TSLA
Tesla
-- 421.060 PLTR
Palantir
-- 80.550 NVDA
NVIDIA
-- 134.700 OXY
Occidental Petroleum
-- 47.130 AMD
Advanced Micro Devices
-- 119.210 
Stocks Mostly Inch Up, Slightly Extending Rebound From Their Big Recent Sell-Off
Stocks mostly inched up Monday as Wall Street managed to slightly extend its recent rebound from the big pullback that it saw earlier this month on weak July U.S. jobs data.
The $Nasdaq Composite Index (.IXIC.US)$ led the upward, gaining 35.31 points (0.2%) to a 16,780.61 close. The $S&P 500 Index (.SPX.US)$ likewise inched up 0.23 points (less than 0.1%) to a 5,344.39 finish, although the $Dow Jones Industrial Average (.DJI.US)$ shed 140.53 ticks (0.4) to 39,357.01.
The main indexes mostly rose as stocks continued to stabilize from the roughly 5% sell-off that they saw Aug.2-5 after the U.S. Bureau of Labor Statistics reported a weaker-than-expected July jobs report.
The soft data had Wall Street – which had previously been hoping for a slower economy to curb inflation and allow for Federal Reserve rate cuts – worrying investors that things had slowed too much and a recession could loom.
However, the market's key indexes have since recouped a majority of their recent losses.
Macro
Markets got some fresh inflation data Monday from the New York Federal Reserve, whose survey of consumers showed median three-year inflation expectations had dropped a sharp 0.6 percentage points to 2.3%. That’s the lowest read since the New York Fed started the survey in 2013.
The study also found that median household-spending growth also slowed to 4.9%, the lowest level since April 2021.
Market Movers
Stocks making significant moves Monday included:
-- $B. Riley Financial (RILY.US)$, down 51.9% on word the firm is suspending its dividend and has received subpoenas from regulators.
-- $JetBlue Airways (JBLU.US)$, which shed 20.7% on news that it plans to sell $400 million of convertible senior notes due in 2029.
-- $Hawaiian Electric Industries (HE.US)$, which fell 14.4% after reporting earnings after the bell Friday that said the utility doesn't yet have financing in place to pay a $1.7 billion settlement over its involvement with the recent massive Maui fire.
-- $Blend Labs (BLND.US)$ , which rose 10.9% on continued gains from a quarterly revenue beat reported last Thursday after the bell.
-- $Pitney Bowes (PBI.US)$, which traded 10% higher as a rally sparked by well-received quarterly earnings Thursday evening extended into a second session.
-- $KeyCorp (KEY.US)$, up 9.1% on word that Bank of Nova Scotia is buying a 14.9% stake in the firm for about $2.8 billion in cash.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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