% in July, initial jobless claims decreased to 229,000, and the economy grew at an annual rate of 3.3% in the second quarter.
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FedEx Shares Rise 5%; Check Out 20 Stocks Making Moves in Premarket Trading
FedEx Financial Results: FedEx Corporation's shares rose 4.8% in pre-market trading after reporting better-than-expected Q1 fiscal 2026 results, with projected revenue growth of 4% to 6% and plans for $1 billion in permanent cost reductions.
Pre-Market Stock Movements: AGM Group Holdings saw a significant 111.6% increase after a sale announcement, while other notable gainers included AlphaVest Acquisition Corp (+71.4%) and 22nd Century Group (+45.5%). Conversely, Reviva Pharmaceuticals experienced a sharp decline of 28.8% following a public offering announcement.
Stock Market Update: S&P 500, Nasdaq, and Dow Futures Surge After Fed Rate Cut—Attention on Broadcom, Cracker Barrel, and FedEx
Market Overview: U.S. stock futures rose on Thursday following a mixed performance on Wednesday, with major indices showing gains. The Federal Reserve cut interest rates by 25 basis points, indicating potential further easing due to a cooling labor market and employment risks.
Sector Performance: Most sectors in the S&P 500 closed positively, particularly consumer staples, financials, and materials, while information technology and industrials lagged. Individual stocks like General Mills exceeded expectations, while Manchester United's shares fell after mixed results.
Economic Indicators: U.S. housing starts dropped 8.5% in August, missing estimates, and building permits also declined. Analysts suggest that the S&P 500 could see substantial growth in the second year of the Fed's rate-cutting cycle, provided the economy avoids recession.
Future Projections: The Federal Reserve's projections indicate a shallow path for interest rate cuts through 2026, with uncertainty surrounding economic conditions. Analysts warn of potential risks, including high government deficits and geopolitical instability, which could impact market performance.
