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Market Falls For What Feels Like the Fourth Day | Wall Street Today

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Kevin Travers wrote a column · 2 hours ago
Market Falls For What Feels Like the Fourth Day | Wall Street Today
The market closed lower Thursday after conflict in the Middle East kept volatility on everyone's minds, while semiconductor stocks climbed after news that OpenAI pulled in a massive new funding round.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ fell 17 bps, the $Dow Jones Industrial Average (.DJI.US)$ fell 44 bps, and the $Nasdaq Composite Index (.IXIC.US)$ fell 4 bps.
MACRO
Thursday macro saw the release of Initial Jobless Claims, right in line with two-year averages at 225k.
The U.S. Services PMI came in lower, at 55.2. The ISM non-manufacturing PMI came in higher at 54.9, rising with ISM non-manufacturing prices at 59.4. S&P Global Composite PMI came in slightly lower at 54.0.
Investors are looking forward to Friday's big labor data: nonfarm payrolls from the BLS.
SECTORS
$Crude Oil Futures(NOV4) (CLmain.US)$ climbed again, up 5% after Israel sent overnight strikes across the Middle East, while the market awaits a full retaliatory assault on Iran that has yet to come. CNN reported the Biden Administration was arguing with Prime Minister Benjamin Netanyahu, to keep the Israelites from bombing oil fields or the Iran Nuclear program.
Market Falls For What Feels Like the Fourth Day | Wall Street Today
$Bitcoin (BTC.CC)$ hovered at $60k, gold and silver fell in concert, while the $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
Within industries tracked by moomoo, Nvidia and energy held up index industries. Aside from Nvidia ETFs, Utilities climbed 4%, Data Center stocks climbed 3% with $Advanced Micro Devices (AMD.US)$ and Nvidia in the lead, alongside Semiconductors and Robotics stocks.
MOOVERS
$NVIDIA (NVDA.US)$ pulled up the market with its Semiconductor Tech price power, climbing 3% after receiving a JPM buy rating and receiving positive press from CEO Jason Huang on CNBC, who said the Blackwell chip is seeing 'Insane' demand. The Wall Street Journal reported that Nvidia contributed $100 million to the OpenAI funding round.
$Vistra Energy (VST.US)$ was the highest gainer on the S&P 500, climbing 6% after a buy rating from RBC, and continued its trend as the highest yearly gainer on the S&P 500 as a major power source provider in a sea of AI data centers that suddenly need a lot of power.
$UP Fintech (TIGR.US)$, a Singapore-based Chinese brokerage firm climbed 10%, following exuberance for Chinese stocks after government stimulus encouraged investors and funds to pump an estimated $3T into Chinese stocks and equities in a week and half.
Shares of $EVgo Inc (EVGO.US)$ were up more than 52% at 12.20 PM ET after the charging startup announced it had received a $1.05 billion loan commitment from the Energy Department's Loan Programs Office.
$Bilibili (BILI.US)$ shares are trading lower by 8% Thursday morning, pulling back following a 90% surge over the past month, which was fueled by mounting optimism around China's aggressive stimulus measures aimed at reviving its sluggish economy.
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Word from the herd: Mooers, what are you watching?
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