The US Q2 current account deficit narrowed sharply to -$251.3B vs. Q1 -$439.8B. Around 10am, September services and manufacturing PMI, and existing home sales data will be released. At 12:35pm, Fed Chair Powell will give a public speech.
After market close, chip leader MU’s earnings are worth close attention. Recently, memory chips and equipment prices have surged. Related stocks have strongly outperformed the market and other tech names. The test is whether the rally can continue.
Nvidia’s $100B investment in OpenAI boosted AI infrastructure stocks sharply, pushing the market to new highs yesterday. SPY closed near the key level of $667 mentioned earlier. A quick breakout at the open could speed up the rise, with the next target around $672. The intraday downside test has moved up to $663. A break below that level would mean a pullback.
Pre-market moves are mixed, with small gains and losses. Leading sectors recently include memory chips and equipment, clean energy, nuclear power, gold and silver mining, and AI infrastructure stocks.
Boeing (BA) broke below its recent base yesterday. Encouraged by a big new order, it is +2% pre-market, but must climb quickly out of the bottom range to end the correction. Quantum computing stocks, which surged this month, pulled back yesterday after QUBT issued new shares, but are moving higher again pre-market. TSMC (TSM) raised prices for its 2nm products, +4% pre-market, hitting a new high.
More Information/Reports/Video/Analysis please contact us—info@the-currency-store.com. We offer fully customised content services tailored to you needs.
Add comment
Comments