NVDA
NVIDIA
-- 130.390 TSLA
Tesla
-- 479.860 AVGO
Broadcom
-- 240.230 QUBT
Quantum Computing
-- 16.790 PLTR
Palantir
-- 74.390 Tuesday, Tech Pulls Back, While Traders Await FOMC Rate | Wall Street Today
The market fell Tuesday, but stepping back, the view of tech stocks looks like a mountain range that has not peaked yet- for all of December, the Nasdaq has arched upward into all-time highs. After Monday's record, the index pulled back, following a pullback for Nvidia and Broadcom, falling after Broadcom's post-earnings stock jump finally took a pause.
Just past 4 pm ET they $S&P 500 Index (.SPX.US)$ traded down 0.39%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.61%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.32% as well.
MACRO
Core retail sales in November came in lower than expected but still climbed 0.2% from October. Investors are waiting for the Wednesday FOMC rate decision, which the CME FedWatch tool shows 95% of futures contracts on treasuries expect.
SECTORS
$Hesai (HSAI.US)$, a smaller Shanghi-based Lidar Technology stock climbed 27%, sending the entire Lidar industry list on moomoo higher by 21%. Seeking Alpha attributed the climb to news that dropped from earlier this month of an exclusive deal with both Great Wall Motor and Changhan Auto to provide LiDAR tech.
Elsewhere in the economy, $Crude Oil Futures(FEB5) (CLmain.US)$ fell to remain at $68/barrel. Gold and silver fell, and treasuries fell. $Bitcoin (BTC.CC)$ hovered at 106k after hitting 108k after 10 am ET.
MOOVERS
$Marvell Technology (MRVL.US)$ fell 9%, the lowest on the Nasdaq 100, as the competitor to Braodcomm followed the freshly minted tech giant lower. $Broadcom (AVGO.US)$ Climbed 24 and 11% in the past two sessions after its AI-based earnings impressed the market- its stock pulled back Monday after climbing more than 30%, sending it to above $1T in market cap.
$Amentum Holdings (AMTM.US)$ stock fell 10% Tuesday, the lowest on the S&P 500 by percentage after the engineering and technology solutions company acknowledged the possible threat of government spending cuts. CEO John Heller, however, stressed that the incoming Trump administration has yet to lay out a detailed approach for tackling the budget.
$Quantum Computing (QUBT.US)$, a stock that was small last week climbed further by 53% early Tuesday after a 65% jump on Monday. In a press release Tuesday morning, the firm announced a contract from NASA to help unscramble radio images using its "room temperature" machines.
The union representing workers at hundreds of $Starbucks (SBUX.US)$ stores in the U.S. said Tuesday said 98% of its Starbucks members voted to back a strike but have yet to decide when the walkout would take place. The stock did not move much.
$Teva Pharmaceutical Industries (TEVA.US)$'s shares soared 26% and $Sanofi (SNY.US)$'s stock moved higher following positive results from the latest trial of their jointly developed treatment for inflammatory bowel disease.
$SolarEdge Technologies (SEDG.US)$ was trading more than 16% higher Tuesday after analysts at Goldman Sachs upgraded the stock to Buy from Sell and boosted their price target to $19 from $10.
Word from the herd: Mooers, what are you watching?
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