SPDR Select Sector Fund - Consumer Staples (ARCA: XLP)

에 대한 최신 뉴스 SPDR Select Sector Fund - Consumer Staples (ARCA:XLP)

SPDR Select Sector Fund - Consumer Staples

Consumer Defensive

Consumer Cyclical

Other

Healthcare

In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: food and staples retailing; household products; food products; beverages; tobacco; and personal products. The fund is non-diversified.

Procter & Gamble Company

Costco Wholesale Corp.

Walmart, Inc.

Coca Cola Co.

Philip Morris International Inc.

Pepsico Inc.

Mondelez International Inc. Class A

Altria Group Inc.

Colgate-Palmolive Co

Target Corp Com

The Consumer Staples Select Sector SPDR Fund

Equities

Large Cap

Mid Cap

Broad U.S. Equity ETFs

Small Cap

Econ #s

Federal Reserve

Tech

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AVGO

DXCM

MRNA

NVDA

Citigourp Global Markets 2% Protected Notes Linked To The Djia

PODD

XLRE

지난 8 거래일 연속 상승 이후 월스트리트는 잠시 멈췄다. S&amp;P 500과 나스닥 100 지수는 화요일 소폭 하락 마감하여, 각각 2024년 5월과 2023년 10월 이후의 최고의 상승 행진을 멈췄다.

S&amp;P 500, 나스닥 100은 8일 연속 상승 후 소폭 하락 마감: 화요일에 월가의 하락 요인은?

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BlackRock ETF Trust BlackRock Future U.S. Themes ETF

BTHM

First Trust Strategic Value Index Fund for Credit Suisse US Value Index

IEDI

Exchange Listed Funds Trust LG QRAFT AI-Powered U.S. Large Cap Core ETF

LQAI

MDCP

Simplify Exchange Traded Funds Simplify Next Intangible Value Index ETF

NXTV

ROST

RSPD

Merrill Lynch Retail HOLDRS Trust due 12/31/41

텔시 어드바이저리 그룹(Tesley Advisory Group)의 분석가들에 따르면 타깃 코퍼레이션(NYSE:TGT)과 로스 스토어스(NYSE:ROST)는 거시적인 불확실성에도 불구하고 소비자들이 계속 지출함에 따라 2분기에 더 나은 매출을 기록할 것이라고 한다.

타깃, 로스는 소비자의 탄력성을 유지하면서 더 높은 매출을 올릴 것으로 예상: 분석가들

News

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Reiteration

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월마트(NYSE:WMT)의 주가는 회사가 강력한 2025년 2분기 실적을 발표하고 연간 지침을 높인 후 목요일에 상승했다. 이 거대 소매업체는 조정 주당 순이익(EPS)을 0.67달러(+9.8% Y/Y)로 보고했는데, 이는 컨센서스인 0.64달러를 앞섰고, 매출이 1,693억 4천만 달러로 컨센서스인 1,685억 7천만 달러를 넘어섰다.

소비자 지출 문제로 인해 월마트의 4분기 전망이 흐려짐: JP모건 분석가

XCELPLUS INTL INC by Xcelplus International, Inc.

Xcelplus International Inc

INVESCO CONS STAP S&P US SECTOR  ETF

SPDR FUND CONSUMER STAPLES ETF

Alice Walton, daughter of the late Sam Walton and heiress to the Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) fortune, has retaken the distinction as<a href="https://www.benzinga.com/markets/equities/24/09/40945833/walmart-to-offer-pay-by-bank-feature-for-online-transactions-with-launch-in-2025"> the world&#8217;s richest woman</a>.
As of Sept. 4, Walton&#8217;s wealth was estimated at $89.1 billion, according to Forbes &#8220;World Wealthiest Woman&#8221; list. The ranking puts her slightly ahead of French cosmetics company L&#8217;Oreal heiress Francoise Bettencourt Meyers, USA Today <a href="https://www.usatoday.com/story/money/2024/09/16/alice-walton-richest-woman-forbes/75256526007/">reported</a>.
Bettencourt Meyers held the title last year when her worth was estimated at over $100 billion, but it is now at $88.4 billion.
The two heiresses have traded the No. 1 and No. 2 spots a few times over the years, such as when Bettencourt Meyers was the richest woman in 2019 but was then surpassed by Walton in 2020.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40420968/walmart-stock-one-of-the-most-compelling-retail-investments-7-analysts-highlight-ma">Walmart Stock &#8216;One Of The Most Compelling&#8217; Retail Investments: 7 Analysts Highlight Market Share Gains</a>
Bettencourt Meyers took the title as world&#8217;s richest woman back in 2023 from Walton, who then took third place due to Koch Inc. heiress Julia Koch, who now has a net worth of $74 billion as of Sept. 4, according to the Forbes ranking.
But Walton is not the richest person in her family.
She sits below her brothers Jim and Rob Walton, who were worth $95.9 billion and $94 billion respectively, as of Sept. 4.
Sam Walton&#8217;s heirs together own nearly 46% of Walmart.
Throughout her life, she has donated more than $5 billion to charitable foundations including the Crystal Bridges Museum of American Art, which she founded in November 2011 in Bentonville, Arkansas.
Elon Musk, who owns Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), SpaceX, X and other companies, is the <a href="https://www.benzinga.com/startups/24/09/40905106/elon-musk-gautam-adani-and-jensen-huang-lead-the-race-to-become-the-worlds-first-trillionaires">world&#8217;s richest person </a>with an estimated wealth of $251 billion.
Price Action: Walmart slipped 1.05% to $78.20 into Thursday&#8217;s late-day trading.
Exchange-traded funds that hold the stock saw losses ands gains.
<ul>
<li>Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) slipped 0.44%</li>
<li>Fidelity MSCI Consumer Staples Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>) dropped 0.33%</li>
<li>VanEck Retail ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTH#NASDAQ">RTH</a>) rose 0.75%</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40937873/walmart-steps-up-holiday-game-inflation-free-thanksgiving-meal-returns">Walmart Steps Up Holiday Game, Inflation-Free Thanksgiving Meal Returns</a></li>
</ul>
Image: Walmart, Wikimedia Commons

Personal Finance

FSTA

TSLA

Walmart Heiress Alice Walton Retakes Title As World's Richest Woman

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) is reportedly sweetening its pay-by-bank feature in Walmart Pay, allowing customers to pay directly from their checking accounts rather than debit cards, with transactions instantly <a href="https://www.benzinga.com/insights/news/24/09/40902098/evaluating-walmart-against-peers-in-consumer-staples-distribution-amp-retail-industry" target="_blank" rel="noreferrer noopener">reflected in their bank accounts.</a>
With this update, Walmart will receive the funds instantly, <a href="https://www.bloomberg.com/news/articles/2024-09-19/walmart-plans-instant-bank-payments-cutting-out-card-networks?sref=TBDibEcD" target="_blank" rel="noreferrer noopener">reported</a> Bloomberg.
Walmart&#8217;s new pay-by-bank offering will be launched in 2025.
The dealings will occur over Fiserv Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>)&#8217;s NOW Network, which incorporates The Clearing House&#8217;s Real Time Payments network and the Federal Reserve&#8217;s FedNow.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, WMT stock has gained over 43.9% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund &#8211; Consumer Staples (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and&nbsp;Fidelity MSCI COnsumer Staples Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40937873/walmart-steps-up-holiday-game-inflation-free-thanksgiving-meal-returns" rel="noreferrer noopener">Walmart Steps Up Holiday Game, Inflation-Free Thanksgiving Meal Returns</a>
The company is gearing up for the holiday season with new initiatives<a href="https://www.benzinga.com/pressreleases/24/09/b40931888/walmart-unveils-its-holiday-plans-with-early-shopping-deals-and-affordable-meals" target="_blank" rel="noreferrer noopener"> aimed at convenient shopping habits</a>.
Leading the charge is the return of its inflation-free Thanksgiving meal, priced lower than last year, set to launch on Oct. 14.
This year, the retailer also introduced a &#8220;buy one, give one&#8221; donation feature, allowing customers to easily contribute meals to those in need.
Walmart said it is also expanding its delivery services, reaching an additional 12 million households, which will provide enhanced speed and convenience for customers looking to shop from the comfort of their homes.
Earlier this week, Sam&#8217;s Club, the $86-billion warehouse club division of Walmart, introduced a fresh workforce compensation plan, which boosted pay for close to 100,000 frontline associates and provided guidance for <a href="https://www.benzinga.com/pressreleases/24/09/b40900897/sams-club-reimagines-workforce-compensation-launches-new-plan-focused-on-providing-more-predictabl" target="_blank" rel="noreferrer noopener">longer-term financial futures</a>.
WMT Price Action: WMT shares are trading lower by 1.35% to $77.96 at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40906505/walmart-division-sams-club-raises-wages-for-hourly-associates-a-strategic-move-to-stay-ahead-in-" target="_blank" rel="noreferrer noopener">Walmart Division Sam&#8217;s Club Raises Wages For Hourly Associates: A Strategic Move To Stay Ahead In Retail</a></li>
</ul>
Photo via Shutterstock.

Markets

Movers

General

Walmart To Offer Pay-By-Bank Feature For Online Transactions, With Launch In 2025

As the Federal Reserve transitions from a restrictive monetary policy to a more accommodative stance, investors are questioning how this regime change will <a href="https://www.benzinga.com/topic/interest-rates">impact various asset classes. </a>
The central bank&#8217;s shift towards lower interest rates can have far-reaching implications across equities, bonds, and other markets.
Historically, stocks have tended to perform well following the Fed&#8217;s initial rate cuts—but with a crucial caveat: the economy must avoid slipping into a recession. An <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40855247/fed-rate-cuts-and-s-p-500-the-why-matters-most-data-shows">analysis by Goldman Sachs</a> reveals that the S&amp;P 500 has experienced significant declines even after rate cuts if the U.S. economy entered a recession during those periods.
When it comes to bonds, lower interest rates have generally led to a decrease in bond yields, thus driving up bond prices. Unlike equities, this dynamic has historically played out somewhat independently of the economic cycle. However, &#8220;what's past is prologue&#8221; is not always a guarantee in financial markets.
<h2 class="wp-block-heading">&#8216;Quality Can Be Found Across Asset Classes&#8217;</h2>
According to Bank of America&#8217;s latest Research Investment Committee (RIC) report, investors can identify quality opportunities across various asset classes, particularly in today&#8217;s shifting market landscape.
BofA analysts suggest that in the U.S. equity space, investors should adopt a defensive stance, focusing on companies with high free cash flow.
Savita Subramanian, head of U.S. equity &amp; quantitative strategy at BofA, notes that S&amp;P 500 valuations indicate low price returns for the next decade, making dividend payouts more crucial for total returns.
<ul>
<li>Utilities: Recently <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40823561/this-under-the-radar-defensive-ai-sector-quietly-outperforms-all-others-despite-rec">upgraded to Overweight by BofA, </a>the utilities sector stands out for its defensive characteristics and competitive yield. Subramanian indicates that growing power demand driven by AI-linked data centers bolsters the outlook for utility companies. ETFs like the First Trust Utilities AlphaDEX ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXU#NYSE">FXU</a>) and the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) are potential plays in this space.</li>
<li>Real Estate: Offering higher quality yield than before, with 70% of the sector rated B+ or better, the real estate sector provides attractive options. BofA notes that the S&amp;P 500 real estate segment has relatively low office exposure, which could mitigate some risks. Recommended ETFs include the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) and iShares Cohen &amp; Steers REIT ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICF#NYSE">ICF</a>).</li>
<li>Consumer Staples: BofA finds the consumer staples sector tactically attractive, especially ETFs like the Consumer Staples Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>), which has substantial exposure to resilient companies like The Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), Costco Wholesale Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>), Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>). Another sector play here is the iShares U.S. Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYK#NYSE">IYK</a>). </li>
<li>Value, Quality, Dividends, and Buybacks: The bank is also bullish on factor-based ETFs, recommending exposure in value, quality, dividend, and buyback amid a strong free cash flow yield and potential for higher payouts than the broader S&amp;P 500 index. ETFs in this category include the Vanguard Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTV#NYSE">VTV</a>), Pacer US Cash Cows 100 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COWZ#NYSE">COWZ</a>), Schwab US Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>), and iShares Core Dividend ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIVB#NYSE">DIVB</a>).</li>
</ul>
Outside the U.S., Bank of America is bullish on Japanese equities as effective corporate reforms are expected &#8220;to unleash a mountain of cash.&#8221; The WisdomTree Japan Hedged Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXJ#NYSE">DXJ</a>) is a top pick in this market, having gained 125% since 2019. This ETF also offers protection against the yen&#8217;s devaluation. 
In the fixed-income market, BofA suggests exposure to AAA-rated collateralized loan obligations (CLOs) and long-dated Treasury bonds.
<ul>
<li>CLOs: BofA recommends the Janus Henderson AAA CLO ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JAAA#NYSE">JAAA</a>), viewing these loans as quality yield options that have withstood stress during both the 2008 financial crisis and the 2020 pandemic-induced downturn.</li>
<li>Long-Dated Treasuries: Investors looking for duration exposure can consider the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>), which tracks long-dated Treasury bonds with a 17-year duration.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Asset Class</th>
<th>Name</th>
</tr>
</thead>
<tbody>
<tr>
<td colspan="3">Equities</td>
</tr>
<tr>
<td>Utilities</td>
<td>First Trust Utilities AlphaDEX ETF</td>
</tr>
<tr>
<td>Utilities </td>
<td>Utilities Select Sector SPDR Fund</td>
</tr>
<tr>
<td>Real Estate</td>
<td>Real Estate Select Sector SPDR Fund </td>
</tr>
<tr>
<td>Real estate</td>
<td>iShares Cohen &amp; Steers REIT ETF</td>
</tr>
<tr>
<td>Consumer staples</td>
<td>Consumer Staples Select Sector SPDR ETF </td>
</tr>
<tr>
<td>Consumer staples</td>
<td>iShares U.S. Consumer Staples ETF</td>
</tr>
<tr>
<td>Value</td>
<td>Vanguard Value ETF</td>
</tr>
<tr>
<td>Quality</td>
<td>Pacer US Cash Cows 100 ETF </td>
</tr>
<tr>
<td>Dividend</td>
<td>Schwab US Dividend Equity ETF</td>
</tr>
<tr>
<td>Buybacks</td>
<td>iShares Core Dividend ETF </td>
</tr>
<tr>
<td>Japan</td>
<td>Wisdom Tree Japan Hedged Equity ETF</td>
</tr>
<tr>
<td colspan="3">Fixed income</td>
</tr>
<tr>
<td>Credit</td>
<td>Janus Henderson AAA CLO ETF</td>
</tr>
<tr>
<td>Duration</td>
<td>iShares 20+ Year Treasury Bond ETF </td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40887448/long-dated-treasury-bond-etf-hits-14-month-highs-ahead-of-imminent-fed-rate-cut">Long-Dated Treasury Bond ETF Hits 14-Month Highs Ahead Of Imminent Fed Rate Cut</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

REIT

Sector ETFs

Bonds

Specialty ETFs

New ETFs

Treasuries

Real Estate

COST

COWZ

DIVB

WisdomTree Trust Japan Total Dividend Fund

iShares Trusthen & Steers Realty Majors Index Fund

iShares Trust Dow Jones USnsumer Goods Sector Index Fund

JAAA

SCHD

iShares Trust Barclays 20+ Year Treasury Bond Fund

13 ETFs To Own As Fed Set To Cut Rates: Analysts Highlight Utilities, Real Estate, And More

U.S. stocks started the new week with strong gains, as all major indices and sectors in the S&amp;P 500 were in the green by midday in New York. This comes after Wall Street experienced its worst <a href="https://www.benzinga.com/markets">week of the year.</a>
Investors kicked off Monday with renewed optimism, anticipating a boost from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)'s highly anticipated event and key inflation data for August, set to be released on Wednesday.
Economists are predicting a slowdown in the headline inflation rate from 2.9% in July to 2.6% year-over-year in August, potentially marking the lowest inflation level since March 2021. A lower inflation reading could reinforce market expectations for an aggressive rate-cut cycle from the Federal Reserve.
Airline stocks led the charge within industries, with the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>) rising 2.6%, recovering from last month's losses.
In the semiconductor space, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) surged 13%, logging its best one-day rally since February following news of the company's inclusion in the S&amp;P 500 index.
Commodities also gained ground despite a 0.3% rise in the U.S. dollar. Oil prices climbed 1.6% amid production shutdowns in the Gulf of Mexico due to storm warnings. Gold edged up 0.2%, and silver rose 1.3%.
In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped 2.8%, heading for its third consecutive session of gains.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. 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>40,984.61</td>
<td>1.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,691.03</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,484.48</td>
<td>1.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>210.16</td>
<td>1.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090924&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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 1.3% higher to $547.30.</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;rose 1.5% to $410.13.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.4% to $448.38.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) was 1.1% higher to $210.10.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up 2%, followed by the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>), up 1.8%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) surged 7% on Monday after its manufacturing facility in Laval, Quebec, received a Drug Establishment License (DEL) from Health Canada. This certification confirms the facility meets stringent safety and quality standards, granting it authorization to produce drug substances.</li>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) soared 9.3% in reaction to Bitcoin&#8217;s surge.</li>
<li>Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) rallied 7% after reports surfaced that its AI chip technology will be integrated into Apple&#8217;s upcoming iPhone 16.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40777242/bank-of-america-warns-energy-could-be-cheap-for-a-reason-highlights-utilities-as-de">Bank Of America Warns Energy Could Be &#8216;Cheap For A Reason,&#8217; Highlights Utilities As Defensive Play</a></li>
</ul>
Photo: ImageFlow on Shutterstock

$BTC

AAPL

SPDR Dow Jones Industrial Average ETF Trust

JETS

MSTR

PLTR

Select Sector SPDR-Consumer Discretionary

Wall Street Rallies After Last Week's Sell-Off, Palantir Soars On S&P 500 Inclusion, Airlines Rally: What's Driving Markets Monday?

Investors showed little enthusiasm for the August jobs report, as the slower-than-expected hiring numbers deepened worries about <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40748557/job-creation-falls-short-of-expectations-in-august-unemployment-rate-ticks-lower-">a softening labor market.</a>
The U.S. economy added 142,000 nonfarm jobs in August, up from July's 89,000 but falling short of the projected 160,000. The unemployment rate edged down by 0.1% to 4.3%, in line with expectations, while wages saw stronger-than-anticipated growth, rising 0.4% month-over-month.
On Friday, markets shifted sharply into risk-off mode, with all major indices dropping over 1% by midday trading in New York. 
The CBOE Volatility Index (VIX) spiked over 17% to 23 points. The Nasdaq 100 led the decline, losing over 5% for the week, eyeing its worst performance since September 2022.
Semiconductors dragged down the tech-heavy index. The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) dropped nearly 5%, while Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell more than 4%. The chipmaker giant extended the weekly loss to 14%, on track for its steepest decline since October 2022.
Investors dumped equities and moved into cash as the U.S. dollar strengthened despite weaker-than-expected nonfarm payroll data.
In the bond market, short-term Treasury yields tumbled, bringing the yield curve back to a normal shape after two years of inversion. The two-year Treasury yield fell below the 10-year, signaling a shift in economic outlook.
Commodities took heavy losses across the board. Gold dropped 0.9%, silver plunged 3.1% and crude oil (WTI) slid 3%, reaching $66 per barrel, the lowest since May 2023.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also dropped, losing over 3%, as investors steered clear of crypto assets amid a broad-based decline in risk appetite.
<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>Dow Jones</td>
<td>40,320.98</td>
<td>-1.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,406.64</td>
<td>-1.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,092.33</td>
<td>-2.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,424.39</td>
<td>-2.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090624&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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 1.8% lower to $539.77.</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;fell 1.1% to $404.13.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tumbled 2.7% to $448.38.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 2.2% to $207.31.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, flat for the day, while the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 3%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) tumbled 9.9%, on track for its worst session since March 2020, following weaker-than-expected guidance.</li>
<li>Other stocks reacting to earnings included Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>), up 13%, Guidewire Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>), up 11.8% and DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>), up 3.9%. </li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) plummeted over 7% as JPMorgan downgraded the rating from Buy to Neutral and sharply lowered its price target from $950 to $500. </li>
</ul>
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Stocks Tumble On Jobs Data, Nasdaq 100 Eyes Worst Week In 2 Years As Semiconductors Slump: What's Driving Markets Friday?

Signs of a cooling labor market last month pushed major U.S. stock averages lower on Thursday, ahead of the highly anticipated August jobs report set for release on Friday.
Private sector job creation came in at 99,000 for August, according to ADP data, marking the slowest pace of growth since January 2021 and missing <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40728795/private-employment-grows-by-99-000-in-august-sharply-misses-forecasts-of-140-000-">the forecast of 140,000.</a>
A stronger-than-expected services sector activity sentiment for August offered some relief to broader recession concerns, but an employment subindex bolstered hints of the ongoing cooling <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40732534/services-sector-activity-expands-more-than-expected-in-august-but-employment-growth">in the labor market.</a>
The S&amp;P 500 dropped below the 4,500 support level for the first time since mid-August, extending weekly losses to 2.9%, and is on track for its worst week since mid-April.
Tech stocks managed to pare losses, with semiconductor shares holding steady. Blue-chip stocks underperformed, as the Dow Jones slid 0.8%, while small-cap stocks fell 0.6%.
A decision from OPEC+ to delay an October oil production increase by two months supported crude prices and further pressured already fragile investor sentiment. West Texas Intermediate (WTI) crude stopped its decline after suffering its worst two-day slump since October 2023.
Treasury yields dipped slightly, and the U.S. dollar softened. Meanwhile, gold edged higher by 0.6%.
Natural gas was Thursday's standout performer, with Henry Hub prices surging over 5%. The U.S. Energy Information Administration reported a natural gas storage injection of 13 billion cubic feet (Bcf) for the week ending Aug. 30, significantly below historical averages and expectations.
Sentiment in crypto assets worsened, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tumbling 3% to $56,170. 
<h1 class="wp-block-heading">Thursday&#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>% change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,906.30</td>
<td>-0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,495.09</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,132.72</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,638.99</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:52 p.m.</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090524&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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 0.5% lower to $548.40.</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;fell 0.8% to $407.30.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.1% lower to $459.90.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.6% to $211.35.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up by 0.8%, while the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.5%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied 4% after announcing it plans to roll out its Full Self-Driving (FSD) technology in China and Europe during the first quarter of 2025, pending regulatory approvals. The EV maker will also produce a six-seat Model Y variant in China, starting next year.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) announced Thursday it has reached an agreement to acquire Frontier Communications Parent Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FYBR#NYSE">FYBR</a>) in an all-cash deal valued at approximately $20 billion. Shares of Verizon eased 0.6%, while those of Frontier Communication Parent plummeted 9% after rallying 37% on Wednesday.</li>
<li>United Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) rose 4% after tumbling 17% Wednesday. According to Reuters, the Committee on Foreign Investment in the U.S. (CFIUS) has raised concerns about potential national security risks related to Nippon Steel&#8217;s planned $14.9 billion acquisition of U.S. Steel. </li>
<li>NIO Inc. &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) rallied 11% in reaction to upbeat quarterly results and improved guidance.</li>
<li>Other stocks reacting to earnings results included The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) down over 10%, Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) down 6.7%, Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) down 5.3%, Core &amp; Main, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>) down 0.7%, Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) and C3.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>), both down around 13%.</li>
<li>Companies reporting results after the close include Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>), DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>), Ui Path Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) and Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>). </li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40718185/could-august-jobs-numbers-keep-recession-fears-at-bay-this-time-is-different-analys">Could August Jobs Numbers Keep Recession Fears At Bay? &#8216;This Time Is Different,&#8217; Analyst Says</a> Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!</li>
</ul>
Photo: Shutterstock

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S&P 500 Falls Below 5,500 Points On Cooling Jobs Data, Tesla Leads Tech Gains, Natural Gas Spikes: What's Driving Markets Thursday?

Wall Street traded slightly higher on Wednesday, rebounding after the sharp sell-off a day earlier that saw chipmakers tumble, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shedding around $280 billion in market value — the largest single-day drop in history.
Investors processed fresh insights from July labor market statistics, which confirmed cooling conditions as job openings fell to their lowest level in three years, almost closing the <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40711148/july-job-openings-fall-to-3-year-lows-gap-with-unemployment-narrows-to-near-parit">gap with unemployment levels.</a>
Expectations for a Federal Reserve interest rate cut improved, with market participants now assigning a 43% implied probability of a 50-basis-point cut in September, up from 38% the previous day.
Attention now shifts to key August labor data, with the ADP private payrolls report due Thursday, followed by the official jobs report on Friday.
Major equity indices were up marginally, while bonds outperformed, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rising 0.7%, adding to Tuesday&#8217;s 1.3% gain.
Notably, chipmakers, as tracked by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), rose 1%. 
The U.S. dollar weakened, losing 0.4% as falling Treasury yields weighed on the currency. Gold inched up 0.2%, set to break a three-day losing streak.
Oil prices continued to decline, falling 0.7% despite OPEC+ announcing a delay in its planned production increases.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bounced back 1.6%, trading at $58,200.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance Among Major 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>Russell 2000</td>
<td>2,162.23</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,033.77</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,985.75</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,535.16</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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 $552.98.</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;rose 0.2% to $411.03.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.4% to $463.53.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) increase 0.4% to $214.31.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up by 0.8%, while the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) sunk 20% after missing quarterly earnings estimates and delivering a guidance cut.</li>
<li>Other stocks reacting to company earnings were Dicks Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) down 5%, Hormel Foods Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) down 6.6% and Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) up 2.2%.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) fell 3.2% after UBS downgraded the Dutch chipmaker from Buy to Neutral, also cutting the price target. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 5% on upbeat sales data in China. The China Passenger Car Association reported that sales of Tesla's China-made electric vehicles rose 17% compared to July and increased 3% year-over-year.</li>
<li>Companies reporting earnings after the close include Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>), Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Caseys General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>).</li>
</ul>
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Stocks Rebound, Chipmakers Halt Bloodbath As Traders Upgrade Rate Cut Wagers; Tesla Rises, Dollar Tree In Free Fall: What's Driving Markets Wednesday?

The first trading session of September started with a widespread selloff across risk assets, as traders took a cautious approach ahead of what is historically a volatile <a href="https://www.benzinga.com/24/09/40676774/september-market-seasonality-why-this-month-is-historically-the-toughest-for-investors">month for global markets.</a>
At 1 p.m. in New York, the S&amp;P 500 had dropped 1.6%, while small-cap stocks nosedived 2.7%. The Magnificent Seven, tracked by the Roundhill Magnificent Seven ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NYSE">MAGS</a>), offered no safe haven, declining 2.3%.
The CBOE Volatility Index (VIX), often referred to as Wall Street&#8217;s &#8220;fear gauge,&#8221; surged by 20%, reflecting heightened anxiety among investors.
Tech stocks were hit hard, with the Nasdaq 100 down 2.5%, on track for its worst one-day drop since Aug. 1. 
Tuesday&#8217;s selloff was reminiscent of the market turmoil caused by the unwinding of the yen-dollar carry trade earlier in the summer. This time, the yen jumped 0.8% against the dollar after hawkish comments from <a href="https://www.benzinga.com/markets/asia/24/09/40692633/japanese-yen-rallies-on-bank-of-japans-rate-hike-pledge-us-manufacturing-activity-contraction">Bank of Japan Governor Kazuo Ueda overnight</a>.
Despite the yen&#8217;s strength, the U.S. dollar gained 0.2% against a basket of other currencies, buoyed by broader market movements.
On the economic front, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40689835/us-manufacturing-activity-extends-contraction-for-fifth-month-demand-continues-to">U.S. manufacturing data for August showed a deeper-than-expected contraction</a>, with the employment index indicating mounting challenges ahead of a crucial jobs report due later in the week.
Treasury yields fell as the weak manufacturing data fueled speculation of potential interest rate cuts by the Federal Reserve. The yield on the two-year Treasury note, which is sensitive to policy changes, dipped 3 basis points, while the 10-year Treasury note yield dropped 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 1.2%.
In commodities, gold prices slipped 0.5%, while oil prices plunged more than 4%, marking the steepest one-day decline since October 2023. West Texas Intermediate (WTI) crude oil fell to levels not seen since early January 2024, driven by concerns over weaker demand and expectations of increased OPEC supply next month.
Cryptocurrency markets also faced pressure, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down 2.5% as overall sentiment remained weak.
<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 change (%)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,057.56</td>
<td>-1.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,557.61</td>
<td>-1.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,102.46</td>
<td>-2.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,160.05</td>
<td>-2.7%</td>
</tr>
<tr>
<td>CBOE VIX</td>
<td>18.54</td>
<td>19.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:15 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1">Benzinga Pro </a>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 1.5% lower to $555.15.</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;fell 1.1% to $411.80.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tumbled 2.4% to $45.16.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) sunk 2.6% to $214.30.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up by 1%, while the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) tumbled 3.5%. </li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Among mega-cap stocks, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) plummeted 7.6%, marking the worst one-day drop since April.</li>
<li>Other major chipmakers also tanked including Marvell Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), down 7.3%, Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), down 6.5%, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), down 6%, and Taiwan Semiconductor Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), down 5.7%. </li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell 7.5% amid news that the stock might be removed from the Dow Jones index.</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) tumbled almost 8% after Wells Fargo downgraded the stock to an Underweight rating and slashed its price target.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40691352/stock-of-the-day-berkshire-hathaway-trades-above-usual-range-time-to-sell-the-warren-buf">Stock Of The Day: Berkshire Hathaway Trades Above Usual Range — Time To Sell The Warren Buffett Stock?</a>
Bear market illustration generated using artificial intelligence via Dall-E.

INTC

MAGS

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Wall Street Tumbles, Yen Surges, Oil Sinks Below $70, VIX Spikes As Traders Brace For Volatile Month: What's Driving Markets Tuesday?

Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shares are trading higher premarket Wednesday. On Tuesday, the retail giant announced several new <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40589045/walmart-marketplace-accelerates-growth-launches-category-expansion-multichannel-solutions-and-omni" rel="noreferrer noopener">initiatives ahead of the holiday season</a>.
The initiatives include category expansion, multichannel fulfillment, and new features aimed at simplifying cross-market selling.
The company disclosed the expansion of the Premium Beauty, Pre-owned, and Collectibles categories.
Also, the retailer introduced Walmart Multichannel Solutions to fulfill orders from any e-commerce site and simplify product imports.
In particular, Walmart&#8217;s cross-border import service now allows Walmart Fulfillment Services (WFS) to transport full-container-load shipments directly from Asian ports to US facilities.
The company also launched Walmart LocalFinds for pickup and delivery from sellers&#8217; physical stores.
Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40387797/walmart-earnings-under-spotlight-as-investors-watch-consumer-behavior-following-ama" target="_blank" rel="noreferrer noopener">Walmart Earnings Under Spotlight As Investors Watch Consumer Behavior Following Amazon And Airbnb&#8217;s Gloomy Forecasts Blaming Trump Assassination Attempt and Israel War For Falling Demand</a>
Tom Ward, executive vice president and chief e-commerce officer at Walmart US, said: &#8220;We know the importance of personalized, seamless omnichannel experiences, and Walmart continues to advance its digital and fulfillment capabilities, including the new categories and features we announced today, that enhance the overall customer and seller experience on Walmart.com.&#8221;
This month, the company decided to sell its stake in <a href="https://www.benzinga.com/markets/asia/24/08/40531142/jd-stock-slips-into-death-cross-after-walmart-sells-stake" target="_blank" rel="noreferrer noopener">JD.com Inc. </a><a href="https://www.benzinga.com/markets/asia/24/08/40531142/jd-stock-slips-into-death-cross-after-walmart-sells-stake" target="_blank" rel="noreferrer noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>)</a>.
This month, the retailer reported adjusted EPS of 67 cents (+9.8% Y/Y), beating the consensus of 64 cents. Sales were $169.34 billion, exceeding <a href="https://www.benzinga.com/news/earnings/24/08/40391777/walmart-q2-earnings-e-commerce-and-advertising-businesses-fuel-revenue-and-profit-beat-hikes-annual" target="_blank" rel="noreferrer noopener">the consensus of $168.57 billion</a>.
Investors can gain exposure to the stock via SPDR Select Sector Fund &#8211; Consumer Staples (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and Fidelity MSCI Consumer Staples Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>).
Price Action: WMT shares are up 0.11% at $76.21 premarket at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/24/08/40554306/walmarts-stock-soars-43-this-year-even-as-arsenic-levels-trigger-a-massive-apple-juice-recall" target="_blank" rel="noreferrer noopener">Walmart&#8217;s Stock Soars 43% This Year Even As Arsenic Levels Trigger a Massive Apple Juice Recall</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Walmart Gears Up For Holidays With Multichannel Solutions, Import Enhancements On Heels Of JD Stake Sale

Wall Street remained relatively quiet during Tuesday morning trading as investors held their breath for key events <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40570314/top-nvidia-analyst-sees-no-major-impact-from-blackwell-delay-but-flags-one-caveat-h">later in the week. </a>
The AI powerhouse Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is in the spotlight ahead of its Wednesday post-market earnings report, while traders also eagerly await the Federal Reserve's favorite inflation report on Friday.
Tech stocks slightly rebounded by 0.3%, after a 1% drop on Monday, while the S&amp;P 500 held broadly flat. Both blue chips and small caps fell, down 0.2% and 1% respectively. 
Industry-wise cruise lines led gains, with Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) and Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) rising 4%, 3.9% and 3.3% on positive investor sentiment toward the sector. 
Semiconductors rebounded, with the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) up 0.9%, after tumbling 2.5% a day earlier.
Energy-related stocks fell, dragged down by the pullback in oil prices. West Texas Intermediate (WTI) light crude fell by 2% as geopolitical risks in the Middle East showed no significant escalation in recent hours, while Goldman Sachs analysts downplayed concerns over potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40576919/goldman-sachs-lowers-oil-price-forecasts-says-us-supply-beating-expectations-downpl">disruptions in Libyan oil production.</a>
The U.S. dollar eased by 0.2%, reversing Monday&#8217;s gains. Treasury yields remained unchanged, with speculators continuing to assign a higher chance on smaller 25-basis-point rate cut in September. 
Gold prices slipped by 0.1%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell by 2%, mimicking Monday&#8217;s drop. 
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In 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>Nasdaq 100</td>
<td>19,576</td>
<td>0.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,621</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,154</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,200</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082724&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 $560.92.</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;eased 0.1% to $412.16.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.2% to $476.11.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1% to $218.35.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, by 0.4%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down by 1.1%.</li>
</ul>
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) fell over 6% after media veteran&nbsp;Edgar Bronfman, Jr., <a href="https://www.benzinga.com/markets/equities/24/08/40568461/paramount-concludes-go-shop-period-as-edgar-bronfman-pulls-out-paving-way-for-8-4b-merger-with-o">withdrew his offer for the company</a> paving the way for it to combine with Skydance Media, LLC.</li>
<li>CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) plunged over 5% after the company&#8217;s post-earnings spike on Monday, as the CEO and other insiders reduced their stakes. </li>
<li>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) fell over 3% after Monday&#8217;s sharp 30% drop, as analysts slashed their price forecasts on <a href="https://www.benzinga.com/news/earnings/24/08/40575491/these-analysts-slash-their-forecasts-on-pdd-holdings-following-q2-results">the Chinese retail giant. </a></li>
<li>Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>), Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>), nCino, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>), Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>), PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>), Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) and SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) are among the companies due to <a href="https://www.benzinga.com/calendars/earnings">release their quarterly results after the market close.</a></li>
</ul>
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40581306/can-regional-banks-outperform-large-institutions-as-fed-rate-cuts-loom-small-banks-are-plenty-ch">Can Regional Banks Outperform Large Institutions As Fed Rate Cuts Loom? &#8216;Small Banks Are Plenty Cheap,&#8217; But&#8230;</a></li>
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Image created using artificial intelligence via Midjourney.

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NCLH

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Wall Street Mixed Ahead Of Week's Key Events, Cruise Lines Rally, Oil Slips: What's Driving Markets Tuesday?

Goldman Sachs analyst Kate McShane provided an update on digital trends at Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) and new card-scanning rules at Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>).
Foot Locker: The analyst says that Goldman Sachs&#8217; analysis following the re-launch of the FLX rewards program in June 2024 shows that monthly app downloads in July 2024 reached 191K, up from 121K in June 2024 and 167K in July 2023 but below the monthly <a target="_blank" href="https://www.benzinga.com//node/39476765" rel="noreferrer noopener">average of 218K since January 2019</a>.
McShane writes that app downloads turned positive in June 2024 on Y/Y basis, with a +10% increase in both June and July 2024, marking the first positive <a target="_blank" href="https://www.benzinga.com/quote/fl/analyst-ratings" rel="noreferrer noopener">inflection since November 2022</a>.
As per the conversation with the management, the analyst says that the company views this as a multi-year initiative, with 2024 focused on educating both customers and employees about the program.
Foot Locker will launch a redesigned app later this year with real-time updates, enhanced functionality, and FLX integration. In early 2025, the app will introduce &#8220;Store Mode&#8221; for SKU scanning and checking product availability, adds the analyst.
Investors can gain exposure to the stock via&nbsp;Tidal Trust II YieldMax Ultra Option Income Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ULTY#NYSE">ULTY</a>)&nbsp;and SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/08/40393687/retail-sales-soar-in-july-weekly-jobless-claims-undercut-expectations-traders-lea" rel="noreferrer noopener">Retail Sales Soar In July, Weekly Jobless Claims Undercut Expectations: Traders Lean Towards 25-Basis-Point Cut In September</a>
Costco Wholesale: This month, Costco announced it will introduce membership scanners near warehouse entrances to crack down on <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40265381/costco-cracks-down-on-non-members-entering-the-store-will-sams-club-and-bjs-follow-suit" rel="noreferrer noopener">non-members slipping inside the store</a>.
Visitors who do not have a photo on their Costco card must present another form of photo ID to enter the store. Membership fees, required to enter the store, are a key part of Costco&#8217;s business model and comprise a good chunk of its profits.
The analyst says that in the third-quarter earnings call in May 2024, the company highlighted testing front door scanners that significantly <a target="_blank" href="https://www.benzinga.com/quote/cost/analyst-ratings" rel="noreferrer noopener">improved register speed</a>.
McShane writes that examining potential implications from Netflix, the company introduced paid sharing to monetize the over 100 million households using Netflix without directly paying for a subscription.
Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and&nbsp;Fidelity MSCI Consumer Staples Index ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSTA#NYSE">FSTA</a>).
Price Action: COST shares are up 1.23% at $890.00 and FL shares are trading higher by 1.22% at $33.11 at the last check Monday.
Photo via Shutterstock
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ULTY

Goldman Sachs Highlights Foot Locker's Digital Rebound And Costco's New Membership Crackdown

It's a mixed start to the week on Wall Street, with technology stocks dragging down the Nasdaq 100 and S&amp;P 500 indices, while blue-chip stocks in the Dow Jones Industrial Average reached new all-time highs during the morning session in New York as traders weighed the latest surge<a href="https://www.benzinga.com/markets/asia/24/08/40553739/oil-prices-rally-as-middle-east-tensions-rise-libya-warns-of-potential-production-halt-10-energy-sto"> in global geopolitical risks. </a>
Oil prices surged by 3% due to escalating tensions in the Middle East between Israel and Hezbollah, coupled with supply disruptions in Libya, where a government faction halted oil production.
The Dow reached 41,420 points around 10:30 a.m. E.T., marking fresh record highs before retreating slightly and advancing by only 0.1% by midday trading in New York. Small caps managed to book modest gains, with the Russell 2000 up 0.3%. 
Semiconductors were the weakest segment within the broader tech sector, with the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) dropping 2.3%, ahead of NVIDIA Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) highly anticipated earnings report, scheduled for release on Wednesday after the close.
Treasury yields remained broadly steady, while the U.S. dollar attracted some safe-haven demand, gaining ground against all major currencies.
In commodities, gold and silver prices held steady, copper edged up 0.3%, while natural gas prices dropped over 3%, on track for a fourth consecutive session of declines.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 1% to $63,613. 
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. 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>Russell 2000</td>
<td>2,232.07</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,221.87</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,620.72</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,547.44</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082624&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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% lower to $561.33.</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;rose 0.3% to $412.75.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.8% to $476.06</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.3% higher to $220.95.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, by 0.6%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down by 1%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) plummeted 29% after reporting weaker-than-expected quarterly results and revenue guidance. </li>
<li>Petroleo Brasileiro SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>) rallied over 6% after Morgan Stanley upgraded the Brazilian state-run oil company to Overweight raising the price target for Petrobras&#8217; American Depositary Receipts shares from $18 to $20.</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40535564/powells-dovish-stance-ignites-rally-in-stocks-craving-lower-borrowing-costs-3-etfs-positioned-fo">Powell&#8217;s Dovish Stance Ignites Rally In Stocks Craving Lower Borrowing Costs: 3 ETFs Positioned For Fed Rate Cuts</a></li>
</ul>
Photo: Shutterstock

Dow Jones Briefly Sets Record Highs, Tech Drops, Chipmakers Tumble As Oil Prices Spike On Geopolitical Risks: What's Driving Markets Monday?

Federal Reserve Chairman Jerome Powell has dispelled any remaining uncertainty by signaling that the central bank is preparing to shift its monetary policy, effectively paving the way for <a href="https://www.benzinga.com/etfs/sector-etfs/24/08/40529209/jerome-powell-time-has-come-for-interest-rate-cuts-cooling-in-labor-market-unmistakable">imminent interest rate cuts. </a>
His remarks triggered a rally in rate-sensitive assets and pushed the dollar towards the lowest close since July 2023.
&#8220;The time has come for policy to adjust. The direction of travel is clear,&#8221; Powell announced at the<a href="https://www.benzinga.com/topic/jackson-hole"> Jackson Hole Symposium </a>on Friday in Wyoming.
Powell expressed increased confidence in inflation returning to the 2% target and highlighted a heightened focus on the labor market, noting that conditions are cooling.
The market found significant support in Powell&#8217;s indication the Federal Reserve has &#8220;ample room&#8221; to respond to any emerging risks.
Small-cap stocks <a href="https://www.benzinga.com/markets/equities/24/08/40530908/powells-rate-cut-signal-triggers-small-cap-rally-gold-makes-record-highs-dollar-tumbles-7-etfs-o">emerged as clear winners</a> following Powell&#8217;s speech on Friday, with the Russell 2000 index surging by 3% by midday trading in New York. Traders flocked to these companies, anticipating significant relief from the prospect of lower borrowing costs.
Regional banks, as tracked by the SPDR S&amp;P Regional Banking (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), were the brightest market spot, with the industry gauge rallying over 4.5%. All of its 141 constituents showed a positive performance. 
In contrast, large-cap indices maintained their gains from the market open, showing only little reaction to Powell&#8217;s remarks.
In the forex market, the dollar extended its decline, falling by 0.7% and heading toward its fifth negative weekly close with the sharpest decline since mid-November 2023. The decline in Treasury yields weighed on the greenback.
Commodities rallied, with gold up over 1.1% setting fresh all-time highs, and silver soaring 2.5%. Crude oil also surged, up 2.4%, while copper gained 1.7%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 2.25% to $61,863.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. 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>Russell 2000</td>
<td>2,214.91</td>
<td>3.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,605.24</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,948.96</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,602.01</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082324&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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 0.5% higher to $559.11.</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;rose 0.6% to $409.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.5% to $477.32.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 3% to $220.06.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, by 1.6%. The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down by 0.2%.</li>
</ul>
<h1 class="wp-block-heading">Friday&#8217;s Stock Movers</h1>
<ul>
<li>Restaurant chain Cava Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) rallied 23%, after upbeat financial results last quarter.</li>
<li>Other stocks reacting to earnings were BILL Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>) down over 5%; Buckle, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) up 6.9%; Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) up 1.3%; Ubiquiti Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UI#NYSE">UI</a>) up 5.9 and Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), up over 11%.</li>
<li>Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) rallied over 12% after Guggenheim upgraded the stock from Neutral to Buy. </li>
<li>Mortgage-sensitive Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) rallied over 20%. </li>
<li>Within regional banks, Eagle Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NYSE">EGBN</a>), United Community Banks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) and Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>) were the strongest performers, up 10.5%, 9.6% and 8.5%, respectively. </li>
</ul>
Read More: • <a href="https://www.benzinga.com/government/24/08/40532173/powell-removes-any-uncertainty-around-september-rate-cuts-in-jackson-hole-speech-economists">Powell Removes &#8216;Any Uncertainty&#8217; Around September Rate Cuts In Jackson Hole Speech: Economists</a> 
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
This image was created using artificial intelligence MidJourney

Forex

BILL

EGBN

RDFN

ROKU

WDAY

Russell 2000 Outshines S&P 500, Nasdaq 100 As Powell Eyes Rate Cuts; Dollar Sinks, Regional Banks Rocket: What's Driving Markets Friday?

Wall Street trimmed early session gains on Wednesday after official government data downwardly revised nonfarm payrolls by 818,000 from previous estimates between <a href="https://www.benzinga.com/markets/equities/24/08/40489714/traders-raise-bets-on-aggressive-rate-cuts-as-us-economy-sees-818-000-jobs-revised-away-7-etfs-r">April 2023 and March 2024. </a>This adjustment suggests that the labor market&#8217;s strength was not as robust as investors had initially believed.
By midday trading in New York, major U.S. indices hovered slightly above the flatline, with both the S&amp;P 500 and the Nasdaq 100 adding mild gains after snapping an eight-day winning streak on Tuesday. Blue-chip stocks were flat, while small-cap stocks managed to rise by 0.6%.
Traders are now eagerly awaiting further insights on monetary policy from the minutes of the Federal Reserve Open Market Committee&#8217;s July meeting, scheduled for release at 2:00 p.m. ET.
Meanwhile, speculators have increased their expectations of a 50-basis-point rate cut in September, assigning a 32.5% probability to this scenario in response to the downward revisions of the annual nonfarm payrolls. Market participants are fully pricing in 100 basis points, equivalent to a full percentage point, in cuts by the end of the year.
The U.S. dollar is experiencing its fourth consecutive session of losses, while Treasury yields are dropping on the shorter end of the curve, with the policy-sensitive 2-year note seeing yields tumble by 6 basis points to 3.92%.
Gold is down slightly, off by 0.3%, while oil prices are down 1.2%, with West Texas Intermediate crude projected to close at its lowest levels since early February 2024.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) gained 1% but remains below the $60,000 mark.
<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>Russell 2000</td>
<td>2,152.99</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,606.52</td>
<td>0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,747.92</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,818.92</td>
<td>0.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:38 p.m. </figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">Benzinga Pro</a> 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 $559.67.</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;stalled at $408.62.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.2% higher to $481.13.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $214.01.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) outperformed, both up by 0.9%. The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) lagged, down by 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) rallied over 12% on stronger-than-expected quarterly results. The retail giant also witnessed several analysts raising their price target on the stock. </li>
<li>Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) plummeted 13% after reducing revenue guidance for the fiscal year. </li>
<li>Other major companies reacting to earnings were TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) up 6.2%, Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), Dycom Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>), down 8.5%, Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>), up 12%, Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), up 5.9% and Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), up 6.1%. </li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) rose 1.4% after announcing to halt production of an all-electric three-row SUV. </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/08/40472834/emerging-market-bonds-climb-to-over-2-year-high-driven-by-weaker-dollar-feds-interest-rate-shift">Emerging Market Bonds Climb To Over 2-Year High Driven By Weaker Dollar, Fed&#8217;s Interest Rate Shift</a></li>
</ul>
Photo: Shutterstock

COTY

KEYS

Stocks Trim Gains On Slower Jobs Growth, Dollar Falls Ahead Of Fed Minutes; Target Rallies, Macy's Tumbles: What's Driving Markets Wednesday?

After eight consecutive positive sessions, Wall Street hit a pause. The S&amp;P 500 and Nasdaq 100 indices ended Tuesday&#8217;s session with slight declines, halting their best winning streaks since May 2024 <a href="https://www.benzinga.com/markets/equities/24/08/40450395/s-p-500-nasdaq-100-extend-8-session-winning-streak-as-wall-street-jitters-go-poof-mondays-key-st">and October 2023, respectively.</a>
The day was characterized by a lack of economic data, leading to a significant drop in trading volumes across major U.S. stock exchanges. 
Fed Governor Michelle Bowman delivered hawkish comments in the afternoon, stating that she still sees upside risks to inflation. This did little to improve an already negative session.
Bowman further emphasized that wage gains remain above the pace consistent with the Fed's inflation goal, and stressed the need to remain vigilant on the price-stability side of the Fed&#8217;s mandate while monitoring risks of a material weakening in the labor market.
<h3 class="wp-block-heading">Tuesday&#8217;s Major Drags On S&amp;P 500, Nasdaq 100</h3>
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>), closed down 0.2%. A similar drop was observed in the tech-heavy Nasdaq 100 index, as tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
Sector performance saw three sectors finishing in positive territory and eight in the red:
<ul>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) rose 0.5% </li>
<li>Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) rose 0.4%</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) edged up by 0.1%.</li>
</ul>
On the downside, energy stocks led the laggards as WTI oil prices fell below $74 per barrel, marking a two-week low. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) dropped 2.6%.
Among individual stocks, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) was the biggest drag on the S&amp;P 500, falling 2.1% and accounting for a 0.15 percentage point loss in the overall index. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) was another significant negative contributor, falling 3.4% and shaving off 0.04 percentage points from the S&amp;P 500 performance. 
The worst performers in the S&amp;P 500 were Insulet Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) and DexCom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>), which plunged 6.9% and 6.3%, respectively.
In the Nasdaq 100, Nvidia weighed down the index by 0.18 percentage points, followed by Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), which contributed to a 0.05 percentage point loss. The tech index&#8217;s worst performers were DexCom and China&#8217;s PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), the latter dropping 4.6%.
<h3 class="wp-block-heading">Tuesday&#8217;s Worst Contributors To The S&amp;P 500 Performance</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Weight (%)</td>
<td>1-day return (%)</td>
<td>Contribution</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>6.78</td>
<td>-2.14%</td>
<td>-0.15pp</td>
</tr>
<tr>
<td>Exxon Mobil Corporation</td>
<td>1.13</td>
<td>-3.35</td>
<td>-0.04pp</td>
</tr>
<tr>
<td>Broadcom Inc.</td>
<td>1.55</td>
<td>-1.05</td>
<td>-0.02pp</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Tuesday&#8217;s Worst-Performing S&amp;P 500 Stocks</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-day return (%)</td>
</tr>
<tr>
<td>Insulet Corporation</td>
<td>-6.88</td>
</tr>
<tr>
<td>DexCom, Inc.</td>
<td>-6.27</td>
</tr>
<tr>
<td>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>)</td>
<td>-5.00</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Tuesday&#8217;s Worst Contributors To The Nasdaq 100 Performance</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Weight (%)</td>
<td>1-day return (%)</td>
<td>Contribution</td>
</tr>
<tr>
<td>NVIDIA Corporation</td>
<td>8.26</td>
<td>-2.14</td>
<td>-0.18pp</td>
</tr>
<tr>
<td>Broadcom Inc.</td>
<td>5.18</td>
<td>-1.05</td>
<td>-0.05pp</td>
</tr>
<tr>
<td>PDD Holdings Inc.</td>
<td>0.67</td>
<td>-4.55</td>
<td>-0.03pp</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Tuesday&#8217;s Worst-Performing Nasdaq 100 Stocks</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>1-day return (%)</td>
</tr>
<tr>
<td>DexCom, Inc.</td>
<td>-6.27</td>
</tr>
<tr>
<td>PDD Holdings Inc.</td>
<td>-4.55</td>
</tr>
<tr>
<td>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)</td>
<td>-3.35</td>
</tr>
</tbody>
</table>
</figure>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40466528/jackson-hole-preview-5-important-questions-ahead-of-jerome-powells-fed-speech">Jackson Hole Preview: 5 Important Questions Ahead Of Jerome Powell&#8217;s Fed Speech</a></li>
</ul>

S&P 500, Nasdaq 100 Snap 8-Day Winning Streak: What Triggered Wall Street's Setback On Tuesday?

It&#8217;s a relatively uneventful session on Wall Street, but with a slightly worsening risk sentiment as all U.S. equity indices traded in the red at around midday trading in New York. If the S&amp;P 500 and Nasdaq 100 close lower today, it will break their current eight-day winning streak, a run that has nearly erased the losses <a href="https://www.benzinga.com/markets/equities/24/08/40450395/s-p-500-nasdaq-100-extend-8-session-winning-streak-as-wall-street-jitters-go-poof-mondays-key-st">sustained earlier this month.</a>
Traders remain cautious as they await key economic events later this week. On Wednesday morning, the Bureau of Labor Statistics will release its &#8220;2024 Preliminary Benchmark Revision to Establishment Data,&#8221; which will include non-farm payroll revisions covering the period from April 2023 to March 2024.
Later in the day, at 2 p.m. E.T., the Federal Reserve will release the minutes from the July Federal Open Market Committee (FOMC) meeting.
The Jackson Hole Symposium kicks off on Thursday, where Fed officials are expected to make headlines during media interviews. On Friday, Fed Chair Jerome Powell will take center stage<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40466528/jackson-hole-preview-5-important-questions-ahead-of-jerome-powells-fed-speech"> with a live address at 10:00 a.m. ET.</a>
Small caps underperformed large cap on Tuesday, and nine out of 11 S&amp;P 500 sectors were in negative territory, with the exclusion of healthcare and consumer staples.
A measure of the U.S. dollar fell 0.4%, tumbling to the lowest level since late December 2023. The Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) is experiencing its worst three-day performance year-to-date.
Treasury yields also fell, with more significant declines at the long end of the curve. The long-dated iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.8%, poised for its third consecutive session in the green and the seventh in the last eight.
Meanwhile, gold remained steady at record-high levels of $2,500 per ounce, while oil prices declined by another 0.5%, marking their third straight drop. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 1.2% to $58,755.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. 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>S&amp;P 500</td>
<td>5,596.06</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,798.22</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,688.81</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,142.31</td>
<td>-1.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
<h1 class="wp-block-heading">According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:</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 0.3% lower to $558.24.</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;eased 0.1% to $408.70.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.4% lower to $479.50.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1.3% to $212.42.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, both up by 0.3%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down by 2.1%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rallied 8.6% in reaction to its better-than-expected quarterly results. </li>
<li>Other stocks reacting to company earnings were Lowes Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), down 1.3%, Medtronic plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) up 1.9%, Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) up 19%. </li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) rose 3.1% after JPMorgan Chase &amp; Co. raised the stock price target from $77 to $80. </li>
<li>Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose by 2% after the company reported that a three-year phase 3 study demonstrated that weekly tirzepatide injections reduced the risk of developing type 2 diabetes by 94% in obese or overweight adults with pre-diabetes, compared to those who received a placebo.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) tumbled over 4% after announcing that it is grounding its 777X test fleet due to issues discovered in an engine mounting structure.</li>
</ul>
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</ul>
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. 
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!
Photo: Shutterstock

PANW

PYPL

PowerShares DB US Dollar Index Bullish Fund

Wall Street Eases, Bonds Rise, US Dollar Falls To 8-Month Low: What's Driving Markets Tuesday?

Wall Street kicked off the week leading up to the Federal Reserve&#8217;s Jackson Hole Symposium with a positive momentum as traders anticipate reassuring signals from policymakers about the impending start of interest rate cuts, following further easing <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40365730/july-inflation-rate-falls-more-than-expected-supports-hopes-for-large-fed-rate-cu">of inflation last month.</a>
Both the S&amp;P 500 and the Nasdaq 100 were positive by 1:30 p.m. ET, eyeing their eighth straight session in the green. All the eleven S&amp;P 500 sectors recorded a gain, indicating widespread bullish sentiment.
With the corporate earnings season nearing its end, nearly 95% of S&amp;P 500 companies have already reported results. According to FactSet data, 79% of these companies have delivered a positive earnings per share (EPS) surprise, while 60% have reported better-than-expected revenue. The blended year-over-year earnings growth rate for the S&amp;P 500 stands at 10.9%, marking the strongest growth since Q4 2021.
Growing confidence that the Federal Reserve will begin its monetary easing cycle in September pushed the U.S. dollar index below the 102 level, a threshold last seen on January 2, 2024.
The weakening of the U.S. dollar sparked a rally in emerging-market stocks, with the iShares MSCI Emerging Markets Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>) rising 0.9% on Monday, setting it on course for its ninth positive close in the last 10 sessions.
U.S. small caps also rebounded, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) climbing 0.7%, breaking above its 50-day moving average and slightly outperforming large-cap indices.
In the commodities market, gold held steady at $2,500 per ounce after hitting record highs on Friday, its best-performing session since December. Oil prices fell 2.4% as the absence of retaliation from Iran against Israel has reduced some of the risk premium in crude prices.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged 0.5% higher after a 1.8% drop on Sunday.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Averages, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:12 p.m. ET</figcaption></figure>
According to Benzinga Pro 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 0.5% higher to $557.03.</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;also rose 0.5% to $408.88.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged up 0.4% to $476.92.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;rallied 0.8% to $214.17.</li>
<li>The&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;The Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, both up by 1%. The&nbsp;Consumer Staples Select&nbsp;Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, up by 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) rallied 3.3% after Evercore ISI adjusted the stock price target from $300 to $320, maintaining an Outperform rating. </li>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) rose 2.5% after the company announced the acquisition of ZT System, a supplier of artificial intelligence infrastructure, in a cash-and-stock deal valued at $4.9 billion.</li>
<li>General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) rose 0.8% after laying off over 1,000 salaried employees globally in its software and services division as part of a review aimed at streamlining operations.</li>
<li>Amer Sports Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) rallied over 8% ahead of its quarterly earnings report, scheduled in the premarket on Tuesday. </li>
<li>Stocks reacting to company earnings included The Estee Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) and ZIM Integrated Shipping Services Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZIM#NYSE">ZIM</a>). </li>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) and Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) will publish their results after the close. </li>
</ul>
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40443620/goldman-sachs-is-bullish-on-nvidia-ahead-of-earnings-risk-reward-for-ai-stock-favor">Goldman Sachs Is Bullish On Nvidia Ahead Of Earnings: Risk-Reward For AI Stock &#8216;Favorable&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Emerging Markets

S&P 500, Nasdaq 100 Target Eighth Straight Gain As Dollar Nears 2024 Lows; Small Caps, Emerging Markets Rebound: What's Driving Markets Monday?

Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and Ross Stores, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NYSE">ROST</a>) should <a href="https://www.benzinga.com/markets/equities/24/08/40393307/why-is-target-corporation-stock-gaining-today">post better revenues</a> for the second quarter as consumers continue spending despite macro uncertainties, according to analysts from Tesley Advisory Group.
Analyst Joseph Feldman expects Target&#8217;s second-quarter revenue to improve 2% from a year ago to $25.3 billion when it reports earnings on Wednesday before the market opens. His forecast exceeds FactSet revenue consensus of $25.2 billion.
&#8220;Broadly, we believe consumers are showing resiliency as they continue to search for value and focus on essentials, while selectively spending on discretionary items and responding to innovation and newness,&#8221; Feldman wrote in a note on Target, commenting on shoppers in general.
Target continues to focus on its value-offering by cutting prices while offering private brands in new stores, he said.
Feldman maintains an Outperform rating and a $190 price target on Target shares.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40393687/retail-sales-soar-in-july-weekly-jobless-claims-undercut-expectations-traders-lea">Retail Sales Soar In July, Weekly Jobless Claims Undercut Expectations: Traders Lean Towards 25-Basis-Point Cut In September</a>
Analyst Dana Tesley forecasts a 6.9% jump in year-over-year second quarter revenue for Ross Stores to $5.28 billion when it releases its results on Thursday after the market closes. Her expectation exceeds revenue consensus of $5.24 billion.
&#8220;We continue to be encouraged by ROST's string of strong results across the past five quarters, with the business navigating macro challenges relatively well despite outsized pressure on some of its core consumers,&#8221; she wrote in a note.
&#8220;We are encouraged by management's efforts to improve the product mix and drive efficiencies across the business.&#8221;
She maintains a Market Perform and $160 price target on the stock.
Price Action: Target gained 1.67% to close at $144.03 on Friday, while exchange-traded funds that track the stock also advanced.
<ul>
<li>VanEck Retail ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTH#NASDAQ">RTH</a>) gained 0.61</li>
<li>Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) picked up 0.27%</li>
<li>Simplify Next Intangible Value Index ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/NXTV#BATS">NXTV</a>) edged up 0.15%</li>
<li>Federated Hermes U.S. Strategic Dividend ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDV#NYSE">FDV</a>) went up 0.41%</li>
<li>Vanguard Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>) gained 0.32%</li>
</ul>
Ross Stores slipped 0.27% to close at $147.40 on Friday, while ETFs that follow its shares had mixed results.
<ul>
<li>VictoryShares THB Mid Cap ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDCP#NASDAQ">MDCP</a>) rose 0.52%</li>
<li>BlackRock Future U.S. Themes ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTHM#NYSE">BTHM</a>) slipped 0.03%</li>
<li>IShares U.S. Consumer Focused ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEDI#BATS">IEDI</a>) moved up 0.24%</li>
<li>LG QRAFT AI-Powered U.S. Large Cap Core ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LQAI#NYSE">LQAI</a>) remained unchanged</li>
<li>Invesco S&amp;P 500 Equal Weight Consumer Discretionary ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSPD#NYSE">RSPD</a>) rose 0.29%</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/news/retail-sales/24/06/39366813/retail-sales-preview-may-numbers-expected-to-rise-as-consumers-feeling-more-positive">Retail Sales Preview: May Numbers Expected To Rise As Consumers &#8216;Feeling More Positive&#8217;</a></li>
</ul>

Target, Ross Stores Expected To Post Higher Revenues As Consumers Stay Resilient: Analysts

Retail sales in the United States inched up 1% sequentially in July 2024, following a downwardly revised 0.2% drop in June and way better than forecasts of a 0.3% gain. It is the biggest increase since January 2023, with sales at motor vehicle and part dealers rising the most (3.6%), followed by sales at electronics and appliance stores (1.6%).
Barring sales of food services, auto dealers, building materials stores and gasoline stations, sales rose 0.3%, compared to 0.9% in June and forecasts of 0.1%. Below we highlight a few areas and the related ETFs &amp; stocks that may benefit handsomely from the retail sales.
<h3>Winning Areas</h3>
Electronics &amp; Appliance Stores
Sales gained 1.6% sequentially in July and 5.2% year over year. Rise in electronics sales should boost semiconductor funds and stocks.
VanEck Vectors Semiconductor ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smh#NASDAQ">SMH</a>) &ndash; The underlying MVIS US Listed Semiconductor 25 Index tracks the overall performance of companies involved in semiconductor production and equipment. The fund charges 35 bps in fees.
Best Buy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bby#NYSE">BBY</a>) &ndash; As far as stocks are concerned, investors can take a look at BBY. It is a multinational specialty retailer of consumer electronics, home office products, entertainment software, communication, food preparation, wellness, health, security, appliances and related services. The fund has a Zacks Rank #2 (Buy).
Healthcare &amp; Personal Care Stores
Sales gained 0.8% sequentially in July and 3.4% year over year.
Consumer Staples Select Sector SPDR ETF (ARCA:XLP) &ndash; The underlying Consumer Staples Select Sector Index seeks to provide an effective representation of the consumer staples sector of the S&amp;P 500 Index. The fund charges 9 bps in fees.
KimberlyClark (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmb#NYSE">KMB</a>) &ndash; Kimberly-Clark Corporation is principally engaged in the manufacture and marketing of a wide range of consumer products around the world. The company sells its products to supermarkets; mass merchandisers; drugstores; warehouse clubs; variety and department stores; retail outlets; manufacturing, lodging, office building, food service, and health care establishments; and high-volume public facilities. The fund has a Zacks Rank #3.
Food &amp; Beverage Stores
Sales gained 0.9% sequentially in July and 2.9% year over year.
Fidelity MSCI Consumer Staples Index ETF (ARCA:FSTA) &ndash; The underlying MSCI USA IMI Consumer Staples Index represents the performance of the consumer staples sector in the U.S. equity market. The fund charges 8 bps in fees.
Pilgrim&#39;s Pride (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ppc#NASDAQ">PPC</a>) &ndash; Pilgrim&#39;s Pride Corporation is focusing on strengthening its Prepared Foods category. The category grew in the United States during the fourth quarter of 2019 on continued investments in R&amp;D and sales as well as marketing of new product innovations. Also, the company has been increasing its product mix for organic category, including No-Antibiotics-Ever products, to cater customers&#39; evolving tastes. The fund has a Zacks Rank #1 (Strong Buy).
<a href="https://www.zacks.com/stock/news/2322839/retail-sales-gains-in-july-etfs-stocks-to-play?cid=CS-BENZ-FT-etf_news_and_commentary-2322839">To read this article on Zacks.com click here.</a>

Health Care

Retail Sales Gains in July: ETFs & Stocks to Play

Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) shares are trading higher on Thursday after the company announced&nbsp;strong&nbsp;second-quarter 2025 results&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40390393/walmart-reports-strong-revenue-growth-of-4-8-with-operating-income-growing-faster-at-8-5-adjusted-" rel="noreferrer noopener">and raised full-year&nbsp;guidance</a>.
The retailer reported adjusted EPS&nbsp;of&nbsp;$0.67&nbsp;(+9.8%&nbsp;Y/Y),&nbsp;beating the consensus of&nbsp;$0.64 and sales of&nbsp;$169.34 billion, surpassing the <a target="_blank" href="https://www.benzinga.com//node/40391777" rel="noreferrer noopener">consensus of&nbsp;$168.57 billion</a>.
Walmart expects&nbsp;third-quarter&nbsp;adjusted EPS of&nbsp;$0.51 to $0.52&nbsp;versus a consensus of&nbsp;$0.55, and its net sales to grow 3.25% &#8211; 4.25% in CC.
JP Morgan analyst Christopher Horvers has an <a href="https://www.benzinga.com/quote/wmt/analyst-ratings">Overweight rating on WMT.</a> The analyst anticipates a positive stock price reaction today, given concerns about the consumer market and fears of a slowdown at the end of the second quarter, coupled with strong gross margins exceeding Street expectations in both the U.S. and international markets.  
This assumes management adequately addresses the third-quarter timing shift mentioned, writes the analyst. Horvers adds that the absence of an upgrade to implied fourth-quarter estimates likely reflects caution over consumer trends and uncertainties in the second half due to known headwinds.
The analyst says that the third-quarter guidance accounts for the timing of festive events in the international segment and planned expenses. This includes the impact of FK&#8217;s Big Billion Days events, which frequently shift between the third and fourth quarters (as seen in 2023).
Investors can gain exposure to the stock via&nbsp;Vanguard Consumer Staples ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDC#NYSE">VDC</a>) and&nbsp;SPDR Select Sector Fund – Consumer Staples (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>).
Price Action: WMT shares are up 6.55% at $73.15 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com//node/40400422" target="_blank" rel="noreferrer noopener">Goldman Sachs Offloads Ireland&#8217;s Largest Mall To Strategic Value Partners: Report</a></li>
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