US stock futures higher
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US stocks closed mixed Tuesday, but the benchmark S&P 500 (^GSPC) was able to eke out a new record as Wall Street digested a new batch of earnings, including a tariff warning from General Motors (GM),
Wall Street's reliance on a small number of high market-value stocks to keep momentum going for the U.S. equities bull market will be tested in coming days as major technology and growth companies report earnings.
I maintain a buy rating on XLG, as rate cuts and economic stability should fuel further gains in large-cap tech stocks.
US stocks closed mixed on Monday, but the Nasdaq Composite and S&P 500 managed to notch fresh records. Wall Street began a busy week of Big Tech-highlighted earnings and eyed the
Retail investors are largely behind the stock market reaching new records, buying $50 billion in stocks in the last month alone, Barclays estimated.
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Krispy Kreme and GoPro were among the companies riding the latest meme stock rally on Wednesday, as retail traders latched on to the highly shorted names a day after piling into the shares of department store company Kohl's.
Like a far-off thunder cloud, there are some rumblings around the stock market, warning that current sunny skies and new highs could give way to a late summer market storm.
The yield on the 10-year hit a 52-week high of 4.896% on January 13, a week before Trump's second inauguration, and traded as low as 3.860% on April 4 before spiking to 4.607% on May 21, then settling at 4.431% on July 18.
Barry Bannister is one of Wall Street's biggest bears, even as stocks barrel to fresh records on a wave of bullishness for AI and stable economic growth.
The chip firm could get a boost from Elon Musk's xAI and Alphabet's Google as they race to build artificial intelligence.