• 156
  • 19
  • 收藏

S&P 500 rises slightly led by tech shares as Nvidia soars

Tiger Newspress2021-11-18

The S&P 500 and the Nasdaq indexes opened higher on Thursday as chipmaker Nvidia rallied on robust third-quarter results, while a fresh batch of positive retail earnings indicated strength in consumer spending against the backdrop of rising inflation.

The Dow Jones Industrial Average(.DJI)fell 29.36 points, or 0.08%, at the open to 35,901.69.

The S&P 500(.SPX)opened higher by 12.05 points, or 0.26%, at 4,700.72, while the Nasdaq Composite(.IXIC)gained 51.82 points, or 0.33%, to 15,973.40 at the opening bell.

Nvidia shares popped more than 8% afterbeating on the top and bottom linesof its quarterly results and issued a bullish revenue forecast for the current quarter ending in January. The chipmaker reporter a 55% gain in data center sales from the same period a year ago and its biggest market, gaming, reported a 42% sales increase.

Those gains helped lift other chip stocks trading. Advanced Micro Devices gained nearly 3%. Skyworks and Micron Technology added more than 1%. Separately, GlobalFoundries jumped more than 8% after revealing itentered a partnership with Fordto help the automaker increase its chip supply.

Retail continued its big earnings week. Shares of Macy’s and Kohl’s kicked the day off jumping 15% and 8%, respectively. Both companies smashed quarterly profit and revenue estimates, much like its peers who reported earlier in the week. Most have reported same-store sales gains from the previous year and investors are optimistic going into the holiday shopping season.

Retail stocks broadly traded higher on Thursday, and the SPDR S&P Retail ETF gained 1.5%.

Elsewhere, Deere saw its shares rise more than 2% after it came to a resolution with workers who had been on strike since Oct. 14.

Dow component Boeing also saw its shares rise another almost 2% following an upgrade from JPMorgan, which said the aerospace giant has significant upside as it clears up several issues that have dogged the company.

Going in the other direction, Cisco Systems fell 7% due toweaker revenue guidance and a revenue miss. Kraft Heinz shares also dropped more than 3% after the company announced a secondary offering of common stock.

Initial filings for unemployment insurance fell slightly to 268,000 for the week ending Nov. 13, the Labor Department reported Thursday. That was the lowest level since March 2020, and the seventh straight weekly decline. Economists polled by Dow Jones expected them to have fallen to 260,000, compared to the previous week’s adjusted 269,000 claims.

On Wednesday, the Dow Jones Industrial Average lost 211 points, dragged down by a 4.7% loss in Visa shares. The S&P 500 dipped 0.26%. The Nasdaq Composite ticked 0.33% lower, despite most mega-cap technology companies closing in the green.

The small-cap benchmark Russell 2000 was the relative underperformer on Wednesday, dropping 1.2%.

“Recent economic reports remain strong, but today’s stock market action highlights that it is already discounting another Covid cycle,” said Jim Paulsen, chief investment strategist for Leuthold Group.

“Concerns about Covid also caused the 10-year bond yield to decline for the first time in 6 days and kept downward pressure on commodity prices including another sizable drop in crude oil prices. If inflation keeps rising while another Covid surge again stalls real economic activity, we may find out how the stock market handles a pseudo-stagflationary episode,” he added.

Investors await more retail earnings on Thursday withApplied MaterialsandPalo Alto Networksreporting after the bell.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论19

  • LionPanda21
    ·2021-11-19
    Yeah
    回复
    举报
    收起
    • Goodmeng
      Yeah
      2021-11-19
      回复
      举报
  • b1uesky
    ·2021-11-19
    No wonder go up
    回复
    举报
  • Alvin1975
    ·2021-11-19
    Like
    回复
    举报
    收起
  • xuannie
    ·2021-11-19
    Nice
    回复
    举报
  • Winyss10
    ·2021-11-18
    latest
    回复
    举报
  • MHh
    ·2021-11-18
    Another crazy day!
    回复
    举报
    收起
    • MHh
      [Smile]
      2021-11-19
      回复
      举报
    • MHh
      [Smile]
      2021-11-19
      回复
      举报
    • Meowl
      cool
      2021-11-18
      回复
      举报
    查看更多 1 条评论
  • xiaojn
    ·2021-11-18
    Ok
    回复
    举报
  • Oscarlow
    ·2021-11-18
    Road to a trillion company
    回复
    举报
    收起
    • ACCY
      Yes
      2021-11-18
      回复
      举报
  • DylanYii
    ·2021-11-18
    Pls like 
    回复
    举报
    收起
    • JeremyKok
      hi. please like and comment back. thank you.
      2021-11-21
      回复
      举报
    • lawgbk
      k
      2021-11-18
      回复
      举报
    • DonOng
      done
      2021-11-18
      回复
      举报
    查看更多 1 条评论
  • HelloKitty55
    ·2021-11-18
    Ok
    回复
    举报
  • Dem0171c
    ·2021-11-18
    Latest
    回复
    举报
    收起
    • gky
      ya
      2021-11-18
      回复
      举报
  • Sydney1
    ·2021-11-18
    Noted 
    回复
    举报
    收起
    • Dem0171c
      liked
      2021-11-18
      回复
      举报
  • jack_paing
    ·2021-11-18
    Tell me your opinion about this news...
    回复
    举报
  • Miaoj
    ·2021-11-18
    Up up up
    回复
    举报
    收起
    • Tenten
      Go go go!
      2021-11-18
      回复
      举报
  • Michrich
    ·2021-11-18
    Ok
    回复
    举报
    收起
    • DylanYii
      👍
      2021-11-18
      回复
      举报
    • Wroy
      ok
      2021-11-18
      回复
      举报
  • Huiyin
    ·2021-11-18
    Ok
    回复
    举报
  • MarkOng
    ·2021-11-18
    👍
    回复
    举报
  • RichardNeo
    ·2021-11-18
    Noted
    回复
    举报
    收起
    • SMLim
      [财迷]
      2021-11-18
      回复
      举报
  • haiguan
    ·2021-11-18
    Ok
    回复
    举报
    收起
    • Han96
      Ok
      2021-11-18
      回复
      举报
    • EmmanuelQeen
      ok
      2021-11-18
      回复
      举报
    • WanEH
      wow
      2021-11-18
      回复
      举报
 
 
 
 

热议股票

 
 
 
 
 

7x24