Video summary
The TFN Headline News Update at 3 p.m. Eastern time reports that markets are approaching their session highs with the S&P 500 leading the gains, currently trading up five points at 76.97. The NASDAQ 100 has recovered significantly to reach its morning levels, gaining 48 points, while the Dow Jones Industrial Average lags slightly behind, down 103 points. Despite this mixed performance across major indices, the Russell 2000 is showing negative movement. A key focus for investors remains the upcoming Nvidia earnings report after the bell, which is expected to serve as a critical barometer for the entire artificial intelligence sector and influence sentiment regarding related stocks like Meta.
Inflation data released earlier in the morning has contributed to a dynamic environment characterized by lower prices but higher yields, pushing the 10-year Treasury yield up to approximately 4.65%. This combination of factors has strengthened the dollar, which is trading at 99.16, and consequently put downward pressure on gold, which has pulled back $4.50 to settle around $4,649. The heat map reveals a mixed bag across the S&P 500 industrials, though consumer staples remain in the red with notable activity from companies like Walmart and Coca-Cola. Meanwhile, specific technology and health stocks such as Google, Amazon, Nvidia, Broadcom, and Lily are experiencing volatility, with Lily down by 3.3%.
Volatility remains a persistent concern despite the market's upward momentum, as evidenced by the VIX index sitting at 15.35. While crude oil prices have stabilized around $79 after a brief dip, underlying geopolitical risks involving mines and other factors suggest that volatility will continue to be an issue going forward. The market reaction to recent news has been largely positive; for instance, Meta shares are up nearly 2% as investors view the resolution of uncertainty in its trial with a $18 billion deal as a catalyst for acceleration. Overall, the session is defined by a push higher driven by tech earnings anticipation and inflation data, even as sectors like industrials and gold face headwinds from dollar strength and yield increases.
Read the full video transcript
is TFN,
the Tiger Financial News Network.
TFN
Headline News Update.
Good afternoon, folks. Tommy O'Brien
coming to you live from TFN. 3 p.m.
Eastern time, final 60 minutes of the
trading day. And we have markets
approaching the session highs from this
morning with an S&P positive by five
points right now trading at 76.97.
NASDAQ 100. We're trading up 48 points,
up 210%, 29,325.
Right back to where we were at 10:00
a.m. You got a Dow right now off 103
points. 53,543
and the Russell negative by 1. Now we
get Nvidia earnings after the bell.
Nvidia right now down $2. You're at
21108 right now. We take a look at the
heat map. Google, Amazon, some of the
health stocks, Lily off by 3.3% right
now. Nvidia and Broadcom as well. But a
mixed bag across the S&P 500 industrials
some action. Consumer staples in the
red. Walmart cost Coca-Cola, excuse me.
We jump over to yields.
So we get some inflation data this
morning. PCE, we get a little bit of
lower price, higher yield. Right now,
the 10ear off by six ticks at 10813.
And we got a 10-year yield right now
approaching about 4.65.
We get the exact. What are we at? Come
on, computer, catch up.
Forgive me, I'm a little bit stuck.
There we go. Come on, catch up. So, we
got a quick market. We're pushing higher
right now. Dollar at 9916. A little bit
of dollar strength.
Forgive me as my computer catches up.
So, you got lower price, higher yield.
Can't pull the yield. There we go.
Yeah, 4.66.
And we jump over to gold with a little
bit of higher yield and dollar strength.
Gold pulls back 45 bucks at 46.49 right
now. We jump over the VIX. How about
that one as this market pushes higher?
1535.
And yeah, as I mentioned, Nvidia with
their numbers after the bell
and we'll see they'll be a barometer of
the entire AI. Nvidia earnings give
investors a barometer of the state of
that AI trade and meta. So they make a
deal in the middle of the trial, $18
billion, they go risk off and the market
likes that as in you take out that
uncertainty, you accelerate higher,
you're positive by nearly 2% right now
for Meta.
And yeah, talking about the straight a
little crude volatility. There's still
mines out there. It's going to be an
issue going forward, but crude prices
right now are pretty steady. 8194 down
to 79 this