SPDR Select Sector Fund - Technology (ARCA: XLK)

에 대한 최신 뉴스 SPDR Select Sector Fund - Technology (ARCA:XLK)

SPDR Select Sector Fund - Technology

Technology

Financial Services

Healthcare

Consumer Cyclical

Industrials

Real Estate

Communication Services

Other

Energy

Consumer Defensive

Utilities

Basic Materials

In seeking to track the performance of the index, the fund employs a replication strategy, which means that the fund typically invests in substantially all of the securities represented in the index in approximately the same proportions as the index. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The fund is non-diversified.

Microsoft Corp

Nvidia Corp.

Apple Inc

Broadcom Inc

Advanced Micro Devices Inc.

Salesforce Inc.

Adobe Inc

Oracle Corp.

Qualcomm Inc.

Applied Materials, Inc.

The Technology Select Sector SPDR Fund

Analyst Color

Equities

Long Ideas

News

Markets

Analyst Ratings

Tech

Trading Ideas

AAPL

AMZN

CHKP

CRWD

GOOG

GOOGL

MSFT

NVDA

PANW

PLTR

인공지능이 제공한 추진력에 힘입어 기술 부문이 상반기 증시 상승의 원동력이었다. 조정에 대한 우려가 커지고 있음에도 불구하고 금요일 한 낙관적 분석가는 이 상승 방해받지 않고 진행될 것이라고 제안했다.

인공지능 기반 랠리 이후 2024년 하반기 기술주 강세 속 최고의 주식은?

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Large Cap

Macro Economic Events

Mid Cap

Broad U.S. Equity ETFs

Commodities

Econ #s

Economics

Federal Reserve

ETFs

$BTC

ACHR

AMGN

SPDR Dow Jones Industrial Average ETF Trust

Market Vectors ETF Trust Market Vectors Gold Miners

LCID

PARA

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares Trust Barclays 20+ Year Treasury Bond Fund

TSLA

VKTX

Select Sector SPDR-Consumer Discretionary

S&amp;P 500과 나스닥 100 지수는 2020년 5월 이후 최악의 위축을 겪은 6월 서비스 부문 활동이 예상보다 크게 낮아지자 투자자들이 금리 인하에 대한 기대를 높이면서 목요일 사상 최고치를 경신했다.

연준 회의록을 앞두고 금리 인하 낙관론에 S&amp;P 500, 나스닥 100이 최고치 기록: 금, 채권 랠리

Biotech

Sector ETFs

Health Care

ADBE

ALNY

AVGO

COPX

OLED

ORCL

QRVO

iShares FTSE NAREIT Residential PLUS Capped Index Fund

SCLX

6월은 섹터 및 산업 성과의 상당한 격차에도 불구하고 SPDR S&amp;P 500 ETF Trust(NYSE:SPY)가 추적하는 S&amp;P 500이 3.2% 상승하는 등 주식 시장에서 높은 평가를 받으며 마감되었다.

6월 상위 성과 업종 ETF: 소프트웨어는 수익을 선도, 칩 메이커들은 가장 많은 자금 유치

S&amp;P 500 and Nasdaq 100 indices surged to new all-time highs on Friday, driven primarily by a rally in Magnificent Seven stocks, which collectively reached a market capitalization exceeding $16 trillion.
The Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>) increased by 1.4% on Friday, boosting its weekly gain to 7.7%, marking the strongest weekly performance <a href="https://www.google.com/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.benzinga.com/quote/MAGS&amp;ved=2ahUKEwjsreyntZCHAxU6hv0HHSFbDYUQFnoECBYQAQ&amp;usg=AOvVaw0qApwAlRjOLeb8gwVa_4Hr">since the fund&#8217;s inception.</a>
As mega-cap tech stocks attracted larger gains, blue-chip stocks held steady, while small caps fell. 
In June, the U.S. labor market showed signs of cooling despite a higher-than-expected increase in non-farm payrolls, due to previous downward revisions, a rise in the unemployment rate, and slower wage growth.
Economists have increasingly urged the Federal Reserve to initiate interest rate cuts, with September seen as the most likely starting point.
Traders quickly adjusted their expectations for rate cuts, assigning a 76% probability to a September move and now fully pricing in two rate cuts by the end of the year.
Treasury yields declined across the board, with the 2-year yield dropping by 7 basis points to 4.62%, and the 10-year yield falling by 6 basis points to 4.28%.
Gold prices advanced by 1.1%, fueling a rally in gold mining stocks, which outperformed other equity sectors on Friday. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) has surged nearly 7% over the last two sessions, marking its strongest two-day performance since early March.
In other markets, UK small-cap stocks, tracked by the iShares MSCI United Kingdom Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWUS#NYSE">EWUS</a>), rallied 1.4% following a landslide victory for the Labour Party in the legislative elections, ending 14 years of Conservative rule.
Cryptocurrency markets were volatile on Friday. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices hit an intraday low of $53,550 before recovering to $56,430.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,344.47</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,553.10</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,250.89</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,020.45</td>
<td>-0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 3:05 PM ET</figcaption></figure>
According to<a href="http://Register URL:&nbsp;http://www.benzinga.com/pro/register/?utm_source=BZprocontent070524&amp;t=be2bearmibe3na1">&nbsp;Benzinga Pro&nbsp;data</a>:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% higher to $553.55.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was flat at $392.70.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.9% higher to $495.20.</li>
<li>Sector-wise, the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)&nbsp;outperformed, up by 1.4%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, falling 1.7%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rallied 4.3%, marking the strongest daily performance since early February. </li>
<li>Chipmakers ARM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) rocketed 5.7% and 4.8%, respectively. </li>
<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) rallied 8.8% after rumors that Arkhouse Management and Brigade Capital Management increased offers to buy Macy&#8217;s remaining ownership. </li>
<li>Airline stocks declined, with budget carriers suffering the most significant losses following downgrades on Friday due to weakening fare trends. Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) dropped 6.9%, Southwest Airlines Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) fell 4.5%, and United Airlines Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NYSE">UAL</a>) decreased by 3.2%.</li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39649730/theyre-nowhere-near-being-robotaxis-bearish-tesla-analyst-says-musk-is-promoting-sm">&#8216;They&#8217;re Nowhere Near Being Robotaxis&#8217;: Bearish Tesla Analyst Says Musk Is Promoting &#8216;Smoke And Mirrors,&#8217; Stock Is Overvalued</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

EWUS

MAGS

SAVE

Magnificent 7 Stocks Propel S&P 500, Nasdaq 100 To Record Highs As Jobs Data Fuels Rate Cut Bets; Gold Miners Rally: What's Driving Markets Friday?

The technology sector, propelled by the impetus provided by artificial intelligence, was the driving force behind the<a href="https://www.benzinga.com/markets/equities/24/06/39566020/s-p-500-ends-first-half-shy-of-all-time-highs-here-are-the-leaders-and-laggards-and-5-stocks-tha"> first-half stock market rally</a>. Despite growing fears of a correction, a bullish analyst suggested on Friday that the rally will go on unhindered.
Just Getting Started: &#8220;It&#8217;s only 9 pm and the AI-driven tech bull party goes till 4 am,&#8221; said Wedbush analyst Daniel Ives in a note.
The analyst said his global fieldwork showed that the AI revolution has just begun with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>). The second, third, and fourth derivates of the revolution will start to play out over the next 12 to 18 months, he said, adding that a &#8220;tidal wave of $1 trillion of spending will come to the shores of the tech sector.&#8221;
Delving into the first-half performance of the tech stocks, Ives said they have had a very strong run, led primarily by big techs such as Nvidia, Microsoft, Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
Read Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Top Performing Artificial Intelligence Stocks</a>
Second-Half View: Ives reiterated his view that the tech stocks will rise 15% on top of their first-half gains, with ample help from an acceleration in tech fundamentals as AI use cases materially expand.
The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38979823/nvidia-q1-results-prove-ai-revolution-is-real-and-jensen-huang-led-company-is-the-b">enterprise AI revolution will be led by Nvidia</a> and Microsoft, while on the consumer side, Meta, Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google will likely be the frontrunners, he said.
The winners of the next phase of the AI revolution will be the tech vendors that can monetize their installed bases with new AI platforms, the analyst said. On the other hand, the losers would be &#8220;players that get squeezed out of sales cycles, technology-driven platforms, and future growth opportunities as they do not have the tools/tech/software engineers to compete,&#8221; he said.
Top Picks: Ives listed nine stocks from across the tech industry as his top tech picks for the remainder of the year. Here&#8217;s how these stocks have fared in the first half:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>H1&#8217;24 Performance</td>
<td>Sector/Category</td>
<td>Upside Potential&#x2A;</td>
</tr>
<tr>
<td>Microsoft</td>
<td>+19.3%</td>
<td>Big Tech with exposure to AI</td>
<td>+8.6</td>
</tr>
<tr>
<td>Apple</td>
<td>+9.7%</td>
<td>Big Tech with exposure to AI</td>
<td>(-0.7%)</td>
</tr>
<tr>
<td>Alphabet</td>
<td>+30.6%</td>
<td>Big Tech with exposure to AI</td>
<td>+7.2%</td>
</tr>
<tr>
<td>Palantir Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)</td>
<td>+47.5%</td>
<td>Data analytics company with exposure to AI</td>
<td>(-12.8%)</td>
</tr>
<tr>
<td>Palo Alto Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>)</td>
<td>+14.0%</td>
<td>Cloud security software vendor</td>
<td>+0.4%</td>
</tr>
<tr>
<td>Check Point Software Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>)</td>
<td>+8.0%</td>
<td>Cloud security software vendor</td>
<td>+0.3%</td>
</tr>
<tr>
<td>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)</td>
<td>+50%</td>
<td>Cloud security software vendor</td>
<td>+3.9%</td>
</tr>
<tr>
<td>Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>)</td>
<td>(-13.3%)</td>
<td>Cloud security software vendor</td>
<td>+17.0%</td>
</tr>
<tr>
<td>Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>)</td>
<td>(-2.2%)</td>
<td>CRM vendor with exposure to AI</td>
<td>+16.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Note: &#x2A;Based on consensus analysts&#8217; price target compiled by TipRanks</figcaption></figure>
The Invesco QQQ Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>), an exchange-traded fund that tracks the Nasdaq 100 Index &#8211; comprising the 100 biggest non-financial tech stocks, rose 0.11% to $491.56 in premarket trading, according to Benzinga Pro data. The ETF is up 20.3% for the year.
The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) edged up 0.08% to $232.35 in premarket trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/39604852/apple-microsoft-amazon-shares-soar-to-new-all-time-highs-wheres-the-momentum-coming-from">Apple, Microsoft, Amazon Shares Soar To New All-Time Highs: Where&#8217;s The Momentum Coming From?</a></li>
</ul>
Photo courtesy: Shutterstock

Tech Bull Shares Top Stock Picks For Second Half Of 2024 After AI-Fueled Rally: Do You Own These Stocks?

The S&amp;P 500 and Nasdaq 100 indices surged to new all-time highs on Thursday, as investors heightened their expectations for rate cuts following June&#8217;s sharply lower-than-expected services sector activity, which experienced its worst <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39618958/us-services-sector-activity-experiences-largest-contraction-in-over-4-years-gold-ra">contraction since May 2020. </a>
Market-implied odds of a Fed rate cut in September rose from 65% to 72%, according to CME Group&#8217;s FedWatch tool, with traders pricing in more than 50 basis points of rate cuts by year end, implying two fully priced rate reductions by the Fed. 
Risk sentiment was particularly strong ahead of the Federal Open Market Committee (FOMC) Minutes, slated to be released at 2:00 p.m. ET. 
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and the chip making industry, as tracked by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), rebounded, up 3.7% and 1.9%, respectively.
Strong gains also stemmed from gold miners, with the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) up 4.2%, eyeing one of the best-performing sessions year to date, driven by rising metal prices. 
Expectations of lower interest rates fueled gold prices up by 1.4%, silver up by 3.5%, and copper up by 2.6%. 
Treasury yields weakened sharply, with both the 10-year and 30-year yields down 7 basis points. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 1.1%, rallying the most since June 13. 
However, the crypto market faltered, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down 2.7% to $60,450.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,168.73</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,531.06</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>202.16</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,273.72</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:28 p.m. ET</figcaption></figure>
According to&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070324&amp;t=be2bearmibe3na1">Benzinga Pro&nbsp;data:</a>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% higher to $550.85.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% lower to $392.45.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.8% higher to $490.70.</li>
<li>Sector-wise, the&nbsp;Technology Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 1.3%, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, falling 1%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Weight-loss giant Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) tumbled 1.9% and 4% respectively, after a study conducted by the Massachusetts Eye and Ear showed that Ozempic and Wegovy are linked to higher risk of blinding eye conditions. Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) and Viking Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) also fell 1.9% and 2.2%, respectively.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares continued their upward momentum from Tuesday, rallying 5.5% after the electric-vehicle maker&#8217;s quarterly deliveries came in better than expected.</li>
<li>Other EV-related stocks also rallied, with Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) up 8%, Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) up 15%. </li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) surged over 7% following rumors from the Wall Street Journal that Skydance is once again interested in the deal to buy Paramount&#8217;s controlling company, National Amusements.</li>
<li>Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) fell 4.4%, marking the worst session since October 2023, amid lower-than-expected revenue last quarter. </li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39620397/june-jobs-report-preview-cooling-labor-market-trends-may-further-bolster-rate-cut-h">June Jobs Report Preview: Cooling Labor Market Trends May Further Bolster Rate Cut Hopes</a></li>
</ul>

S&P 500, Nasdaq 100 Climb To Record Highs As Data Fosters Rate Cut Optimism Ahead Of Fed Minutes; Gold, Bonds Rally: What's Driving Markets Wednesday?

U.S. equities were little moved on Tuesday as investors continued to assess the potential for interest rate cuts following the latest economic data and comments from <a href="https://www.benzinga.com/markets/bonds/24/07/39600702/fed-chair-powell-warns-of-unsustainable-us-debt-path-downplays-risks-of-possible-trump-attacks-on-c">Fed Chair Jerome Powell.</a>
Speaking at the European Central Bank (ECB) forum in Portugal, Powell welcomed recent progress on disinflation and noted that the labor market is &#8220;appropriately cooling,&#8221; reinforcing market expectations for reduced borrowing costs later this year. He anticipates inflation to be between 2% and 2.5% by this time next year but did not commit to a specific course of action.
Powell also highlighted the unsustainable trajectory of the U.S. national debt, labeling it a &#8220;top-level issue&#8221; for policymakers at Capitol Hill.
On the data front, the Job Openings and Labor Turnover Survey (JOLTS) report revealed a surge of 221,000 job vacancies, reaching 8.14 million in May and surpassing the forecast of 7.91 million.
Traders are now looking ahead to further crucial labor market data, including the private ADP employment report on Wednesday and the official June employment situation on Friday.
Indices and sectors traded within narrow ranges, with only a few standout performers. Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) made headlines, soaring over 9% as second-quarter deliveries exceeded market expectations. The EV giant, led by Elon Musk, delivered 443,956 vehicles in the second quarter, marking a 4.8% decrease from the previous year but surpassing estimates of 438,019 vehicles.
Treasury yields remained mostly unchanged, with the 10-year yield at 4.45%. Commodities showed little movement as well, with West Texas Intermediate (WTI) light crude trading flat at $83.50 and gold dipping by 0.3%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) declined by 1.6%, falling below $62,000.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,895.50</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,484.20</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>201.12</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,118.69</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:05 p.m. ET</figcaption></figure>
<h1 class="wp-block-heading">According to&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070224&amp;t=be2bearmibe3na1">Benzinga Pro&nbsp;data:</a></h1>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $546.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.1% lower to $391.26.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.5% higher to $484.63.</li>
<li>Sector-wise, the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.5%, aided by Tesla&#8217;s remarkable rally, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, falling 0.7%.</li>
</ul>

<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>R1 RCM Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCM#NASDAQ">RCM</a>) tumbled 15.2% after New Mountain Capital announced it was no longer interested in a joint acquisition of R1 with TCP/ASC and reduced its proposed takeover offer.</li>
<li>Insurance technology company Roadzen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDZN#NASDAQ">RDZN</a>) skyrocketed 75%, notching the highest one-day rally since inception, in reaction to the company&#8217;s quarterly earnings. </li>
<li>Other companies reacting to earnings were MSC Industrial Direct Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) and Radius Recycling Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) down over 8%, </li>
</ul>
Read Now: • <a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39600380/oil-prices-near-3-month-high-at-84-as-record-us-travel-demand-hurricane-season-impact-supply">Oil Prices Near 3-Month High At $84 As Record US Travel Demand, Hurricane Season Impact Supply</a>

Photo: Shutterstock

Bonds

Specialty ETFs

RDUS

RDZN

Stocks Hold Steady As Powell Reassures On Disinflation Path, Warns About Debt Risks; Tesla Rallies, Job Openings Spike: What's Driving Markets Tuesday?

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is trading lower Tuesday amid reports that the company faces antitrust charges <a target="_blank" href="https://www.benzinga.com/government/24/07/39580561/whats-going-on-with-nvidia-semiconductor-peers-monday" rel="noreferrer noopener">from French regulators</a>.
These charges follow dawn raids conducted last September, which resulted in formal objections and a charge sheet against Nvidia.
Meanwhile, on a positive note, Nvidia supplier Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) plans to significantly <a target="_blank" href="https://www.benzinga.com/news/24/07/39595609/whats-going-on-with-taiwan-semi-stock-on-tuesday" rel="noreferrer noopener">boost its capital expenditures</a> in 2025 due to high demand and progress in its 2nm technology. Industry reports indicate TSMC's capital spending will rise between $32 billion and $36 billion.
Nvidia has more reasons to be happy as <a target="_blank" href="https://www.benzinga.com/government/24/07/39592660/biden-administration-pumps-504m-to-boost-ai-chip-innovation-in-tech-hubs" rel="noreferrer noopener">the Biden administration</a> announced a $504 million funding package to support 12 regional technology hubs across the U.S.
The funds provided by the Department of Commerce aim to boost research in AI, semiconductor manufacturing, and clean energy.
Recipients include technology hubs in New York, Florida, Nevada, and South Carolina, and benefits will also be extended to parts of Georgia.
Analysts have praised Nvidia, citing robust demand for its Hopper builds. They expect continued strength as the H100 transitions to the H200.
Nvidia shares gained 188% in the last 12 months. Investors can gain exposure to the stock via Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>) and SPDR Select Sector Fund &#8211; Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).
NVDA&nbsp;Price Action: Nvidia shares traded lower by 1.84% to $122.02 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

What's Going On With Nvidia Stock On Tuesday?

Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is set to increase its capital expenditures significantly in 2025, driven <a target="_blank" href="https://www.benzinga.com/government/24/06/39546561/whats-going-on-with-taiwan-semi-stock-on-friday" rel="noreferrer noopener">by strong demand</a> and ongoing advancements in its 2nm process technology.
According to industry reports, TSMC&#8217;s capital expenditure is expected to reach between $32 billion and $36 billion, an increase of 12.5% to 14.3% from the previous year and the second highest in the company&#8217;s history.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/02063836/newplot-7.png" alt="" class="wp-image-415879" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/02063836/newplot-7.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/02063836/newplot-7-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and Applied Materials Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) are anticipated to benefit from TSMC&#8217;s increased capital expenditures, with related third-party manufacturers also seeing potential gains, UDN <a href="https://udn.com/news/story/7240/8064819" target="_blank" rel="noreferrer noopener">reports</a>. TSMC is a key supplier to Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) too.
TSMC plans to spend between $28 billion and $32 billion in 2024. Mass production of its 2nm process is expected to begin in 2025, following a similar production curve to the 3nm process. TSMC Chairman Wei Zhejia confirmed that TSMC met its three-year $100 billion investment plan last year.
TSMC&#8217;s 2nm production capacity is <a target="_blank" href="https://www.benzinga.com/government/24/06/39525722/whats-going-on-with-taiwan-semi-stock-on-thursday" rel="noreferrer noopener">expected to span</a> Taiwan, including new phases in Zhuke Baoshan Ke and Kaohsiung.
TSMC stock gained over 67% in the last 12 months. Investors can gain exposure to the semiconductor sector&nbsp;via VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and SPDR Select Sector Fund &#8211; Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>).
Price Action:&nbsp;TSM shares traded higher by 0.48%&nbsp;at&nbsp;$171.50 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via SK Hynix

Media

AMAT

ASML

What's Going On With Taiwan Semi Stock On Tuesday?

June closed on a high note for the stock market, with the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), gaining 3.2%, despite significant disparities in <a href="https://www.benzinga.com/etfs">sector and industry performances.</a>
The technology sector, as tracked by the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), led the 11 S&amp;P 500 sectors in performance last month, surging 7.7% and achieving its strongest monthly gain this year. 
In stark contrast, utilities lagged, with the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) dropping 6.3%, marking the worst month since September 2023.
<h3 class="wp-block-heading">Top Performing Industry ETFs In June</h3>
The iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>) rallied 11.3% last month, topping the rankings among industry ETFs. 
Hot on its heels was the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>), which climbed 8.4%, showcasing strong momentum in the semiconductor sector. 
Since hitting its low in October 2023, the VanEck Semiconductor ETF has rallied by an astounding 87%, and over 200% since October 2022, reflecting the spectacular growth in AI-driven stocks.
Securing the third spot in terms of monthly performance, the SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>) gained 4%. 
Within the software sector, standout performers included Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>), which surged by 24.9%, CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with a 22.1% increase, and Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), up by 20%.
Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) led chipmakers with a 21% rise. Universal Display Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NYSE">OLED</a>) followed closely with a 19.7% increase, and Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) posted an 18% gain. 
Among chipmakers, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Universal Display Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NYSE">OLED</a>) and Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) led gains, with performances of 21%, 19.7% and 18%, respectively.
In the biotech arena, Scilex Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCLX#NASDAQ">SCLX</a>) experienced a 78.8% spike, making it the top industry gainer. Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) surged by 63.7%, while Avidity Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) saw a robust 52% increase.
<h3 class="wp-block-heading">Top Performing Industry ETFs By Inflows In June</h3>
Examining fund flows, the VanEck Semiconductor ETF has emerged as a top choice for investors, attracting over $1 billion according to Tradingview data, and achieving its ninth consecutive month of inflows. Year-to-date the fund has registered $4.60 billion in net inflows.
The iShares Expanded Tech-Software Sector ETF pulled in approximately $480 million in June, breaking a six-month streak of outflows and registering its highest monthly inflows since September 2022. Yet, its year-to-date net flows are still negative, down by $1.15 billion. 
The iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>) collected $148 million in inflows last month, reflecting strong investor interest. Another industry witnessing robust inflows was represented by the Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>), which attracted about $130 million.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39577080/manufacturing-contracts-more-than-expected-in-june-putting-pressure-on-profitabilit">Manufacturing Contracts More Than Expected In June, &#8216;Putting Pressure On Profitability&#8217;: Yields Rise, Stocks Fall</a></li>
</ul>
Photo: Shutterstock

Top Performing Industry ETFs In June: Software Leads Returns, Chipmakers Attract Most Inflows

It&#8217;s a mixed start to the week on Wall Street, with <a href="https://www.benzinga.com/topic/s-p-500">major large-cap indices </a>slightly above the break-even point by midday trading in New York.
All investor eyes are on this week&#8217;s key economic events, including Fed Chair Jerome Powell&#8216;s speech on Tuesday and the labor market data release on Friday.
Large-cap indices are outperforming small caps, which are down 0.8%. The S&amp;P 500 rose 0.2%, while the tech-heavy Nasdaq 100 outperformed, up 0.4%. 
Among Monday&#8217;s best-performing sectors is technology, up 0.7%, while materials and real estate are struggling, down 1.7% and 1.2%, respectively.
On the data front, the ISM Manufacturing PMI index fell more than expected in June to 48.5%, marking the third <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39577080/manufacturing-contracts-more-than-expected-in-june-putting-pressure-on-profitabilit">consecutive month of contraction.</a>
Treasury yields rose significantly, with the 30-year yield up 8 basis points to 4.64%, pushing the iShares 20+ Year Treasury ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) down 1.9%, on track for its worst two-day performance since February.
The dollar remained flat overall, despite losing some ground against the euro, following the results of the first round of the presidential election in France. However, the greenback rallied 0.4% against the Japanese yen, extending its losses to 161 and beyond.
Among commodities, gold was flat, while crude prices rallied over 1.7%, with the West Texas Intermediate (WTI) light-crude benchmark soaring above $83 a barrel, eyeing the highest close since late April. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was broadly flat at $63,000. 
<h2 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,764.68</td>
<td>0.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,470.08</td>
<td>0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,165.14</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,021.15</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:52 p.m. ET</figcaption></figure>
According to&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent070124&amp;t=be2bearmibe3na1">Benzinga Pro&nbsp;data</a>:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $545.02.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% higher to $391.70.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.4% higher to $481.05.</li>
<li>Sector-wise, the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 0.6%, while the&nbsp;Real Estate Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, falling 1.3%.</li>
</ul>
<h2 class="wp-block-heading">Monday&#8217;s Stock Movers</h2>
<ul>
<li>Tesla notably surged over 6%, on track for its strongest session in over a month, following an improved outlook for EV sales in China.</li>
<li>Chinese EV-maker XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) rallied 6%, and NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) rocketed 7%.</li>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) rose 3.5% after Goldman Sachs raised its price target from $11 to $14.</li>
<li>Cruise-line stocks tumbled, with Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down over 6.5%, and Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) down 5.8%, likely impacted by higher oil prices. </li>
<li>Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) plummeted over 9%, eyeing its worst day since March.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) rose 5%, marking its fourth straight session of gains.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39579731/nvidia-apple-microsoft-race-toward-4t-market-cap-analyst-expects-ai-driven-tech-ral">Nvidia, Apple, Microsoft Race Toward $4T Market Cap: Analyst Expects AI-Driven Tech Rally To Deliver 15% Returns Over Next 6 Months</a></li>
</ul>
Photo: Shutterstock

NCLH

RIVN

SNOW

VSCO

XLRE

XPEV

Stocks Inch Up, Bonds Dip; Tesla And EVs Rally; Oil Tops $83: What's Driving Markets Monday?

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reportedly informed over a dozen Texas state agencies and public universities that Russian state-sponsored hackers accessed their emails through a breach disclosed in January.
The hackers, linked to Russian intelligence services, infiltrated Microsoft&#8217;s systems and stole emails from some company executives, reported <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-28/microsoft-tells-texas-agencies-they-were-exposed-in-russian-hack?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
The affected Texas entities include the Texas Department of Transportation, Texas Workforce Commission, Texas Department of Motor Vehicles, Texas General Land Office, and Texas State Securities Board, the report mentioned.
The attack, attributed to a group known as Midnight Blizzard, has led to ongoing investigations by the state and Microsoft.
Steve Pier, an official with the Texas cybersecurity agency, acknowledged the breach, stating that so far, only routine administrative emails have been exposed, per the report.
Pier emphasized that the state itself was not breached, but Microsoft was, involving some state emails. The Texas Department of Information Resources is assessing the scope of the exposure.
Read Also: <a href="https://www.benzinga.com/news/24/06/39550891/microsofts-13b-investment-in-openai-under-eu-scrutiny" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s $13B Investment In OpenAI Under EU Scrutiny</a>
Microsoft has been notifying affected customers and offering support to mitigate the breach&#8217;s impact. Microsoft told the General Land Office that hackers accessed 11 emails, primarily related to technical support, with no sensitive information compromised.
The breach, attributed to Midnight Blizzard, also known as APT 29 or Cozy Bear, has raised concerns about potential access to sensitive information.
Microsoft stock has gained more than 32% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and&nbsp;IShares U.S. Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>).
Price Action: MSFT shares are trading higher by 0.40% at $448.73 in premarket at last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: B_A from Pixabay
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39502578/openais-china-exit-sets-stage-for-local-ai-surge-with-baidu-alibaba-as-potential-gainers" target="_blank" rel="noreferrer noopener">OpenAI&#8217;s China Exit Sets Stage For Local AI Surge With Baidu, Alibaba As Potential Gainers</a></li>
</ul>

General

iShares Dow Jones US Technology Sector Index Fund

Microsoft Hack Exposes Texas Agencies To Russian State-Sponsored Attack: Report

Over the past five days, the S&amp;P 500 index dipped by 0.17%. The technology sector, represented by the SPDR Select Sector Fund &#8211; Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), <a href="https://www.benzinga.com/quote/XLE/news">declined by 2.23%</a>.
In stark contrast, the energy sector — tracked by the SPDR Select Sector Fund &#8211; Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) — surged by 2.20%.
This divergence highlights the energy sector as a bright spot worth watching. Here are five energy stocks that have stood out with their recent performance:
<ol>
<li>Baker Hughes Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) Baker Hughes soared by 7.25%, reflecting strong momentum and solid positioning within the energy market. The company's focus on advanced technology and services for oil and gas exploration makes it a vital player in the industry.</li>
<li>Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) Exxon Mobil climbed 4.60%, demonstrating its resilience and dominance as a key player in the energy sector. As one of the largest publicly traded energy providers, Exxon Mobil&#8217;s extensive operations span the globe, ensuring its pivotal role in meeting global energy demands.</li>
<li>Diamondback Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) Diamondback Energy rose by 4.28%, showcasing its potential for continued growth amidst favorable market conditions. This independent oil and natural gas company focuses on the acquisition, development, and exploration of unconventional onshore oil and natural gas reserves, primarily in the Permian Basin.</li>
<li>Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) Marathon Oil increased by 4.28%, highlighting investor confidence and its strategic importance in the energy landscape. With a strong portfolio of assets in the United States and internationally, Marathon Oil&#8217;s efficient operations and strategic investments drive its competitive edge.</li>
<li>EOG Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) EOG Resources added 4.25%, indicating robust performance and strong investor interest in its growth prospects. Known for its disciplined capital allocation and focus on high-return projects, EOG Resources has established itself as a leader in crude oil and natural gas exploration and production.</li>
</ol>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/06/39496437/exxon-ex-execs-new-firm-to-partner-on-guyanas-next-gas-project-report">Exxon Ex-Exec&#8217;s New Firm To Partner On Guyana&#8217;s Next Gas Project: Report</a>
As the tech sector undergoes corrections, the energy sector's rise offers a compelling alternative. Keeping an eye on these energy stocks could provide strategic opportunities for savvy investors looking to capitalize on the current market dynamics.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/partner/commodities/24/06/39522399/1-8-trillion-investment-in-clean-energy-in-2023-highlights-importance-of-critical-materials">$1.8 Trillion Investment In Clean Energy In 2023 Highlights Importance Of Critical Materials</a></li>
</ul>

FANG

While The Tech Sector Corrects, Energy Quietly Rises:  5 Stocks For Your Watch List

Semiconductor giant Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) briefly passed Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) to become the most valuable company in the <a href="https://www.benzinga.com/news/24/06/39386946/microsoft-apple-step-aside-nvidia-is-now-the-most-valuable-public-company-in-the-world">world last week.</a>
While the move was short-lived, a drop below the $3 trillion market capitalization also proved to be short-lived for the chip stock.
What Happened: Nvidia hit a market capitalization of $3.33 trillion on June 18 to pass Microsoft and Apple. The move comes around a year after Nvidia first hit a market capitalization<a href="https://www.benzinga.com/news/23/05/32630114/nvidia-becomes-ninth-company-to-hit-1-trillion-market-cap-who-could-be-next-to-join-elusive-club"> of $1 trillion.</a>
Two days later, after the market was closed on June 19 for Juneteenth, Nvidia hit a new all-time high of $140.76.
Shares began to fall after the all-time high was hit with closing prices of $130.78, $126.57 and $118.11 on June 20, June 21 and June 22, respectively.
The <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">chart from Benzinga Pro</a> shows the downward trend for Nvidia in recent days, coming as shares had steadily been climbing during the month of June.
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="998" height="477" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133931/Screenshot-6.png" alt="" class="wp-image-407062" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133931/Screenshot-6.png 998w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133931/Screenshot-6-300x143.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133931/Screenshot-6-768x367.png 768w" sizes="(max-width: 998px) 100vw, 998px" /></a></figure>
Benzinga recently asked readers if they thought the move below a market capitalization of $3 trillion would be a momentary move or last for some time.
"Do you think NVDA will reclaim $3 trillion market cap in 1 month, 3 months or next year?" Benzinga asked.
The results were:
<ul>
<li>1 Month: 37%</li>
<li>3 Months: 36%</li>
<li>Next Year: 27%</li>
</ul>
The top response ended up being correct with Nvidia reclaiming the $3 trillion level in only a couple of days after losing the key milestone.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38993253/nvidia-marching-toward-a-three-trillion-market-cap-11-analysts-size-up-q1-results-a">NVIDIA &#8216;Marching Toward A Three-Trillion Market Cap&#8217;: 11 Analysts Size Up Q1 Results As AI Leader &#8216;Shows No Sign Of Slowing Down&#8217;</a>
Why It's Important: Nvidia stock has soared over the last year, gaining 207%. Nvidia stock is up 152% year-to-date in 2024.
A look at the chart below <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">from Benzinga Pro</a> shows the steady one-year rise and that the short term drop after hitting all-time highs is small when compared to the one-year or year-to-date chart.
<figure class="wp-block-image size-full"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="987" height="516" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133950/Screenshot-4.png" alt="" class="wp-image-407063" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133950/Screenshot-4.png 987w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133950/Screenshot-4-300x157.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/26133950/Screenshot-4-768x402.png 768w" sizes="(max-width: 987px) 100vw, 987px" /></a></figure>
The recent earnings report and stock split from Nvidia may signal the end of recent catalysts, potentially shifting investor focus away from the stock as they seek undervalued opportunities for the second half of 2024.
Nvidia recently<a href="https://www.benzinga.com/news/24/06/39368302/state-street-technology-etf-to-put-nvidia-before-apple-in-revamp"> became the second-largest holding</a> in the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) after a rebalancing took the stock to a 20.7% weighting. Microsoft ranks first at 22.4% and Apple ranks third at 4.4%.
The rebalancing came with Nvidia shares ahead of Apple and will see the chip stock remain a heavier weighting until the next rebalancing, showing the impact the short-term move of becoming the most valuable company in the world could have.
Nvidia could have a future catalyst of being added to the Dow Jones Industrial Average, as <a href="https://www.benzinga.com/top-stories/24/05/39011237/exclusive-nvidia-dow-jones-inclusion-a-matter-of-when-will-it-replace-intel">predicted by several market experts. </a>The addition of Nvidia to the well-known stock index would see ETFs that track the index needing to accumulate shares, like the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>).
With a gain of over 200% over the last year, investors may turn elsewhere, but Nvidia remains one of the best ways to play the growth of artificial intelligence, according to analysts and experts.
NVDA Price Action: Nvidia shares trade at $123.65 at the time of writing, with a market capitalization of $3.037 trillion, ranking third behind Microsoft ($3.36 trillion) and Apple ($3.28 trillion). 
The study was conducted by Benzinga in June 2024 and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 126 adults.
Read Next:
<ul>
<li> <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38979823/nvidia-q1-results-prove-ai-revolution-is-real-and-jensen-huang-led-company-is-the-b">Nvidia Q1 Results Prove AI Revolution Is &#8216;Real&#8217; And Jensen Huang-Led Company Is The &#8216;Beneficiary,&#8217; Says Analyst</a></li>
</ul>
Photo: Shutterstock

Exclusives

Nvidia Reclaims $3 Trillion: 37% Of Benzinga Readers Nailed Prediction For Under A Month

Over the past six months, the tech sector has been trailing behind <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38049934/s-p-500s-q1-standouts-energy-communication-sectors-in-the-lead-10-top-performing-stocks">communications services</a>.
What Happened: The SPDR Select Sector Fund &#8211; Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), which tracks the tech sector, posted a respectable <a href="https://www.sectorspdrs.com/sectortracker">+17.94%</a> gain (as of June 25). 
But it wasn't enough to outpace the +18.37% surge in the Communication Services Select Sector SPDR Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), which follows communications services.
The tech sector witnessed astronomical gains from two companies in particular:
<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) rocketed +191.01% to $289.72; it only holds a 0.43% weight in the XLK ETF.</li>
<li>Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) wasn't far behind, soaring +158.22%. With a 20.73% index weight, Nvidia's +158.22% climb to $48.83 is monumental yet insufficient to lift the entire sector. </li>
</ul>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/06/39499832/nvidia-surges-yet-again-in-premarket-jim-cramer-sees-microns-hand-in-ai-stalwarts-stock-rally">Nvidia Surges Yet Again In Premarket: Jim Cramer Sees Micron&#8217;s Hand In AI Stalwart&#8217;s Stock Rally</a>
Other notable tech performers include:
<ul>
<li>Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), which surged +63.16% to $86.49.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), which rose +51.30% to $255.63.</li>
<li>First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), which increased +50.68% to $170.39.</li>
</ul>
These gains were impressive but couldn&#8217;t match the communication sector&#8217;s momentum.
While tech had its stars, communication services had a broader rally. Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) drove the XLC ETF to outperform.
<ul>
<li>META: Leading the charge with a +44.49% rise to $353.39, Meta&#8217;s dominance (22.74% index weight) is clear.</li>
<li>NFLX: Up +38.14% to $486.76, Netflix&#8217;s strong showing was a significant boost.</li>
<li>GOOGL and GOOG: Both Alphabet stocks climbed around +30%, closing at $141.49 and $142.72, respectively.</li>
</ul>
Why It Matters: The tech sector's near-miss in outperforming communications services highlights a fascinating dynamic: while individual tech stocks can skyrocket, broader sector performance can still lag.
Investors should note that even with tech titans like Nvidia and Super Micro Computer making waves, sector-wide trends and diversified gains in other sectors can shift the balance.
As tech titans continue to battle, the communications services sector's broader strength underscores the importance of a diversified portfolio. Watching these sectors unfold will be key for strategizing the next move in an ever-evolving market landscape.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39508567/active-fund-managers-bet-these-6-stocks-will-trade-near-all-time-highs">Active Fund Managers Bet These 6 Stocks Will Trade Near All-Time Highs</a>

FSLR

NFLX

SMCI

Tech Sector Lags Communication Services Despite Super Micro, Nvidia Surge

Wall Street experienced a mixed session on Wednesday, as investors adopted a cautious stance following Tuesday&#8217;s gains while awaiting key economic data releases later this week, including the Fed&#8217;s preferred inflation <a href="https://www.benzinga.com/topic/inflation">report due on Friday.</a>
At noon in New York, major U.S. averages traded flat, showing a lack of direction. Notably, 10 out of 11 sectors in the S&amp;P 500 were in the red, with consumer discretionary being the only sector to post gains. Small caps fell by 0.3%, while blue chips edged up by 0.1%.
The semiconductor industry failed to continue its rebound, as the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) dropped 1%, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down 2%.
Treasury yields rose, particularly at the long end of the curve, with both 10-year and 30-year yields increasing by 5-6 basis points, as traders slightly trimmed bets on a September rate cut. 
The dollar gained further traction against a basket of major currencies, with the U.S. dollar index (DXY) eyeing its highest close since April 30.
Notably, the dollar-yen pair rose past 160, marking the weakest level for the Japanese currency since December 1987, as traders continued to test<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39506069/yen-plummets-to-160-against-dollar-lowest-since-december-1986-is-bank-of-japan-inte"> Bank of Japan&#8217;s policies.</a>
Commodities were softer overall, with gold retracing 0.9% amid higher yields and a stronger greenback, natural gas dropping 2.7%, while oil prices edged up by only 0.2%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 1% lower at $61,150, failing to sustain Tuesday&#8217;s 2.5% rise.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,157.26</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,469.79</td>
<td>0.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,702.27</td>
<td>0.0%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,019.85</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:10 p.m. ET</figcaption></figure>
<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent062624&amp;t=be2bearmibe3na1">According to Benzinga Pro data:</a>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was flat at $544.86.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.1% higher to $391.47.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.1% higher to $479.66.</li>
<li>Sector-wise, the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;outperformed, up by 1.4%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, falling 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 3.8% eyeing the highest close since March 1. Stifel analyst Stephen Gengaro initiated coverage on Tesla late Tuesday with a Buy rating, setting <a href="https://www.benzinga.com/news/24/06/39505959/why-tesla-stock-is-trading-higher-wednesday-very-well-positioned-to-deliver-robust-multi-year-growth#:~:text=%E2%80%9CWe%20believe%20TSLA%20is%20very,sales%20in%20the%20near%20term.">a price target of $265.</a></li>
<li>Amazon.com Inc. also rallied 3.8% to $220, reaching the $2 trillion market valuation mark. Bank of America raised price target on the retail giant from $210 to $220.</li>
<li>Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) soared 20% after German automaker Volkswagen AG announced a $5 billion investment on a joint venture. </li>
<li>Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rallied over 3% after several analysts raised their price target on the cruise line. </li>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) skyrocketed over 14% on its strongest session in two years, reacting to positive quarterly results.</li>
<li>Other companies reacting to earnings were Progress Software Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRGS#NASDAQ">PRGS</a>), up over 8%, Paychex Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>), down 5.6% and General Mills Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), down 4.6%. </li>
<li>Large-cap companies slated to report earnings after the close include Micron Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>) and Levi Strauss &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>). </li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39502910/elon-musk-could-sell-at-least-100-000-new-lower-cost-models-next-year-tesla-has-ove">Elon Musk Could Sell At Least 100,000 New Lower-Cost Models Next Year: &#8216;Tesla Has Over 50% Share Of The US EV Market&#8217;</a>
Image created using artificial intelligence via Midjourney.

Earnings

Macro Notification

Market Summary

Small Cap

LEVI

PAYX

PRGS

Wall Street Wavers, Nvidia Resumes Losses, Tesla Eyes 4-Month High Close, Amazon Hits $2 Trillion Value: What's Driving Markets Wednesday?

Tech stocks are poised to break a three-day losing streak on Tuesday, driven by a robust rally in chipmakers, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rising over 4% and reclaiming <a href="https://www.benzinga.com/government/24/06/39479690/whats-going-on-with-nvidia-stock-on-tuesday">its $3-trillion valuation.</a>
The VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) rose 1.8% after dropping over 7% in the last three sessions, indicating a resumption in risk sentiment toward artificial intelligence-related stocks.
The tech-heavy Nasdaq 100 advanced nearly 1%, outperforming other major indices. 
Sentiment remains lackluster in non-tech sectors. The S&amp;P 500 edged higher by only 0.1%, while the Dow Jones Industrial Average and the Russell 2000 fell 0.9% and 0.6%, respectively.
Treasury yields saw slight increases following hawkish comments <a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39479480/feds-bowman-shocks-traders-i-remain-willing-to-raise-interest-rates-if-progress-o">from the Fed&#8217;s </a><a href="https://www.benzinga.com/economics/macro-economic-events/24/06/39479480/feds-bowman-shocks-traders-i-remain-willing-to-raise-interest-rates-if-progress-o">Michelle Bowman</a>, who did not rule out further rate hikes if inflation improvements stall. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) dipped 0.2%, while a trade-weighted measure of the U.S. dollar gained 0.2%.
Commodities mostly declined, with gold and crude oil down 0.5% and 1%, respectively. Copper fell 1%, and silver dropped 2.2%.
Cryptocurrencies were the brightest spot in the market, rebounding after several days of losses. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 2.3%, aiming for its strongest day in three weeks. The more speculative Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged nearly 7%, on track for its best performance in over a month.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,653.25</td>
<td>0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,457.48</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>199.96</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,050.92</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.1% higher to $543.11.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 1% lower to $390.11.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.8% higher to $477.71.</li>
<li>Sector-wise, the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 1.4%, while the&nbsp;Real Estate Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, falling 1.7%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) led gains within the S&amp;P 500, jumping over 8% on better-than-expected earnings and marking its fifth consecutive positive session. This boost lifted peers Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) by 3.6% and 5.8%, respectively.</li>
<li>Online travel agencies also saw gains, with Expedia Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Airbnb Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>) and Booking Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NYSE">BKNG</a>) rising 1.8%, 1.6% and 0.6%, respectively.</li>
<li>Crypto-linked stocks rallied in reactions to the Bitcoin rebound. Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 3.6% and 4.3% respectively. </li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) soared 5% after Guggenheim raised its price target on the chipmaker from $110 to $169.</li>
<li>TD Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) tumbled nearly 9% after missing both earnings and revenue estimates last quarter. </li>
<li>SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) plummeted over 20% after some analysts negatively reacted after&nbsp;the company's announcement of a private offering of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39485177/solaredge-stock-falls-as-analysts-react-to-300-million-private-offering">$300 million&nbsp;in convertible notes.</a></li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39467825/us-election-and-tariff-prospects-set-to-threaten-internationally-exposed-stocks-gol">US Election And Tariff Prospects Set To Threaten Internationally-Exposed Stocks, Goldman Sachs Warns</a>
Photo via Shutterstock.

Movers

$DOGE

ABNB

BKNG

COIN

EXPE

MARA

SEDG

Chipmakers, Cruise Lines, Crypto Rally, Nvidia Reclaims $3 Trillion; Blue Chips, Small Caps Dip: What's Driving Markets Tuesday?

On Tuesday, Brussels accused Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) of engaging in <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38787304/microsoft-faces-heightened-eu-scrutiny-over-teams-software-report" rel="noreferrer noopener">anti-competitive behavior</a> by bundling its Teams app with its Office suite.
The EU&#8217;s charge sheet alleges that this bundling gives Teams an undue advantage, harming competitors such as Atlassian Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) Slack and Zoom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>), Reuters reports.
On Tuesday, the European Union issued a formal charge sheet to Microsoft, outlining concerns that integrating Teams with Office unfairly disadvantages other video conferencing apps.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39428719/whats-going-on-with-nvidia-stock-friday" rel="noreferrer noopener">Nvidia CEO Predicts $1 Trillion Overhaul for AI Data Centers</a>
Margrethe Vestager, the EU&#8217;s executive vice president for competition policy, stated that if Microsoft&#8217;s conduct is confirmed, it would be illegal under EU competition rules.
In April, Microsoft attempted to <a target="_blank" href="https://www.benzinga.com/government/24/04/38017994/microsoft-decouples-teams-from-office-globally-in-response-to-antitrust-concerns-report" rel="noreferrer noopener">address regulatory concerns</a> by proposing to unbundle Teams from Office products beyond Europe.
Microsoft aims to settle the case to avoid formal charges and a potential fine of up to 10% of its annual global revenues.
Meanwhile, the company is also <a target="_blank" href="https://www.benzinga.com/government/24/04/38299939/eu-clears-microsofts-13b-openai-investment-from-formal-probe-a-relief-for-tech-giants" rel="noreferrer noopener">facing heightened scrutiny</a> over its $13 billion partnership with OpenAI, with Brussels considering a full probe.
The European Commission is focusing on Microsoft and investigating other major tech companies.
Over the last decade, Microsoft doled out $1.71 billion (1.6 billion euros) in EU antitrust fines.
Microsoft stock gained over 36% in the last 12 months. Investors can gain exposure to the stock via SPDR Select Sector Fund &#8211; Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and iShares Global Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXN#NYSE">IXN</a>).
Price Action: MSFT shares are trading higher by 0.08% at $447.63 at&nbsp;the last check on Tuesday.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39318448/microsoft-is-betting-big-on-ai-outpacing-rivals-with-new-strategy" rel="noreferrer noopener">Microsoft Is Betting Big on AI, Outpacing Rivals with New Strategy</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Government

Regulations

Eurozone

Legal

iShares Trust S&P Global Information Technology Sector Index Fund

TEAM

EU Charges Microsoft with Anti-Competitive Practices Over Teams Bundling

Federal Reserve Governor Michelle Bowman stated on Tuesday that it is premature to lower the policy rate, and indicated her readiness to support further rate <a href="https://www.benzinga.com/topic/inflation">hikes if inflation worsens.</a>
While giving a speech in London, Bowman noted that &#8220;we have seen only modest further progress on inflation&#8221; in 2024 and warned that increased immigration and continued labor market tightness could sustain high core services inflation.
Bowman highlighted that the 12-month measures of total and core Personal Consumption Expenditure (PCE) inflation have been stable or slightly declined since December, standing at 2.7 percent and 2.8 percent, respectively, in April. 
The consumer price index (CPI) report for May indicated a decrease in 12-month core CPI inflation to 3.4 percent from 3.6 percent in April. 
However, average core CPI inflation for the year through May is 3.8 percent, higher than the second half of last year&#8217;s average, suggesting elevated inflation may persist. With tight labor markets, wage growth remains high at around 4%, surpassing the level consistent with the Fed&#8217;s 2% inflation goal given trend productivity growth.
&#8220;Looking ahead, I will be closely watching the incoming data,&#8221; Bowman noted, underscoring the Fed&#8217;s data-dependent stance. She expects inflation to eventually return to the 2% target, contingent on maintaining the federal funds rate at its current range of 5.25-5.50% &#8220;for some time.&#8221;
&#8220;We are still not yet at the point where it is appropriate to lower the policy rate,&#8221; she noted, adding that she &#8220;will remain cautious in the approach to future changes in policy stance.&#8221;
Bowman clarified that if data indicate inflation is moving sustainably towards the 2% goal, it will become appropriate to gradually lower the federal funds rate to avoid overly restrictive monetary policy. Conversely, she maintained a hawkish stance, stating, &#8220;I remain willing to raise the target range for the federal funds rate at a future meeting should progress on inflation stall or even reverse.&#8221;
<h2 class="wp-block-heading">Market Reactions</h2>
Following Bowman&#8217;s remarks, the U.S. Dollar Index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), saw a slight increase against major pairs between 7:00 and 8:00 a.m. ET.
The euro-dollar exchange rate dropped to about 1.07, partially reversing Monday&#8217;s gains. Treasury yields remained broadly flat at the short end of the curve but fell slightly in the longer-dated part. U.S. equity futures were broadly positive in premarket trading amid a tech rebound.
Contracts on the S&amp;P 500 rose 0.3%, while those on the Nasdaq increased by over 0.8%. The tech sector, as tracked by The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), and the semiconductor industry, as tracked by the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>), were up 0.7% and 1.1%,
Read now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39467825/us-election-and-tariff-prospects-set-to-threaten-internationally-exposed-stocks-gol">US Election</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39467825/us-election-and-tariff-prospects-set-to-threaten-internationally-exposed-stocks-gol"> And Tariff Prospects Set To Threaten Internationally-Exposed Stocks, Goldman Sachs Warns</a></li>
</ul>
Image created using artificial intelligence via Midjourney and a picture from Wikimedia.

PowerShares DB US Dollar Index Bullish Fund

Fed's Bowman Shocks Traders: 'I Remain Willing To Raise' Interest Rates If Progress On Inflation Stalls

Wall Street faces a continuation of last week&#8217;s trend during Monday&#8217;s morning trading, with semiconductor stocks selling off heavily and dragging down the tech sector, while the broader market remains largely unaffected.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell over 4%, entering correction territory after dropping more than 14% from last week&#8217;s all-time highs. 
SEC filings <a href="https://www.benzinga.com/quote/NVDA/insider-trades">on insider activity</a> reveal that Nvidia&#8217;s CEO Jen Huang sold more than $100 million worth of shares between June 13 and June 21, 2024, marking his first sale since December 2021.
The VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>) fell over 2%, extending last week&#8217;s declines. 
Alongside Nvidia, Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and Microchip Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) were notable laggards, dropping 9.6% and 8.3%, respectively.
While the Nasdaq 100 eyes its third consecutive negative session, other major indices posted gains: the S&amp;P 500 rose 0.3%, the Russell 2000 gained 0.8%, and the Dow Jones Industrial Average rallied 0.9%, potentially marking its strongest session since late May.
Treasury yields remained steady, the U.S. dollar fell 0.3%, gold prices increased 0.4% and energy-related commodities saw gains, with crude and natural gas up approximately 1% and 2%, respectively.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 4% to $60,400, heading for its seventh negative session in the last eight, as the broader cryptocurrency market&#8217;s momentum remains fragile.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,496.67</td>
<td>0.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,032.89</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,482.39</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,629.54</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:39 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $545.59.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.9% higher to $394.65.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.6% lower to $477.21.</li>
<li>Sector-wise, the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)&nbsp;outperformed, up by 1.5%, while the&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, falling 1.6%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Energy giants ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) rallied nearly 3% in reaction to energy commodity gains. </li>
<li>Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) fell over 3%, extending last week&#8217;s declines initiated by reports that artificial intelligence laptops powered by its Snapdragon processor had trouble running certain applications.</li>
<li>Crypto-linked stocks such as Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), CleanSpark Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), and Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) fell 7%, 6% and 4%, respectively. Bitcoin-tied Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) tumbled 7.8%. </li>
<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) plummeted over 11%, after it received a downgrade from Buy to Neutral by Citigroup. </li>
<li>Alnylam Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) surged over 30% after its investigational therapy vutrisiran for treating ATTR amyloidosis with cardiomyopathy met both its primary and secondary endpoints in a late-stage study.</li>
</ul>
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39461418/us-bank-stress-tests-this-week-analyst-expects-improvement-8-stocks-3-etfs-to-watch">US Bank Stress Tests This Week, Analyst Expects Improvement: 8 Stocks, 3 ETFs To Watch</a>
Photo: Shutterstock

CLSK

MCHP

MRVL

QCOM

Semiconductor, Nvidia Woes Deepen; Nasdaq 100 Slips, Dow Rallies; Bitcoin Sinks To $60,400: What's Driving Markets Monday?

A leading market strategist thinks the markets could pause ahead of several key market index events and start of the second half of the year, with stock indexes trading <a href="https://www.benzinga.com/markets/equities/24/06/39418966/s-p-500-nasdaq-100-dip-from-record-highs-as-investors-take-chipmaker-profits-energy-sector-rebou">at all-time highs.</a>
What Happened: Technology giant NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recently passed Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to briefly become the <a href="https://www.benzinga.com/news/24/06/39386946/microsoft-apple-step-aside-nvidia-is-now-the-most-valuable-public-company-in-the-world">most valuable company in the world.</a>
The 200% gain for Nvidia shares in the last year has helped major stock indexes, but could also lead to changes from investors in the second half of 2024.
"I think we're a little out over our skis," Freedom Capital Markets Chief Global Strategist Jay Woods <a href="https://www.cnbc.com/video/2024/06/20/the-market-is-due-for-a-pause-says-freedom-capitals-jay-woods.html?__source=sharebar%7Ctwitter&amp;par=sharebar">said </a>in a CNBC interview.
Woods cited <a href="https://www.benzinga.com/news/24/06/39368302/state-street-technology-etf-to-put-nvidia-before-apple-in-revamp">the major rebalancing</a> of the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) that will see Nvidia as a larger holding. Woods also mentioned it was changing at the top for market capitalization dominance among the three companies.
"That's changing how people are restricting their portfolios."
<a href="https://x.com/JayWoods3">Woods </a>said technical show stocks and indexes above major moving averages led to "a lot of euphoria in the market."
"After awhile, you're gonna pause."
Woods said the rebalancing of XLK and reconstitution of the Russell 2000 are key events coming around the second half of the year. Investors could be looking to cut back on their exposure to Nvidia after the sharp run-up in the first half of 2024, Woods said.
"A pause given the great run we've had is just a normal, routine thing."
Woods said, "now's the time if you have profits to book them."
Related Link: <a href="EXCLUSIVE: Nvidia Dow Jones Inclusion 'A Matter Of When' — Will It Replace Int">EXCLU</a><a href="https://www.benzinga.com/top-stories/24/05/39011237/exclusive-nvidia-dow-jones-inclusion-a-matter-of-when-will-it-replace-intel">SIVE: Nvidia Dow Jones Inclusion &#8216;A Matter Of When&#8217; — Will It Replace Intel?</a>
 What's Next: While Woods sees a pause happening in the short term, he remains bullish on the market going forward.
"I still think this is early, AI leading the way," Woods said.
With a potential pullback in technology stocks and leaders like Nvidia, Woods is highlighting some other areas that could spell opportunity.
"I like the financials here."
Woods said July 12 is a key date to watch with JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) reporting quarterly financials and kicking off the sector.
Investors looking for exposure to the financials sector have many ETFs to choose from including the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>).
Woods also likes homebuilder stocks with mortgage rates going under 7%. The SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) is a leading homebuilder ETF option for investors.
While the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has hit record highs, the Russell 2000 hasn't had the same returns, up less than 1% on the year.
Woods said the Russell 2000 could play catch up to the other indexes in the second half of 2024.
"When it runs, it runs quickly."
The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) tracks the Russell 2000 Index.
Woods said he's not predicting more than one cut the rest of 2024 and investors will likely try to position their portfolios based on the items above.
"People are going to look for value as we start the second half of the year."
Read Next: <a href="https://www.benzinga.com/markets/penny-stocks/24/06/39437829/nvidia-shorts-are-down-big-ai-chipmaker-is-most-shorted-stock-hedge-to-the-overall-market-an">Nvidia Shorts &#8216;Are Down Big&#8217;: AI Chipmaker Is Most Shorted Stock, &#8216;Hedge To The Overall Market And The Tech Sector&#8217;</a>
Photo: Shutterstock

Market Could Take Normal, Routine Pause After Record Highs, Strategist Says: 'Now's The Time If You Have Profits To Book Them'

Wall Street is experiencing a subdued and low volatility trading day Friday, despite the session coinciding with the &#8220;triple witching&#8221; day, with over $5.1 trillion of notional options exposure expiring, surpassing the previous record <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39435525/5-5-trillion-in-options-are-set-to-expire-on-triple-witching-friday-why-nvidia-coul">set in December 2023.</a>
Chipmakers continue to struggle in the aftermath of Thursday&#8217;s sell-off, suggesting that while the wave of profit-taking is easing, there is little sign of new buyers stepping in at these levels.
Nvidia Corp. is down 1.6%, poised to break an eight-week winning streak. The sector benchmark, the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), is witnessing its worst two-day performance since May 1.
The major indices and sectors remained flat, while biotech stocks showed the strongest performance among industries, with the iShares Biotechnology ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NASDAQ">IBB</a>) up 1.9%. Treasury yields were stable, with the 10-year at 4.26%.
On the macro front, S&amp;P Global reported the strongest growth in U.S. private sector activity in two <a href="https://www.benzinga.com/markets/equities/24/06/39434041/us-private-sector-activity-exceeds-estimates-fastest-growth-in-2-years-will-the-fed-welcome-the-">years, surpassing analyst expectations.</a>
Gold saw a decline of 1.4%, reversing Thursday&#8217;s positive performance. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1.8%, heading for its fifth consecutive session of losses, marking the longest losing streak since October 2023.
Oil prices retreated below $81 per barrel, ending a streak of three consecutive sessions of gains.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,019.94</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,140.67</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,464.09</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,694.57</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.4% lower to $544.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% lower to $391.50.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA:&nbsp;<a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 0.1% lower to $480.81.</li>
<li>Sector-wise, the&nbsp;Communication Services&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)&nbsp;outperformed, up by 0.4%, while the&nbsp;Financials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, falling 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Serepta Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) rocketed by over 30% after the company announced expanded U.S. FDA approval of ELEVIDYS for Duchenne Muscular Dystrophy <a href="https://www.benzinga.com/quote/SRPT/news" target="_blank" rel="noreferrer noopener">patients ages 4 and above</a>.</li>
<li>Hertz Global Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) rose over 14%, mimicking Thursday&#8217;s move, after the car rental company upsized its bond offering to $1 billion to finance a fleet refresh. </li>
<li>FactSet Research Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>) rose 4% following stronger-than-expected quarterly earnings. CarMax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMX#NYSE">KMX</a>) was 1% higher in reactions to quarterly results.</li>
</ul>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39423623/worlds-biggest-s-p-500-etf-bleeds-outflows-why-isnt-the-market-crashing-corrected">World&#8217;s Biggest S&amp;P 500 ETF Bleeds Outflows: Why Isn&#8217;t The Market Crashing? (CORRECTED)</a>
Photo created using artificial intelligence via MidJourney.

Treasuries

SRPT

Stocks Stall As Chip Sector Struggles To Rebound; Dollar Eyes 7-Week Peak, Gold, Bitcoin Retreat: What's Driving Markets Friday?

<a href="https://www.benzinga.com/markets/equities/24/06/39405978/hot-runner-nvidia-to-hit-speed-bump-in-second-half-this-year-heres-what-a-market-strategist-says">Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares</a> could go on a roller-coaster ride on Friday, as trading in contracts tied to the chipmaker has surged ahead of a record-setting June "triple witching" expiration.
Investors have bought Nvidia at a feverish pace, sending open interest on Nvidia call options above that of similar contracts tied to the S&amp;P 500 SPX and a popular ETF that tracks the large-cap index, according to SpotGamma data, MarketWatch reported.
Nvidia's&nbsp;10-for-1 stock split last week — and the fact that its weighting in the $71-billion Technology Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) is expected to jump via a rebalancing Friday — have helped to supercharge interest in bullish bets on the stock.
&#8220;Nvidia has the most options expiring in the market,&#8221; Options AI co-founder C.C. Lagator said Friday morning on Benzinga&#8217;s <a href="https://www.youtube.com/watch?v=deFAiPh30hc">&#8220;PreMarket Prep&#8221; show</a>.
Also read: <a href="https://www.benzinga.com/etfs/specialty-etfs/23/03/31396727/fridays-triple-witching-hour-comes-into-play-traders-brace-for-volatility-as-derivatives-wort">Friday&#8217;s Triple Witching Hour Comes Into Play: Traders Brace For Volatility As Derivatives Worth $2.7 Trillion Expire</a>
Friday&#8217;s Triple Witching: The triple witching Friday will see some $5.5 trillion in options tied to&nbsp;indexes, stocks and exchange-traded funds fall off the board, according to an estimate from options platform SpotGamma.
As the contracts disappear, investors will adjust their positions, adding a burst of volume capable of swinging individual holdings, Bloomberg reported.
Goldman Sachs analyst John Marshall estimated that Friday&#8217;s options expiration &#8220;will be the largest ever&#8221; with over $5.1 trillion of notional options exposure expiring, driven by a record $870 billion notional in single stock options.
&#8220;This exceeds the notional value of options that expired in December 2023 ($4.9T), which was the prior record high,&#8221; he said in a note.
Friday&#8217;s options falloff represents a notional value that is equal to 9.3% of the Russell 3000 market capitalization, Marshall said. 
&#8220;This expiration's relative size is higher than most months, only second to December 2023,&#8221; he said.
&#8220;Index options and single stock call options volumes have picked-up while single stock put options volumes declined.&#8221;
This quarter's expiration comes as implied volatility on S&amp;P 500 options is near the lowest level since before the coronavirus pandemic, with the U.S. benchmark index riding the surge in shares of Nvidia&nbsp;and other artificial intelligence-linked companies.
The expiration coincides with index rebalancing,&nbsp;when S&amp;P Dow Jones Indices shuffles company weightings and ETFs that track its gauges make similar adjustments.
NVDA Price Action: Nvidia shares were down 1.8% at $128.42 at the time of writing Friday, while the Technology Select Sector SPDR ETF was trading slightly higher at $229.02. 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39410071/nvidia-and-hewlett-packard-enterprise-join-forces-to-dominate-enterprise-ai-market-">Nvidia And Hewlett Packard Join Forces To Dominate Enterprise AI Market: JPMorgan</a>
Photo via Shutterstock.

Options

$5.5 Trillion In Options Are Set To Expire On Triple Witching Friday: Why Nvidia Could Take Roller Coaster Ride

The Best Of Times, The Worst Of Times

While we've seen some compelling signs that the market is ready for new leadership, tech is still presenting problems for the bears.

Tesla And Tech Are Still Taking The Bulls Higher

Connecting The Critical Nodes

Midyear Equity Outlook - Investing Beyond The Megacaps

Equity Outlook: Making Way For The Magnificent Others

U.S. Tech Stocks: Heavyweights That Move Global Markets

Market breadth will broaden through mid-2025 - Wells Fargo

S&P kicks off H2 with best week since late April, now within sight of 5,600 points

Economy Slows, Businesses Grow

In this holiday weekend video, we'll focus on the stock market and economic charts that the bears don't want you to see.

SPDR Select Sector Fund - Technology

뉴스

에 대한 최신 뉴스 SPDR Select Sector Fund - Technology (ARCA:XLK)

토요일, 7월 06, 2024

목요일, 7월 04, 2024

화요일, 7월 02, 2024

수요일, 6월 26, 2024

토요일, 6월 22, 2024

화요일, 6월 18, 2024

월요일, 6월 17, 2024

목요일, 6월 13, 2024

월요일, 6월 10, 2024

화요일, 6월 04, 2024

토요일, 6월 01, 2024

수요일, 5월 01, 2024

화요일, 4월 16, 2024

뉴스

파트너 / 기고자

벤징가 글로벌