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European Stocks Reach New Highs Amid Global Market Activity
2024-08-30 09:00:09
Stocks
Markets
Economy

European Stocks Reach New Highs Amid Global Market Activity

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European stocks surged to record levels driven by easing inflation and potential ECB rate cuts, while Wall Street remained mixed on strong US GDP growth. Financial and Industrial sectors led gains, contrasting with Nvidia's 6.38% drop due to earnings disappointment.

Meanwhile, Asian markets continued upward momentum, notably with Hang Seng rising 8% in August. The DAX slightly retreated post-record high, influenced by positive sentiment from Wall Street.

In other news, UK house prices soared, and market focus shifted to developments like Thyssenkrupp-Stahl crisis and Lufthansa subsidiary Discover strike. Amidst varied stock performances, Nvidia's Blackwell launch garnered optimism, and Dollar General faced a significant plunge pre-earnings.

Related news on that topic:

Stock Market Today: Indexes Falter As Nvidia Earnings Loom

In the stock market today, indexes fell as investors awaited Nvidia's earnings report. Despite this, the Dow hit a record high, while the S&P 500 and Nasdaq rose. In the retail sector, companies such as Foot Locker, Kohl's, and Abercrombie reported their earnings. The tech sector also saw activity, including companies like CrowdStrike and Pure Storage. Other notable companies reporting earnings included Li Auto, Ambarella, and Super Micro. The market also paid attention to upcoming economic data, such as the PCE-Deflator, which measures consumer spending in the US. Overall, the US economy showed stronger-than-expected growth in the second quarter. The Wall Street's focus shifted towards the potential interest rate cut by the Federal Reserve in September. The dollar continued its recovery, oil prices rose, and gold prices saw an increase as well. Apple and HP were among the companies that experienced stock price movements.

US Stocks Mixed Amidst Nvidia Earnings and Rate Cut Speculation

US stocks fluctuated with Dow slightly down and S&P 500, Nasdaq mixed. Investors eye Nvidia's earnings report and potential rate cuts. Mideast tensions and tech sector performance impact market movements. Financial, healthcare, and consumer staples sectors show strength while tech and real estate lag. Market awaits inflation update and Powell's comments on Fed policy. Amidst record highs and lows, stock futures show volatility. Key earnings from companies like Nordstrom and Salesforce shape trading activity. Tech sector, Apple CFO change, and global economic factors influence market trends. Dax hits near-record levels on economic recovery hopes, rate cut expectations, and Nvidia's performance. Zoom sees rise, Snowflake and Urban Outfitters face declines in midday trading.

Read 5 more recent news on this topic

The press radar on this topic:

The Street
2. September 2024 um 12:04

Stocks making the biggest moves ahead of Nvidia's earnings - Midday movers TheStreet Daily Newsletter

Finance
Technology
Stocks trading lower midday, with S&P 500 down 0.5%, Nasdaq down 1%, Russell 2000 down 0.6%, and Dow Jones down 0.3%; All Mag 7 stocks down. Nvidia (NVDA) down 2% ahead of Q2 earnings; Super Micro plunges 23% after delay, Hindenburg short; Coinbase drops 4% as Bitcoin falls; Nordstrom up 5% on earnings beat, Bath & Body down 5% on weak results; Lululemon drops ahead of earnings.
The Street
31. August 2024 um 23:05

Midday stock movers: Nvidia, Best Buy, Dollar General TheStreet Daily Newsletter

Finance
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Stocks rose midday, with Nvidia down 4% on Q2 beat, Best Buy up 15% on Q2 beat, and Dollar General plunging 30% on miss. GDP grew 3%, jobless claims fell. Morgan Stanley sees Nvidia's Blackwell launch as positive, while Bernstein and thefly.com note cautious sentiment. Loop Capital downgraded Dollar General ahead of earnings.
Tagesschau - Wirtschaft und Börsen-Nachrichten
30. August 2024 um 20:16

DAX expected to be slightly lower Taking a breather after the record high

Finance
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The DAX is expected to be slightly lower after the record high. Interest rate hopes and FOMO recently drove prices higher. The chart technology is positive, but seasonality calls for caution.
The Guardian
30. August 2024 um 13:33

European stock markets hit record high; UK house price growth at fastest annual rate since 2022 – business live

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Shell plans major job cuts; UK house prices rise at fastest annual rate since 2022; Stoxx 600 index hits record high; Nationwide chief economist expects housing market to strengthen; Bank of England data on consumer credit and mortgage approvals; Eurozone inflation and unemployment data; India GDP growth in Q2; US core personal consumption expenditure price index for July.
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