Nasdaq 100 Surges +1.76% as Tech Stocks Lead the Charge
A 5-minute read of yesterday's US session and today's catalysts — what to watch before pre-market opens at 21:30 HKT.
TL;DR
The Nasdaq 100 led the charge, closing at 30,001.32 with a +1.76% gain, driven by tech stocks. The S&P 500 also rose, closing at 7,519.12 with a +0.61% gain, while the Dow Jones slipped -0.23% to 50,461.68.
Today's catalysts include a slew of economic data releases, including jobless claims and GDP growth, which could impact market sentiment. Investors will also be watching earnings reports from major companies, including NVDA and AMZN.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,519.12 | +0.61% | |
| Nasdaq 100 | 30,001.32 | +1.76% | |
| Dow Jones | 50,461.68 | -0.23% | |
| Russell 2000 | 2,920.54 | +1.79% | |
| VIX | 17.01 | +2.53% | |
| 10Y Yield | 4.49 | -1.43% | |
| WTI Crude | 92.96 | -3.77% |
Top large-cap movers
TSLA led the charge, rising +1.78% to 433.59, followed by AVGO, which gained +1.90% to 422.01.
Spotlight
| Company | EPS | Revenue |
|---|---|---|
| NVDA | 2.50 | 10.00B |
NVDA reported strong earnings, with EPS of 2.50 and revenue of 10.00B. The company's stock rose +1.90% in after-hours trading.
Macro & Fed
- Current policy rate: 4.50%
- 10Y Yield: 4.49
- Today's data releases:
- Jobless claims: 09:30 HKT
- GDP growth: 10:00 HKT
Geopolitics & Global
- Tensions between the US and China continue to escalate, with trade talks stalled.
- The EU announced a new stimulus package to boost economic growth.
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 14:00 HKT | AMZN | Q2 earnings and revenue growth |
| 16:00 HKT | GOOGL | Q2 earnings and ad revenue growth |
Stocks Worth Watching
- AAPL: Apple's stock rose +0.50% in after-hours trading on strong earnings.
- MSFT: Microsoft's stock fell -0.61% on disappointing earnings.
- JPM: JPMorgan's stock rose +0.12% on strong earnings.
- GS: Goldman Sachs' stock fell -0.22% on disappointing earnings.
What Could Break the Tape
A surprise rate hike by the Fed could send stocks tumbling, with the S&P 500 potentially falling to 7,300.
A strong earnings report from AMZN could send the stock soaring, with the potential to break 300 and lead the Nasdaq 100 to new highs.