CWD

U.S. Stock Market Overview

• Market Performance: U.S. stocks opened lower, with the Dow down 0.22% at 45,537.65, the Nasdaq falling 0.44% to 21,610.49, and the S&P 500 decreasing by 0.24% to 6,486.33.
• Sector Movements: Energy shares saw a slight increase of 0.3%, while information technology stocks experienced a decline of 0.8%.

Inflation and Economic Indicators

• Inflation Data: The Personal Consumption Expenditures (PCE) price index rose 2.6% year-over-year in July, aligning with Wall Street expectations. Month-over-month, it increased by 0.2%. The core PCE index, excluding food and energy, reached 2.9%, up from 2.8% in June, marking the highest level since February.
• Trade Deficit: The U.S. trade deficit in goods expanded by $18.7 billion to $103.6 billion in July, surpassing market estimates of $89.5 billion.
• Wholesale Inventories: U.S. wholesale inventories rose by 0.2% month-over-month to $908.4 billion in July, compared to a 0.1% increase in June.
• Personal Income and Spending: Personal income increased by 0.4% to $25.905 trillion, while personal spending rose by 0.5% to $20.802 trillion in July.

Notable Stock Movements

• Gainers: Movano Inc. shares surged 95% to $1.1900 after receiving a Nasdaq compliance extension. Professional Diversity Network, Inc. saw a 70% increase to $3.3301 following a partnership announcement. Ambarella, Inc. shares rose 28% to $90.76 after reporting strong quarterly results.
• Losers: CaliberCos Inc. shares dropped 33% to $2.9701 after announcing a digital asset strategy. Connexa Sports Technologies Inc. fell 29% to $2.71 due to a new agreement related to a digital asset platform. Lottery.com Inc. shares decreased by 27% to $4.3750.

Global Market Trends

• European Markets: European shares mostly declined, with the STOXX 600 down 0.3% and Spain's IBEX 35 Index falling 0.9%. The FTSE 100 in London decreased by 0.1%, while Germany's DAX 40 saw a slight increase of 0.01%.
• Asian Markets: Asian markets closed mixed, with Japan's Nikkei 225 down 0.26%, while Hong Kong's Hang Seng and China's Shanghai Composite gained 0.32% and 0.37%, respectively. India's BSE Sensex fell by 0.34%.

Commodities Update

• Oil and Gold Prices: Oil prices fell by 0.4% to $64.36, while gold increased by 0.1% to $3,478.50. Silver prices decreased by 0.1% to $39.670, whereas copper rose by 0.8% to $4.5765.

Autodesk Financial Results

• Strong Q2 Performance: Autodesk, Inc. reported better-than-expected second-quarter financial results, leading to a significant rise in its stock price.
• Revised Guidance: The company increased its full-year revenue guidance from $6.92-$7 billion to $7.03-$7.08 billion, surpassing estimates of $6.97 billion. Adjusted earnings per share (EPS) guidance was also raised from $9.50-$9.73 to $9.80-$9.98, compared to estimates of $9.66.

Stock Movements in Pre-Market Trading

• Gainers:

  • Gamehaus Holdings Inc. surged 76.1% to $1.99 after announcing a $5 million share repurchase program.
  • Movano Inc. saw a 63.2% increase to $0.9959 following a Nasdaq compliance extension.
  • SMX (Security Matters) Public Limited Company rose 57% to $2.73 after recovering from a previous dip.
  • Sound Group Inc. gained 18.4% to $14.80, following a 229% jump on Thursday and the announcement of a special cash dividend.
  • Ambarella, Inc. increased by 18% to $83.33 after reporting strong Q2 results and positive guidance for Q3.

• Losers:

  • CaliberCos Inc. fell 25.8% to $3.32 after a significant rise the previous day.
  • Offerpad Solutions Inc. dropped 24.2% to $4.72 after a substantial gain.
  • TNF Pharmaceuticals, Inc. declined 18.1% to $0.0504 following a reverse stock split announcement.
  • Marvell Technology, Inc. decreased by 14.7% to $65.87 after issuing lower-than-expected sales guidance for Q3.

Market Sentiment

• Investor Confidence: The S&P 500 index settled over 6,500, indicating improved investor sentiment, while the Fear Index remains in the 'Greed' zone, suggesting a bullish outlook among investors.

• U.S. Stock Market Performance: U.S. stocks saw gains, with the Nasdaq Composite rising over 100 points; the Dow increased by 0.11%, and the S&P 500 rose by 0.24%.

• Sector Movements: Communication services stocks jumped by 1%, while health care stocks fell by 0.6% on Thursday.

• Corporate Earnings Highlights: Dollar General reported better-than-expected second-quarter results, while Sound Group Inc. shares surged 161% after announcing a special cash dividend.

• Economic Indicators: U.S. pending home sales declined by 0.4%, initial jobless claims decreased to 229,000, and the economy expanded at an annual rate of 3.3% in Q2.